Trump administration races the clock to rebuild US tariff wall knocked down by Supreme Court

The Trump administration faces a July 24 deadline to replace revenue lost after the Supreme Court invalidated its broadest tariffs. It is using Section 301 of the 1974 Trade Act to impose new tariffs on countries like China and Brazil, aiming to avoid a congressional extension of the expiring Section 122 tariffs. Treasury revenue from tariffs has declined sharply since the court ruling, creating a significant shortfall.