Right now, a proposed peace deal between the U.S. and Iran remains in flux, as key issues, like the Strait of Hormuz and Iran’s nuclear program, remain sticking points. The Strait of Hormuz remains one of the region’s most vital chokepoints, with about 20% of the world’s petroleum and liquified natural gas passing through. These…
Here is the basic shape of Section 122 as of June 1. The administration invoked it on February 20, the same day the Supreme Court struck down IEEPA, as a backup plan to keep a 10% across-the-board surcharge on most imports while a more permanent replacement was built. It took effect on February 24. It…
Here is the basic shape of the IEEPA refund situation as of early June. The Supreme Court invalidated the tariffs in February. The government had collected roughly $166 billion under them. Customs and Border Protection has now refunded approximately $20.6 billion, with another $85 billion accepted for processing through the new CAPE portal that opened…