President Trump’s new 10% global tariffs kicked in on Tuesday, as the fallout continues from the Supreme Court’s ruling invalidating his most sweeping duties.
The president signed an executive order late Friday imposing the 10% tariffs under Section 122 of the Trade Act of 1974. That went into effect early Tuesday. Trump has subsequently threatened to raise the levy to 15%, and Trump’s top trade adviser said the US will look to boost duties to that level on certain countries “where appropriate.”
European Union lawmakers postponed a vote to ratify the EU’s trade deal with the US, saying it needs “full clarity” on Trump’s next steps before proceeding. Later, an assessment from the bloc found that Trump’s newly instituted tariff likely violates the agreement, though the Trump administration has said the US would look to “accommodate” countries with trade deals.
The US trade representative also suggested duties on China would stay near current levels, after China warned against escalating duties.
Trump has spent the last several days furiously responding to the high court’s ruling. His first solution — the Section 122-imposed tariff — allows the president to impose tariffs of up to 15% for up to 150 days to address trade deficits. After 150 days, Congress would need to approve any extension.
The decision will have wide-ranging ramifications, affecting global trade, consumers, companies, inflation and the pocketbooks of every American. In recent weeks, Trump has already made plans to roll back some tariffs on metals, including on steel and aluminum goods, as he and his administration seek to battle an affordability crisis ahead of the midterm elections.
Read more: What Trump promised with his ‘Liberation Day’ tariffs — and what he delivered
LIVE 178 updates
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Trump slams Supreme Court’s ‘unfortunate involvement’ in tariffs, says the duties aren’t going anywhere
President Trump on Tuesday night offered another strong defense of tariffs during the State of the Union and proclaimed that “the deals are all done” with no changes in the offing, even as he pilloried “an unfortunate ruling from the United States Supreme Court.”
The highly anticipated moment saw the president address the issue and condemn “the Supreme Court’s unfortunate involvement” as four justices in attendance sat motionless a few feet away.
The president also claimed that congressional action will not be necessary to keep his tariffs in force and even claimed that the duties would eventually “substantially replace the modern-day system of income tax, taking a great financial burden off the people that I love.”
Trump again overstated the effects of tariffs. Tariffs have actually been bringing in only a small fraction of income tax revenue so far — about $30 billion a month in recent months. It was another forceful defense of Trump’s central economic policy, even as his public support on tariffs has been ebbing.
Lawmakers’ reaction in the room was mixed, after bipartisan votes in both chambers have rebuked Trump’s tariffs and Democrats are already pledging to block an extension of the new Section 122 tariffs when they come up for congressional review in 150 days.
The skepticism is also evident among voters. Some polls show Americans opposed to Trump’s tariffs by a nearly 2-to-1 margin. Just this week, a new ABC News/Washington Post/Ipsos poll found that 64% of Americans disapprove of Trump’s handling of tariffs, while only 34% approve.
- FedEx says it will return to customers any refunds it gets back from Trump’s illegal tariffs
Associated Press reports:
US may have to pay over $160B in tariffs refunds as companies start to sue
Over 900 companies have sued the US due to President Trump’s “Liberation Day” tariffs, which were struck down by the Supreme Court last Friday. This latest legal action is raising pressure on the Trump administration, who may have to issue refunds of more than $160 billion.
The FT reports:
- US commerce secretary, India minister discuss trade days after Trump’s tariffs are struck down
The US and India discussed trade on Thursday, the first meeting between the two sides since the Supreme Court struck down President Trump’s tariffs last week Friday.
Reuters reports:
- Trump tariff turmoil yet to dent emerging countries’: EBRD
- India holds line on Russian oil with Trump’s tariffs in question
Wed, February 25, 2026 at 4:13 PM UTC Greer: US tariff rate will rise to 15% for some countries but ‘accommodate’ those with deals
Some more comments from US Trade Representative Jamieson Greer, per Reuters:
- Wed, February 25, 2026 at 3:37 PM UTC Shoemaker Steven Madden withholds profit forecast on tariff uncertainty
Steve Madden’s (SHOO) stock fell 5% on Wednesday after the shoe and handbag maker withdrew its 2026 earnings forecast due to tariff uncertainty, in the first sign of chaos since the Supreme court shut down President Trump’s tariffs last week Friday.
Reuters reports:
Wed, February 25, 2026 at 1:54 PM UTC US trade representative: US aims to keep tariffs on China where they are
The White House will seek to keep levies on China at the levels set before the Supreme Court decision striking down large swaths of President Trump’s tariff regime, US Trade Representative Jamieson Greer said Wednesday morning.
