Trump Tariff Tracker – May 8, 2026

In a May 7, 2026 decision, a divided U.S. Court of International Trade (CIT) panel held that President Trump’s 10 percent global tariffs imposed under Section 122 of the Trade Act of 1974 were unlawful and unauthorized, concluding that the statute’s narrow, time‑limited authority applies only to addressing “large and serious” balance‑of‑payments crises — not ordinary trade or current‑account deficits cited by the administration.  The court rejected the government’s expansive interpretation that would have allowed Section 122 to function as a catch‑all tariff power, emphasizing that Congress deliberately distinguished balance‑of‑payments deficits from trade deficits and did not intend Section 122 to bypass broader congressional control over tariffs.  While the CIT permanently enjoined collection of the duties and ordered refunds (with interest) only for the named plaintiffs — the State of Washington and two importers — the court declined to issue nationwide relief, leaving the