Temporary 10% Import Duty Imposed

The White House has issued a Fact Sheet announcing President Trump's Proclamation to impose a temporary 10% import duty for 150 days, effective February 24, 2026. This measure, invoked under section 122 of the Trade Act of 1974, aims to address fundamental international payment problems, reduce the U.S. balance-of-payments deficit, and encourage domestic production. While many goods are subject to the duty, exemptions exist for critical minerals, energy products, certain natural resources, pharmaceuticals, vehicles, aerospace products, and specific trade agreement goods from Canada, Mexico, and CAFTA-DR countries.

Importers and businesses involved in international trade must prepare for the new 10% duty on most imported goods starting February 24, 2026. Compliance will require updating import cost calculations and potentially adjusting supply chains. The duty is temporary, lasting 150 days, but its impact on pricing and availability of goods should be assessed. Additionally, the suspension of duty-free de minimis treatment for low-value shipments is reaffirmed, meaning these will also be subject to the new duty. Companies should review the specific exemptions to determine which of their imported articles are affected.