Trump's Expiring Tariffs Create Last-Minute Uncertainty for U.S. Businesses
As of Thursday afternoon, American businesses face extreme uncertainty because President Trump's Section 122 tariffs, imposed in February 2026, expire at midnight Friday with no replacement announced. The Supreme Court struck down Trump's earlier IEEPA-based tariffs, forcing him to use the Trade Act of 1974, which limits tariffs to 150 days unless Congress extends them. Despite having 150 days to provide clarity, the administration has not done so. White House press secretary Karoline Leavitt promised an announcement later Thursday, but none had come by 4 p.m. The chaos highlights the economic harm of tariff uncertainty, which studies show has damaged the economy beyond the direct $25-30 billion cost of the tariffs themselves. Critics argue Congress should set trade policy rather than one president.
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