Trump tariffs live: Trump vows to impose 10% global tariff after Supreme Court rules sweeping duties are illegal
Financial Times
February 20, 2026
AI-Generated Deep Dive Summary
The US Supreme Court has ruled that President Trump's sweeping tariffs on imported steel and aluminum are illegal, marking a significant rebuke to his use of emergency powers to impose duties on trading partners. In response, Trump has vowed to implement a new 10% global tariff strategy, signaling his determination to continue aggressive trade policies despite the legal setback. This move could have far-reaching implications for international trade relations and US businesses operating in global markets.
The original tariffs, which targeted imports from China and other countries, were implemented under the guise of national security concerns. However, the Supreme Court's decision invalidates this approach, arguing that Trump overstepped his constitutional authority by bypassing Congress. This ruling sets a crucial precedent, limiting the president's ability to unilaterally impose trade restrictions in the future. The timing of this decision, just months before the 2020 election, has also been interpreted as a political move to demonstrate presidential authority on key issues like trade.
For businesses, this shift could mean increased costs and uncertainty in global supply chains. While Trump's new tariff strategy aims to protect US industries, it risks sparking trade wars with allies and adversaries alike. Investors are closely watching how this legal and political landscape will evolve, as it could impact international markets and corporate strategies. The outcome of this legal battle may also shape future US trade policy and its relationship with other nations.
This development underscores the delicate balance between executive power and constitutional constraints in matters of foreign policy and economic strategy. As Trump seeks to redefine his approach to tariffs, businesses must navigate a complex environment where trade policies are both a tool of diplomacy and a potential source of conflict. The broader implications for global trade relations and US leadership on the world stage will be closely monitored by stakeholders worldwide.
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Originally published on Financial Times on 2/20/2026