US Customs to stop collecting Trump tariffs deemed illegal by Supreme Court from February 24

In a significant move, the US government has announced that it will cease the collection of tariffs imposed during Donald Trump's presidency, which have been deemed illegal by the Supreme Court. This decision, effective from 12:01 AM on February 24, follows an order made public on February 20 and posted on the White House website. The tariffs, which were initially introduced as part of Trump's trade policy, faced legal challenges and were ultimately ruled as unconstitutional by the Supreme Court. The cessation of these tariffs is expected to impact various sectors, particularly those reliant on imports, and could lead to changes in pricing for consumers. Observers note that this development may also have wider implications for US-China trade relations, as the tariffs were primarily targeted at Chinese goods. As the Biden administration seeks to recalibrate trade policies, the decision reflects an effort to align with legal standards and potentially foster better international trade dynamics. Businesses and economists are closely monitoring the situation, anticipating how this policy shift will influence market conditions and economic recovery in the post-pandemic landscape.