Just this evening, Trump again issued a document to raise the global tariff from 10% to 15%, which is the maximum limit of the current Section 122 Act. What needs to be explained is that this is not completely based on the previous superposition, but replaces the IEEPA's "emergency power tariff" framework that was invalid by the Supreme Court of the United States in the legal path. But this does not mean that all relevant taxes will be cleared to zero. Tariffs under other laws such as 232, 301, anti-dumping and anti subsidy may still exist, and the true tax burden of enterprises ultimately depends on the category and applicable rules. After switching to Section 122, the White House obtained a temporary window of about 150 days to impose temporary surtax on imports within the scope allowed by the bill, with 15% being the legal upper limit of this tool. After this adjustment, compared to the national stratification of the IEEPA era, there have indeed been some structural changes in the overall tariff level. Simply put, "the high ones are suppressed, and the low ones are raised". Tariffs have changed from being stratified according to national penalties to a more uniform face to face tariff rate. PS: There is still room for exemption for goods that enter compliance under the USMCA pathway in countries such as Canada and Mexico, and the final impact depends more on the product category, rules of origin, and whether they are included in the exemption list. In the IEEPA era, countries that were hit at 20%, 25%, 30%, or even 40% or more, such as the European Union, China, Japan and South Korea, Taiwan, Southeast Asia, etc., actually saw a decrease in reciprocal tariffs, while countries that originally had only a 10% baseline or maintained lower tax rates through arrangements (such as the United Kingdom) were directly raised by 15%. This also means that the logic of supply chain relocation will be changed again. Previously, companies were desperately moving from high tax countries to low tax countries or more exempted paths. Now, with the unification of 15%, the marginal benefits of simply changing places of origin have decreased. Companies are more concerned about whether they can be included in the exemption list, whether they can go through tax exemption agreements, and whether they will continue to be subject to other laws such as 232 and 301 in different categories. After IEEPA was rejected, the White House used Section 122 to extend the tariffs on the surface, and negotiated and rewrote longer-term tariff tools during the 150 day window period. For enterprises, uncertainty may increase, as whether to expand exemptions, how to enforce origin and compliance standards, and whether to switch to a longer-term legal framework after 150 days will directly affect costs and pricing. At the very least, it can be confirmed that the IEEPA's path of using emergency powers to treat tariffs as a conventional weapon in the long run will be more difficult to replicate than in the past. @bitget VIP， Lower rates and more generous benefits