
President Trump introduces a global import tax. Image credit: Chip Somodevilla/Getty Images
The announcement follows a 6-3 ruling that the earlier tariffs, imposed under the International Emergency Economic Powers Act, exceeded presidential authority and required congressional approval. The now-invalidated tariffs have cost Apple about $2 billion.
Section 122 provides a narrower legal pathway, but it doesn't soften the economic impact. The statute permits temporary tariffs of up to 15% total for 150 days unless Congress votes to extend them.
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