What is Section 122 of 1974 Trade Act? Trump used to lift global tariffs from 10% to 15%​on February 22, 2026 at 3:27 am

Section 122 of the Trade Act of 1974 allows the US President to impose tariffs of up to 15% on a country to address “a large and serious United States balance-of-payments deficit.” Section 122 of the Trade Act of 1974 allows the US President to impose tariffs of up to 15% on a country to address “a large and serious United States balance-of-payments deficit.”