US President Donald Trump issued an executive order Friday terminating the collection of additional ad valorem duties imposed under several previous executive orders addressing national security, trade imbalances and foreign threats.

"In light of recent events, the additional ad valorem duties imposed pursuant to IEEPA (International Emergency Economic Powers Act) ... shall no longer be in effect and, as soon as practicable, shall no longer be collected," the White House said.

The executive order came after the US Supreme Court struck down most of Trump's tariffs.

In a 6-3 ruling, the court said Trump exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency.

According to the order, all affected departments and agencies are directed to take immediate steps to stop collecting the additional duties, with modifications to the Harmonized Tariff Schedule to be made as needed.

The order clarifies that other recent trade measures, including the Feb. 20 temporary import surcharge and suspension of duty-free de minimis treatment, remain in effect.

The White House emphasized that the action only terminates specific ad valorem duties under IEEPA and does not alter tariffs imposed under other trade authorities, including Section 232 of the Trade Expansion Act or Section 301 of the Trade Act of 1974. (AA)