✨February 20, 2026 (Friday): The Supreme Court, by a 6-3 vote, overturned Trump's broad global tariffs imposed under the International Emergency Economic Powers Act (IEEPA), citing an overstepping of authority. This decision dealt a significant blow to a key part of Trump's trade policy in his second term.

✨On the same day, Trump announced a temporary 10% global import tariff to replace the overturned tariffs. This tariff, under Section 122 of the 1974 Trade Act (an authority never before used), was designed to be applied for 150 days on the grounds of "serious balance of payments problems."
✨The tariff was to take effect on Tuesday, February 24, 2026, at 00:01 (Eastern Time). Some critical products (energy, certain agricultural products, pharmaceuticals, critical minerals, some electronics and vehicle parts) were exempted.
✨February 21, 2026 (Saturday): Trump revised the decision, announcing that he had increased the rate to 15%. This is stated as the maximum level permitted by Article 122.
#TrumpAnnouncesNewTariffs