Treasury
3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp
US Treasury par yield curve · Jul 27 · Source: U.S. Treasury
Tuesday, July 28, 2026
U.S. Edition
MONEY & WORLD
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Small Business

The 10 percent import surcharge expires on July 24, by the terms of the proclamation that created it

Money & World
The Editorial Team ·
A photograph illustrating container door hinge macro.
Photo: Jan van der Wolf / Pexels

Paragraph 7 of Proclamation 11012 contains an end date, and it arrives on Friday. The document, signed on February 20 and published at 91 FR 9339, applied a 10 percent ad valorem surcharge to goods entered for consumption on or after 12:01 a.m. eastern standard time on February 24. The tariff schedule modifications, it says, "shall continue in effect through 12:01 a.m. eastern daylight time on July 24, 2026," unless the surcharge is expressly suspended, modified or terminated earlier, or unless its effective period is extended by an Act of the Congress. That is six days from publication of this brief.

The ceiling is statutory rather than discretionary. Section 122 of the Trade Act of 1974, 19 U.S.C. 2132, authorises a surcharge of up to 15 percent ad valorem for a period not exceeding 150 days unless extended by an Act of Congress, and paragraph 17 of the proclamation recites that limit. The rate chosen was 10 percent. It sits on top of other duties, taxes, fees and charges, and it does not reach the exemptions set out in Annexes I and II: certain critical minerals, metals used in currency and bullion, energy and energy products, certain agricultural products including beef, tomatoes and oranges, pharmaceuticals and pharmaceutical ingredients, certain electronics, passenger vehicles and many vehicle parts, certain aerospace products, articles already subject to section 232 restrictions, and goods entered free of duty as originating in Canada or Mexico under general note 11 to the tariff schedule.

The surcharge is also in court. In Slip Op. 26-47, dated May 7, the Court of International Trade granted summary judgment and entered a permanent injunction for the State of Washington, Burlap and Barrel, Inc. and Basic Fun, Inc., and dismissed the claims of the other state plaintiffs for lack of standing. A motion to stay that order pending appeal was docketed on May 11 in Court No. 1:26-cv-01472. Whatever the appeal decides, the 150 days run out on their own.

The document: Proclamation 11012 of February 20, 2026, Imposing a Temporary Import Surcharge To Address Fundamental International Payments Problems, 91 FR 9339.

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