Tariff measures affecting Japan

Hours after the Supreme Court struck down the IEEPA tariffs, the administration imposed a 10% global import surcharge under Section 122 of the Trade Act of 1974. Section 122 caps such surcharges at 150 days unless Congress extends them, and no extension was published, so the surcharge expired on July 24, 2026 and is no longer collected. The Court of International Trade had separately ruled it unlawful on May 7, 2026; that appeal still matters because duties paid while it was in force may become refundable.

Current rate: No longer collected — the surcharge lapsed on July 24, 2026 at the end of its 150-day statutory maximum. It was 10% ad valorem on most imports, all origins.

The April 2025 'Liberation Day' executive order imposed a 10% baseline tariff on nearly all imports plus higher country-specific rates. After a year of pauses, extensions, and litigation, the Supreme Court ruled 6–3 on February 20, 2026 that IEEPA does not authorize tariffs, voiding the entire program. Duties already paid — industry estimates run as high as $175 billion — are potentially refundable; the administration replaced part of the program with a Section 122 surcharge the same day.

National-security tariffs on steel, in place since 2018 and sharply expanded in 2025–26: the rate doubled to 50% in June 2025, country exemptions ended, the duty base now covers the full customs value of derivative articles, and hundreds of downstream products were added. A 15% transitional rate for certain metal-intensive equipment runs through December 31, 2027. Unaffected by the Supreme Court's IEEPA ruling.

Current rate: 50% on steel articles and most derivatives; 15% transitional rate for certain metal-intensive equipment

National-security tariffs on aluminum, expanded in lockstep with steel: 50% since June 2025 for all origins, derivative coverage broadened repeatedly, duties assessed on full customs value since April 2026, and a 15% transitional rate for certain equipment through December 31, 2027. Unaffected by the Supreme Court's IEEPA ruling.

Current rate: 50% on aluminum articles and most derivatives; 15% transitional rate for certain metal-intensive equipment

50% tariffs on semi-finished copper and copper-intensive derivative products, effective August 2025 — the first Section 232 action on copper. The regime was folded into the unified metals framework in 2026: expanded coverage in April, further adjustments and a 15% transitional rate for certain categories in June, running through December 31, 2027.

Current rate: 50% on semi-finished copper and most derivatives; some categories at 25% or the 15% transitional rate

25% tariffs on imported passenger vehicles and light trucks since April 2025, extended to key auto parts in May 2025. USMCA-qualifying vehicles are tariffed only on non-U.S. content, and an import-adjustment offset phases down support for U.S. assemblers. Unaffected by the IEEPA ruling.

Current rate: 25% on passenger vehicles, light trucks, and listed auto parts

25% tariffs on imported medium- and heavy-duty vehicles and parts, and 10% on buses, effective November 1, 2025 under a Section 232 national-security finding.

Current rate: 25% on medium- and heavy-duty vehicles and parts; 10% on buses

A narrowly targeted 25% tariff on advanced semiconductors above defined performance thresholds (high-end AI accelerators and their derivative assemblies), effective January 15, 2026. Broad exemptions cover U.S. data centers, startups, R&D, and public-sector uses. The measure followed months of much broader verbal threats — up to '100% on all chips' — that were never formalized at that scope.

Current rate: 25% on semiconductors above defined performance thresholds and derivative products

The April 2026 proclamation imposes pharmaceutical tariffs in two phases. Duties have applied since July 31, 2026 to companies listed in Annex III; other companies are scheduled for September 29, 2026. The default rate on patented pharmaceuticals and ingredients is 100%, with 15% treatment for the EU, Japan, South Korea, and Switzerland, zero for the UK, and 20% or 0% for companies with approved U.S. onshoring agreements. Generics remain excluded for now.

Current rate: For covered Annex III companies: 100% default on patented pharmaceuticals; 15% EU/JP/KR/CH; 0% UK; 20% or 0% under approved company agreements

Tariffs on softwood timber and lumber (10%) and on upholstered furniture, kitchen cabinets, and vanities (25% and up), effective October 14, 2025, with scheduled escalations for furniture categories and country-deal carve-outs added by amendment in January 2026.

Current rate: 10% on softwood timber and lumber; 25%+ on upholstered furniture, kitchen cabinets, and vanities