Following the U.S. Supreme Court's ruling on February 20, 2026, which invalidated tariffs imposed under the International Emergency Economic Powers Act (IEEPA), President Donald Trump has enacted a new 10% blanket reciprocal tariff on imports from most countries under Section 122 of the Trade Act of 1974. This new tariff, announced on February 23, will lower the effective tariff rate for the U.S. to 9.4% from 12.7%, according to Fitch Ratings. The new tariff is set to expire in 150 days unless extended by Congress, and while it allows for a maximum tariff of 15%, it does not permit country-specific adjustments. Fitch noted that if the administration raises the levy to 15%, the effective tariff rate would increase to 11.3%. Notably, 26 of the 31 largest U.S. trading partners will see their effective tariff rates decline under this new framework, with Brazil benefiting the most, experiencing a drop from 29% to 11%.
BUSINESS
Trump Enacts 10% Global Tariff After Supreme Court Ruling
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Following a Supreme Court ruling, President Trump has enacted a 10% reciprocal tariff on imports, lowering rates for many countries, but drawing criticism from international partners amid trade unc...
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