U.S. Customs and Border Protection will stop collecting certain Trump-era tariffs starting February 24 following a Supreme Court ruling that found the president exceeded his authority under the International Emergency Economic Powers Act (IEEPA). The agency announced through its Cargo Systems Messaging Service that duties on fentanyl-related imports, Venezuelan oil, and sweeping reciprocal tariffs will be suspended.

However, the ruling does not affect tariffs imposed under other legal frameworks. Trump's 25% aluminum tariffs and auto parts levies remain in place. The president has responded by announcing new 10% then 15% universal tariffs under Section 122 of the Trade Act, though these would require Congressional approval to extend beyond 150 days.

The Supreme Court decision represents a significant check on executive trade powers and creates uncertainty for businesses that had adjusted operations based on the previous tariff regime. Companies will need to reassess supply chains and pricing strategies as the trade policy landscape shifts. The administration's fallback to Section 122, an untested legal provision, suggests potential for further legal challenges and market volatility