Updated July 31, 2026: Section 122 expired at its 150-day limit on July 24 and was replaced by the Section 301 forced-labor tariff — 10% for standard-tier countries, 12.5% for a 46-economy list that includes China, Vietnam, and Thailand. EU goods remain at the trade deal's 15% all-inclusive ceiling (since July 1), and the US declined USMCA renewal (0% preference unchanged). Check today's rate for your product →
As of July 31, 2026, most US imports pay a flat 10% base reciprocal tariff — plus whatever Section 232 and Section 301 surcharges apply to the specific product and origin. That 10% base is the Section 301 forced-labor tariff that replaced the expired Section 122 on July 24: it kept the 10% number for standard-tier countries but moved 46 economies — including China, Vietnam, and Thailand — to a 12.5% tier. EU-origin goods sit outside it entirely, at the trade deal's **15% all-inclusive ceiling** since July 1. If you're pricing a container today, here's the exact rate stack and how the July 24 transition changed what you owe.
The Baseline: 10% Base Reciprocal on Most Countries — 12.5% on 46 Economies, EU at 15%
Most countries pay 10% right now. Trump signed Section 122 on February 20, 2026 — the same day the Supreme Court struck down IEEPA in V.O.S. Selections Inc. v. United States — and it took effect February 24. Section 122 of the Trade Act of 1974 caps emergency tariffs at 15% and time-limits them to 150 days, so it expired at that 150-day limit on July 24, 2026. It was replaced the same day by the Section 301 forced-labor tariff: 10% for standard-tier countries and 12.5% for a 46-economy list that includes China, Vietnam, and Thailand. The one bloc outside this system: the EU. As of July 1, 2026, EU-origin goods pay the trade deal's 15% all-inclusive ceiling instead — it includes MFN rather than stacking on it (goods with MFN at or above 15% pay MFN only), covers autos at 15% in lieu of the 25% Section 232, and leaves steel and aluminum at 50%. For everyone else: if your goods enter the US today, they pay the 10% base reciprocal tariff (12.5% for the 46-economy list) on top of whatever MFN rate applies to the HTS code.
Section 232: Steel, Aluminum, Autos, Copper, Semiconductors, Lumber
Section 232 tariffs are imposed under national security authority and were not touched by the SCOTUS ruling. Steel pays 50% (doubled from 25% in June 2025). Aluminum pays 50%. Autos pay 25% on finished vehicles and parts. Copper pays 50%. Semiconductors pay 25%. Lumber pays 10%. Section 232 goods are carved out of the base reciprocal surcharge on their metal content, but Section 301 does stack. A Chinese steel coil today pays 50% Section 232 + 25% Section 301 = 75% — the base reciprocal tariff does not add on top of the metal. Section 232 is the durable tariff layer; it's been in place since 2018 in various forms and isn't going anywhere.
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Section 301: Still Live on China
Section 301 tariffs on Chinese goods remain in full force and stack on top of the 12.5% base. Most electronics, machinery, and consumer goods face 25%. Apparel and some textiles face 7.5%. Electric vehicles from China pay 100% Section 301. Solar panels pay 50%. Semiconductors from China pay 50%. Lithium-ion batteries for EVs pay 25%. The effective rate on most Chinese imports today is 37.5% (12.5% base + 25% Section 301). On EVs: 115%. On solar cells: 62.5%. Section 301 is the second durable tariff layer — and the July 24 forced-labor tariff that replaced Section 122 is itself a Section 301 action, moving China, Vietnam, Thailand, and 43 other economies to the 12.5% tier.
Worked Example: $25,000 Container of Consumer Electronics from China
A $25,000 CIF container of consumer electronics under HTS 8517.13.00 (smartphones) or 8471.30.01 (laptops). Base reciprocal at 12.5% = $3,125. Section 301 at 25% = $6,250. MFN is 0% on most finished electronics under these HTS codes. MPF at 0.3464% = $86.60 (capped at $614.35). HMF at 0.125% = $31.25. Total duty = $9,492.85. Effective rate: 38.0%. Under the old IEEPA regime the same container paid 20% IEEPA + 25% Section 301 = 45.5% effective — so the SCOTUS ruling cut this importer's duty by about $1,875 per container. The 37.5% rate is what to budget today. When Section 122 expired on July 24, this container didn't drop to Section 301 alone — the 12.5% forced-labor tier replaced it, so China stays at 37.5%. If Section 301 is expanded further, it goes up.
