The summer tariff landscape is developing quickly. As Section 122 duties approach their July 24, 2026 expiration, the Administration is advancing alternative mechanisms to preserve, replace or supplement the current duty structure. For businesses, the central issue is no longer whether a single tariff applies, but how multiple tariff programs could overlap. Several recent proposals contemplate duties that would apply in addition to other applicable duties unless an exemption applies.
In this report, we review 10 key tariff and trade developments shaping tariff exposure, supply-chain planning and customs compliance, and offer practical steps importers should consider now to assess cumulative duty exposure and prepare for potential changes.
