United States Imposes 10% Global Import Surcharges for 150 Days

Donald Trump imposed a 10% global import tariff under Section 122, effective February 24, 2026, for 150 days (until July 24, 2026).

The US recorded a $1.2T trade deficit in 2024 & 2025 and a 4.0% current account deficit.

The net international investment position fell to –90% of GDP (end-2024), with primary income turning negative in 2024.

The 10% ad valorem duty applies in addition to existing tariffs on most imports.

Exemptions include energy, pharma, vehicles, critical minerals, plus USMCA and CAFTA-DR qualifying goods.