The U.S. Court of International Trade (CIT) has recently ruled that the 10% global import tariff imposed by the Trump administration under Section 122 of the Trade Act of 1974 is invalid. If the Trump administration chooses not to appeal, tariff refunds can be processed immediately. If an appeal is filed, it will likely end in refunds as well-similar to the case of the reciprocal tariffs. In effect, the Section 122 tariff has become void in all but name.
