What's New
Explore our latest reports and pieces
Spotlight
.jpg)
The Section 122 Exemption Structure, Explained
What changed and what didn't in the product exemption structureThe product exemptions underpinning President Trump's new Section 122 surcharge are nearly identical to those under the IEEPA regime it replaces.
Johannes Fritz 23 Feb 2026
Section 122 in effect: what the US tariff regime looks like now
The Section 122 proclamation imposes a surcharge on most US imports (raised from 10% to 15% on 22 February), effective 24 February 2026 for 150 days. The trade-weighted average US tariff rate is 13.2% under S122 at 15%, compared with 11.6% at 10%, 15.3% before SCOTUS, and 8.3% after the IEEPA strike-down.The Supreme Court struck down IEEPA tariffs on 20 February 2026. The White House responded with a Section 122 proclamation imposing a surcharge on most imports (initially 10%, raised to 15% on 22 February), effective 24 February 2026 for 150 days. The trade-weighted average US tariff rate is 13.2% under S122 at 15%. This report quantifies the tariff regime under four scenarios: before SCOTUS, IEEPA strike-down, S122 at 10%, and S122 at 15%. The analysis covers 274,000+ trade flows at the exporter x HS 8-digit level.
Johannes Fritz 21 Feb 2026
From IEEPA to Section 122: What Changed on 20 February 2026
The Supreme Court struck down the IEEPA tariffs. The White House reimposed them under Section 122 within hours. Here is what changed.On 20 February 2026, the Supreme Court struck down President Trump's IEEPA tariffs. Within hours, the White House reimposed them under Section 122 of the Trade Act of 1974.
Fiama Angeles, Johannes Fritz 21 Feb 2026
All Analyses
The Section 122 Exemption Structure, Explained
What changed and what didn't in the product exemption structureJohannes Fritz 23 Feb 2026
The Supreme Court Rules, Uncertainty By Design Remains: A Guide to the New US Tariff Regime
ZEITGEIST SERIES BRIEFING #86Simon Evenett 23 Feb 2026
Section 122 in effect: what the US tariff regime looks like now
The Section 122 proclamation imposes a surcharge on most US imports (raised from 10% to 15% on 22 February), effective 24 February 2026 for 150 days. The trade-weighted average US tariff rate is 13.2% under S122 at 15%, compared with 11.6% at 10%, 15.3% before SCOTUS, and 8.3% after the IEEPA strike-down.Johannes Fritz 21 Feb 2026
From IEEPA to Section 122: What Changed on 20 February 2026
The Supreme Court struck down the IEEPA tariffs. The White House reimposed them under Section 122 within hours. Here is what changed.Fiama Angeles, Johannes Fritz 21 Feb 2026
Global Trade Alert in the News
Recent mentions and citations of our evidence and insights.Global Trade Alert 21 Feb 2026
What the SCOTUS ruling on IEEPA means for US tariffs
The Supreme Court ruling in Learning Resources v. Trump strikes down IEEPA tariffs, reducing the trade-weighted average US tariff from 15.4% to 8.3%Johannes Fritz 20 Feb 2026
Tariff Watch: Real-Time Information on Trump’s Trade Deals
Latest Update: 19 February 2026, 4:00 pm CETAna Elena Sancho, Anttoni Asikainen, Marius Risse & others 19 Feb 2026
China's Exports in 2025: Bilateral Tariff Hit, Limited Global Diffusion
ZEITGEIST SERIES BRIEFING #85Simon Evenett 19 Feb 2026
Trade Redirection of Chinese Exports During 2025: Evidence from Full-Year Data
ZEITGEIST SERIES BRIEFING #84Simon Evenett 18 Feb 2026
Rerouted Supply, Uneven Absorption: Firm-Level Transmission of Trade Wars
ZEITGEIST SERIES BRIEFING #83Fernando Martín Espejo 17 Feb 2026
Tariff Deals Booklet
A visual guide to the US tariff-related dealsAna Elena Sancho, Marius Risse 12 Feb 2026
Debt Purchases: The Crisis Instrument That Stayed One
The third instalment in our analytical series on state capitalism.Johannes Fritz 11 Feb 2026
Show
12
Page
1
2
...
19