Expeditors (EXPD) Status update summary

Supreme Court decision and immediate impacts

• Supreme Court ruled IEEPA cannot be used as a legal basis for tariffs, invalidating all IEEPA-based tariffs as of February 24, 12:01 A.M. EST.

• The ruling does not affect Section 301 or 232 tariffs, nor new tariffs under Section 122.

• No mechanism for refunds of previously paid IEEPA tariffs was established by the Court.

• President issued an executive order to terminate IEEPA tariffs and announced a new 10% global tariff under Section 122.

• Customs and Border Protection (CBP) is working to update systems and provide operational guidance.

New tariff regime and operational guidance

• Section 122 tariffs are capped at 15% and limited to 150 days unless extended by Congress.

• Section 122 tariffs apply to all imports from February 24, with some exceptions and a narrow in-transit exemption.

• De minimis treatment for low-value shipments remains revoked and now falls under Section 122 tariffs.

• CBP has not yet issued detailed instructions or new Chapter 99 numbers for Section 122 tariffs.

• Importers should monitor for further updates and operational changes from CBP.

International and legislative responses

• Most international partners view the Supreme Court decision as a domestic issue and expect existing agreements to stand.

• Canada and Mexico welcomed the ruling; the EU may review some agreement provisions.

• Congress is expected to increase oversight, especially regarding refunds and the 150-day Section 122 tariff period.

• New legislation was introduced to require CBP to process refunds within 90 days, signaling congressional interest.

• Section 338, an old tariff authority, may be considered for future actions, though it is likely to face litigation.