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The Economic Times

Economy / The Economic Times

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Trump team races the clock to rebuild US tariff wall knocked down by Supreme Court

A Supreme Court ruling has led to a notable decline in Treasury revenue from import taxes in the United States. President Trump's administration is under pressure with a July 24 deadline to recover the financial shortfall. New tariffs are being rolled out in accordance with Section 301 of the Trade Act of 1974 to confront issues like coerced labor and excessive production by international trade partners.

16 Jul 2026 9:45 pm