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 15% tariff on imports from all countries under Section 122 of the Trade Act of 1974. This decision, announced on February 23, signals a strategic shift in trade policy rather than a retreat from protectionism. Trump asserted that the ruling leaves room for other tariffs, stating, "The court has also approved all other tariffs, of which there are many, and they can all be used in a much more powerful and obnoxious way, with legal certainty." However, the ruling has triggered a wave of legal challenges, with claims for refunds soaring as businesses seek to recover losses from the Trump administration's previous tariff policies, according to the Financial Times on February 26, 2026.
BUSINESS
Trump Enacts 15% Tariff After Supreme Court Ruling On Ieepa
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After the Supreme Court invalidated previous tariffs, Trump imposed a new 15% tariff on imports, signaling a shift in trade policy. Legal challenges arise as international partners react negatively.
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