Bloomberg Surveillance · Monday, July 20, 2026
The upcoming expiration of Section 122 tariffs on Friday presents President Trump with an opportunity to potentially impose new tariffs or leverage existing authority in geopolitical negotiations, particularly concerning Iran and allied cooperation.
“The tariff authority is going to be available to the president at the end of this week if Jameson Greer has done his job correctly, because the Section one twenty two tariffs expire.”
“So if you're mad at Spain, if you're mad at France for not sending enough anti mind capability, so the UK or anybody, this is your opportunity to make a choice, do you want to keep penalizing everybody the way that you're doing with Iran and go to effectively a tariff war with those nations and ask him to get involved in the Strait and whether it's peacekeeping missions or military missions, this is your opportunity, and he has that chance this Friday.”
“The Supreme Court took away the president's tariff authority on February twentieth, and we started bombing on the twenty eighth. That is just so noticeable throughout the entire duration of this military war, the fact that the President hasn't been able to say, you will come with me to the street, you will help me in the street, unless where else I'm going to tariff you.”