The new Section 301 tariffs replace global tariffs based on Section 122 of the same trade act—dealing with balance-of-payments deficits—that had been in place since February and had a 150-day time limit that expired just after midnight on July 24. Section 122 tariffs stood at 10 percent, while the Section 301 duties stand at either 10 or 12.5 percent. Speaking on AS/COA Online’s Latin America in Focus podcast after that Supreme Court decision, CSIS’ Diego Marroquín Bitar highlighted the fact that the U.S. government is required to conduct investigations in order to enact Section 301 tariffs, providing “stronger guardrails” against possible legal challenges. Wolff argues that, much like in the IEEPA case, lawsuits against the 301 tariffs will be forthcoming, writing that: “Setting broad tariffs is the sole prerogative of the Congress, not the president.” Section 301 actions automatically expire after four years unless a U.S. business sector representative requests a renewal, in which case the USTR will review it.