In a notable turn of events, President Donald Trump has enacted a new 10% blanket reciprocal tariff on imports from most countries, announced on February 23, 2026. This decision follows the U.S. Supreme Court's ruling on February 20, which limited presidential power to unilaterally impose tariffs. While the new tariff is intended to lower the effective tariff rate for the U.S. to 9.4% from 12.7%, it raises questions about the effectiveness of Trump's trade strategy amid ongoing legal challenges. The Supreme Court's decision restricts any president's ability to use tariffs as a political tool, with Lori Wallach of Rethink Trade stating, "U.S. presidents do not have the power to unilaterally deploy tariffs and dole out punishment and favor to specific companies and economic sectors, friends and family, and entire countries."
BUSINESS
Trump Enacts 10% Global Tariff Following Supreme Court Ruling
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President Trump enacts a 10% tariff on imports after a Supreme Court ruling limits presidential tariff powers, raising concerns about trade strategy and ongoing legal battles over past tariffs.
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