The Trump administration said it will stop collecting tariffs imposed under emergency powers after the Supreme Court ruled the measures were illegal.
U.S. Customs and Border Protection said the tariff codes tied to the International Emergency Economic Powers Act will be deactivated as of Tuesday just after midnight, ending collections under those orders.
Markets reacted to the shift in policy, with the dollar weakening and investors moving into safe-haven assets.
The ruling struck down the “liberation day” tariffs imposed last year, with the court finding the president lacked unilateral authority to levy them under emergency powers.
President Trump said over the weekend that his administration would replace the invalidated measures with a new flat 15% global tariff under a different legal authority, set to take effect Tuesday and potentially last up to 150 days.
The agency did not provide guidance on refunds for tariffs already collected.
U.S. officials said recent trade deals remain in place and urged partners to stand by existing agreements, according to the trade representative.
China’s commerce ministry called on Washington to lift the tariffs and warned that trade wars benefit no one, saying it is assessing the ruling’s impact.
