On May 5, 2026, the World Trade Organization (WTO) Committee on Balance-of-Payments (BoP) Restrictions met to discuss the USA’s new notification regarding the imposition of import surcharges to address the country’s serious BoP deficits. The USA said the surcharges took effect on February 24, 2026, and will expire on July 24, 2026, unless extended by an act of Congress. Members welcomed the transparency of the USA and its readiness to engage in consultations in line with WTO rules.
The USA said that on February 20, 2026, the President of the USA imposed a 10% ad valorem import surcharge on all goods from all trading partners, subject to certain product exceptions, pursuant to Section 122 of the Trade Act of 1974, citing fundamental international payment problems. The USA notified this BoP measure to the WTO on March 20, 2026 (WT/BOP/N/85). The import surcharge applies in excess of the bound duty rates agreed to by the USA in its WTO Schedule of Concessions on goods.
The USA said it was ready to enter into consultations within the Committee. It also requested that consultations take place next month, as provided for under WTO rules.
Members welcomed the USA’s transparency and acknowledged that recourse to BoP measures is provided for under the General Agreement on Tariffs and Trade (GATT) 1994. At the same time, members raised concerns about the necessity of the measures and their impact on global trade. They noted the role of the International Monetary Fund (IMF) in these matters. They expressed their readiness to participate in the consultations with the USA. Under WTO rules, such consultations should take place within four months of the measure’s adoption.
More information
WTO members facing balance-of-payment difficulties may apply import restrictions under provisions in the GATT 1994 and under the General Agreement on Trade in Services (GATS).
The BoP Committee consults with WTO members who maintain import restrictions for balance-of-payments reasons. The IMF is invited to participate in BoP Committee meetings.
More information is available at: