economy
February 21, 2026
Trump announces new 10% global tariff without congressional approval
President Donald Trump announced a new global 10% tariff during Friday’s press briefing, which followed the Supreme Court’s decision to strike down his “Liberation Day” tariffs.
TL;DR
- President Trump announced a new 10% global tariff under Section 122 of the Trade Act of 1974.
- This announcement follows the Supreme Court's decision to strike down his "Liberation Day" tariffs imposed under the International Emergency Economic Powers Act.
- Trump stated that existing national security tariffs under Section 232 and Section 301 tariffs remain in place.
- The Supreme Court's 6-3 decision against the president included Trump-appointed justices Gorsuch and Barrett.
- Justice Gorsuch noted in his concurrence that the legislative process is designed to incorporate the wisdom of elected representatives.
- The Trump administration's tariff policy has faced bipartisan criticism.
- Voters have criticized the administration for persistently high consumer prices, and Republicans worry about the impact on upcoming elections.
- Trump claimed credit for stock market milestones, attributing them to his economic policies.
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