In a significant development, President Donald Trump has enacted a new 10% blanket reciprocal tariff on imports from most countries, announced on February 23, 2026. This move comes in the wake of the U.S. Supreme Court's ruling on February 20, which limited presidential power to unilaterally impose tariffs. While the new tariff is set 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% Tariff Amid Supreme Court Ruling Challenges
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President Trump enacts a 10% tariff on imports, following a Supreme Court ruling limiting presidential tariff powers. Legal battles loom, raising concerns about trade policy effectiveness and refunds.
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