U.S. to stop collecting tariffs deemed illegal by Supreme Court on February 23

The U.S. Customs and Border Protection (CBP) announced that it will cease the collection of certain tariffs deemed illegal by the Supreme Court, effective February 23. This decision follows a recent ruling that declared these tariffs unconstitutional. However, the halt in collection specifically pertains to those tariffs, and it does not impact other tariffs imposed during the Trump administration, including those related to national security under Section 232 and unfair trade practices under Section 301. The ruling has significant implications for U.S. trade policy, reflecting ongoing debates about the legality and economic impact of tariffs as tools for trade regulation. Stakeholders, including importers and industries affected by these tariffs, are expected to monitor the situation closely as it unfolds, potentially reshaping international trade relations and domestic market dynamics.