IEEPA Tariffs Cease Collection February 24th 12:00 ET, Section 122 Begins 12:01 ET Same Day

Red Cargo Containers in shipyard

Following guidance from U.S. Customs Border Protection (CBP) via its Cargo Systems Messaging Service (CSMS #67834313), CBP will stop collecting additional duties that had been imposed under the International Emergency Economic Powers Act (IEEPA) on or after 12:00 am ET on February 24th.

Also on February 20, the President signed a Proclamation invoking Section 122 of the Trade Act of 1974, imposing a temporary 10% ad valorem import duty on most goods entering the United States. This duty takes effect February 24th at 12:01 a.m. ET and is set for a period of 150 days.

Over the weekend on social media, the President said he was increasing the rate from 10% to 15%; however as of this writing, the White House website is not loading the page with the full details and no new announcement has been made.

Major exclusions from the Section 122 duty include:

  • Critical minerals, metals, energy products, and related resources

  • Natural resources and fertilizers not produced domestically in sufficient quantities

  • Certain agricultural products (e.g., beef, tomatoes, oranges)

  • Pharmaceuticals and certain electronics

  • Passenger vehicles, certain trucks and buses, and related parts

  • Aerospace products

  • Informational materials (e.g., books), donations, and accompanied baggage

  • All goods subject to existing Section 232 actions

  • USMCA-qualified goods from Canada and Mexico

  • Certain textile and apparel goods covered under CAFTA-DR exemptions
    (List adapted and summarized from tariff regime descriptions.)

De Minimis Exemption Still Suspended

A separate Executive Order signed the same day — “Continuing the Suspension of Duty-Free De Minimis Treatment for All Countries” — confirms that the previous suspension of the duty-free treatment for low-value shipments (under $800) remains in effect for all entries, including international postal mail. These shipments will also be subject to the new Section 122 import duty.

What This Means for Importers

The rollback of IEEPA tariffs and the introduction of the Section 122 surcharge represent a significant reconfiguration of U.S. tariff policy. While the broad emergency tariffs imposed under IEEPA have been ended, the overall level of U.S. import taxation remains elevated due to the temporary surcharge and ongoing Section 232 and Section 301 duties.

We’re monitoring implementation closely for further guidance. If you have questions about how these changes affect specific commodities or your supply chain, reach out to our customs compliance team.

Learn More About the Tariff Changes

Join our Global Trade team this Thursday at 2:00 PM ET as we walk through these developments, what they mean for your business, and practical mitigation solutions. Join Here.