What is Section 122 of the Trade Act?

Section 122 of the 1974 Trade Act allows a temporary import surcharge up to 15% for roughly 150 days without prior congressional approval. It is meant as a stopgap. After that window, Congress would need to act for any longer or broader measure, which adds timing uncertainty for companies and markets.

How could Trump 15% global tariffs affect Canadian inflation?

Higher duties on U.S. imports can raise costs for goods with foreign content, including electronics and equipment that Canadian firms buy. Some pass-through could lift prices in CAD, depending on contracts and hedges. The Bank of Canada would assess persistence before reacting, so watch guidance from large retailers and tech buyers.

Which Canadian sectors look most exposed now?

Tech-adjacent areas tied to U.S. capex and cloud are sensitive, along with electronics distributors, logistics, and select industrials with imported inputs. Consumer electronics retailers may face margin pressure if suppliers push surcharges. Software and services with low hardware dependence tend to be more resilient to import surcharges in the near term.

What signals on the Nasdaq 100 should I watch this week?

Watch the 24,333 to 26,141 Bollinger range, RSI around mid-40s, and ATR near 402 for volatility. A daily close outside bands with volume can flag a trend leg. Headlines on Trump 15% global tariffs may drive gaps, so consider staggered entries and stop-loss discipline rather than single, large orders.

Law and Government

^NDX Today, February 21: 15% US Tariff Plan Hits Tech Supply Chains

ByDanny Kontos February 22, 2026February 22, 2026

Trump 15% global tariffs are back on the table under the Section 122 Trade Act, a temporary tool that can lift import duties for roughly five months. For Canadian investors, this is a legal and market story. It can raise costs across tech supply lines, from chips to devices, and sway the Nasdaq 100 today. We track ^NDX for sentiment read-through, since U.S. mega-cap tech sets global risk tone and drives demand for Canadian suppliers and services.