The Tariff Wall Was Rebuilt, Not Lowered, and Allied Content Now Sets the Price

The 10% Section 122 surcharge lapsed on July 24 and roughly $100 billion of IEEPA duties is returning to importers, but a 10–12.5% Section 301 layer replaced it the same minute, and Section 232 now charges 100% at the standard rate while capping approved partners at 15%.