In comments to Fox Business, Greer said the US is aiming to maintain its tariffs of 35% to 50% on goods from China — now using alternative methods.
“We expect that level to remain in place. We don’t intend to escalate beyond that,” Greer said Wednesday morning. “We intend to really stick to the deal that we had before.”
On Friday, the Supreme Court ruled that the president’s use of the International Emergency Economic Powers Act (IEEPA) to impose wide-ranging tariffs on foreign nations was illegal.
The White House has instituted a temporary 10% global levy since the ruling, and Greer said Wednesday morning that the US will soon be announcing a bump-up to 15% on its temporary 150-day global tariff. The administration is expected to use that window to implement new measures under other legislative authorities, such as the Trade Act’s Sections 301 and 232.
President Trump will head to Beijing for a meeting with Chinese leader Xi Jinping at the end of March, where the leaders of the world’s two largest economies are expected to discuss trade deals.
- Wed, February 25, 2026 at 11:30 AM UTC China says it has met US trade obligations, warns against more tariffs
China announced on Wednesday that it has already met all of its US trade obligations, even as the US threatens new tariffs following further investigations.
Reuters reports:
- Wed, February 25, 2026 at 10:37 AM UTC China’s $112B cargo gap shows record US tariff evasion
- Tue, February 24, 2026 at 2:02 PM UTC FedEx seeks a tariff refund in court after they are ruled illegal by Supreme Court
Now that the US Supreme Court has ruled against President Trump’s tariffs, many companies are seeking compensation for the money they spent on tariffs, and the first in line is FedEx (FDX), which is suing the US government and wants a full refund on what it paid for levies set by Trump during his “Liberation Day” tariff order last year.
The AP reports:
- Tue, February 24, 2026 at 10:56 AM UTC Trump’s new tariffs shift focus to balance of payments; economists see no crisis
President Trump’s promised temporary tariffs of 15% to replace those that were struck down by the US Supreme Court on Friday are meant to help solve a problem that some economists say is non-existent: a US balance-of-payments crisis. That could make the duties vulnerable to new legal challenges.
Reuters reports:
- Tue, February 24, 2026 at 9:36 AM UTC Trump eyes new trade probes to revive tariffs after court defeat
Following President Trump’s tariff defeat at the US Supreme Court, the administration is launching a new set of national security investigations to try to justify new global tariffs, according to a Bloomberg report.
Bloomberg News reports:
- Tue, February 24, 2026 at 9:32 AM UTC Tokyo calls on US to ensure Japan not worse off with new tariffs
- Tue, February 24, 2026 at 9:30 AM UTC Trump’s 10% levy takes effect as US rebuilds tariff wall
President Trump’s 10% global tariffs kicked in today, following the administration’s trade agenda to maintain the tariff regime after the US Supreme Court struck down Trump’s original “Liberation Day” tariffs on Friday.
Trump signed the executive order for 10% global tariffs on Friday, just a few hours after the ruling. The president threatened to raise them to 15%, but has not issued an official directive to do so.
Reports state that Trump and his team are currently working on raising the rate to 15% from 10%.
Bloomberg News reports:
- Mon, February 23, 2026 at 11:14 PM UTC EU warns Trump’s new tariff policy breaks trade agreement
The US trade deal with the European Union appears to be collapsing, as the bloc has warned that Trump’s shifting tariff priorities likely violate the agreement. This came after lawmakers voted to postpone ratification of the agreement to get “full clarity” on Trump’s next tariff steps after a setback in the US Supreme Court.
- Mon, February 23, 2026 at 4:32 PM UTC Early winners and losers emerge as Trump revamps his tariff regime
As President Trump moves to a “one size fits all” 15% tariff for 150 days, it’s creating clear winners and losers among nations transitioning to a new US tariff regime.
Yahoo Finance’s Ben Werschkul reports:
- Mon, February 23, 2026 at 4:02 PM UTC EU lawmakers postpone vote on US trade deal after tariff upheaval
European Union lawmakers delayed ratification of the trade deal between the United States and the EU on Monday after the Supreme Court struck down President Trump’s blanket tariffs and the president’s subsequent 15% tariff announcement shook up the trade landscape.
Reuters reports:
- Mon, February 23, 2026 at 11:58 AM UTC Trump pegs new tariffs to a payments crisis that experts doubt exists