President Trump Imposes 15% “Global Tariff” Following SCOTUS Decision

On February 21, 2026, President Trump announced on Truth Social that the tariff rate of the newly imposed tariffs under Section 122 will be 15%, instead of the originally slated 10% that he had announced in an initial tariff proclamation from just one day prior. An Executive Order has yet to be released on this increase.

On February 20, President Trump signed a Proclamation imposing a temporary import duty to address fundamental international payments problems under Section 122 of the Trade Act of 197. This follows the Supreme Court striking down the IEEPA tariffs that morning. The original Proclamation imposes a 10% ad valorem import duty on articles imported into the United States, though that will increase to 15% when an updated Executive Order is issued. The temporary import duty takes effect on February 24 at 12:01 a.m. EST. The statute gives the President the authority to impose these tariffs for 150 days, after which Congress must vote to extend them. At this time, only goods in Annex I and Annex II of the proclamation are exempted. 

What This Means for Lauan Plywood

Lauan plywood is not on either of the annexes, meaning that at 12:01 am EST on February 24, 2026, it will be subject to the Section 122 15% tariff. It is unclear at this time how the Administration plans to handle the agreements reducing or removing the IEEPA tariffs, but Indonesia has requested that the zero-percent tariffs they negotiated remain. In the meantime, RV Industry Association staff will be meeting with the Office of the United States Trade Representative to learn more on how the deals will be handled and emphasize the importance of granting lauan a zero-percent tariff rate. 

Goods Not Subject to Temporary Import Duty

The following goods will NOT be subject to the temporary import duty: 

• Articles and parts of articles that currently are or later become subject to section 232 actions
• USMCA compliant goods of Canada and Mexico
• Textiles and apparel articles that enter duty-free as a good of Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, or Nicaragua under the Dominican Republic-Central America Free Trade Agreement
• Passenger vehicles, certain light trucks, certain medium and heavy-duty vehicles, buses, and certain parts of passenger vehicles, light trucks, heavy-duty vehicles, and buses

Implementation

Customs and Border Protection has published initial guidance for importers, available here. Tariffs imposed under IEEPA will officially no longer be collected starting at 12:00 am EST on Tuesday, February 24, 2026. Section 122 tariffs will begin being collected one minute later, at 12:01 am EST. The 10% tariff will not apply to goods loaded onto a vessel at the port of loading and in transit on the final mode of transit prior to entry into the United States before 12:01 AM EST on February 24 and that are entered for consumption, or withdrawn from warehouse for consumption, before 12:01 AM EST on February 28. CBP has not yet provided implementation details for those tariffs. 

To read the text of the Proclamation, click here.

To read the Fact Sheet, click here.

The RV Industry Association will continue to provide information as it becomes available. For a comprehensive overview of tariffs currently enacted, view the tariff tracker.