In a significant development following the U.S. Supreme Court's ruling on February 20, 2026, which limited presidential power to unilaterally impose tariffs, President Donald Trump has enacted a new 10% blanket reciprocal tariff on imports from most countries. This tariff, announced on February 23, is set to lower the effective tariff rate for the U.S. to 9.4% from 12.7%, according to Fitch Ratings. However, the Supreme Court's decision has broader implications, as it restricts the ability of any president to use tariffs as a political tool. Lori Wallach of Rethink Trade emphasized that the ruling could hinder the use of tariffs to enforce loyalty or silence criticism, 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 Implements 10% Tariff Following Supreme Court Ruling
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Following a Supreme Court ruling limiting presidential tariff powers, Trump imposes a 10% tariff on imports, while facing legal challenges over previous tariffs and their refunds, complicating trad...
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