IEEPA Refunds: CAPE Portal Live Since April 20
CBP opened the CAPE refund portal on April 20, 2026. About $166 billion in IEEPA duties were collected between April 2025 and February 2026 — 330,000+ importers, 53 million shipments — with the bulk of that pool refund-eligible. Statutory interest runs 7% for individual importers and 6% for corporations under 19 CFR 24.36, compounded daily from the original collection date. Phase 1 covers unliquidated entries and entries within 80 days of liquidation. The filing workflow: register in ACE, enroll in ACH for electronic refunds, upload a CAPE Declaration CSV listing the entry numbers. Funds issue via ACH 60-90 days after declaration acceptance. Launch week was messy — duplicate-tax-ID errors, portal congestion — but filings are moving. See our step-by-step refund guide for mechanics.
The July 24 Transition
Section 122's 150-day clock expired July 24, 2026, and the President could not extend it unilaterally. It didn't lapse into a gap: USTR completed the Section 301 forced-labor investigations and the replacement took effect the same day — a 12.5% Section 301 tier on 46 economies (China, Vietnam, and Thailand among them) and a 10% standard tier for everyone else, relabeling the old baseline rather than dropping it. Unlike Section 122, Section 301 has no rate cap and no time limit, so this layer is durable. Standard-tier countries kept the 10% number; the 46-economy list moved up to 12.5%. EU goods sat this one out — the deal's 15% ceiling took effect July 1 and doesn't expire. The other date that just passed: July 31 was the pharma onshoring deadline, with threatened 100% tariffs on branded pharmaceutical imports (EU branded pharma capped at 15% by the deal).
Country-by-Country Snapshot
China: 12.5% base + 25% Section 301 = 37.5% on most products, higher on EVs/solar/semis. Vietnam: 12.5% flat (was 46% under IEEPA) — still major relief versus IEEPA, but moved to the 12.5% forced-labor tier on July 24. Mexico/Canada: USMCA preference still 0% for qualifying goods despite the US declining renewal at the July 1 joint review — the agreement stays in force with annual reviews; non-qualifying goods pay the 10% base reciprocal tariff. EU: 15% all-inclusive under the trade deal since July 1 (sits outside the base reciprocal layer for the bloc; MFN-or-15%, whichever is higher; autos 15%; steel/aluminum still 50%). India: 10% flat, standard tier. Japan: 10%, with 25% Section 232 on autos the biggest cost driver. South Korea: 10% on general goods, KORUS still preserves some preferences, 25% Section 232 on autos. Taiwan: 10% + 25% Section 232 on semiconductors = 35% on chips. For complete rate tables by country, see the tariff rates page.
What to Do This Week
Three moves if you import today. First: if you paid IEEPA between April 2025 and February 2026, pull every Form 7501 and start a CAPE filing now. Broker queues are backing up; the importers who filed in week one are already 2-4 weeks ahead on the validation clock. Second: any contract signing this week needs a duty adjustment clause — the 10% base reciprocal rate (12.5% for the forced-labor tier) is the floor, not the ceiling. Third: for products from the 46 economies now on the 12.5% forced-labor tier, model your landed cost against that rate plus any product-specific Section 301, and decide which delivery dates you'd accelerate if the lists expand further. Use the landed cost calculator to run those numbers before you commit orders.
Key Takeaway
Tariffs today, July 31, 2026: a 10% base reciprocal tariff on most countries (12.5% for the 46-economy forced-labor tier that includes China, Vietnam, and Thailand), the EU at the trade deal's 15% all-inclusive ceiling since July 1, plus Section 232 on steel/aluminum/autos/copper/semis/lumber, plus Section 301 on China. USMCA preference survived the non-renewal announcement — keep claiming it. Section 122 expired July 24 and the 12.5% Section 301 forced-labor tier replaced it. Budget rates at 10-12.5% minimum for Asia-Pacific suppliers, file your CAPE refund now (Phase 2 is live), build duty clauses into new contracts, and don't assume today's 37.5% effective rate on Chinese goods is the 2026 ceiling.
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