US Supreme CourtMěi zuìgāo fǎyuàn美最高法院to rulecáidìng裁定presidentzǒngtǒng总统has no authoritywúquán无权to invokeyuányǐn援引emergency lawjǐnjí fǎ紧急法to impose tariffszhēng shuì征税，TrumpTèlǎngpǔ特朗普immediately thereaftersuíjí随即to announcexuānbù宣布new tariffsxīn guānshuì新关税。
February 21, 2026 at 6:00 PM
New Words
News in English
BusinessUS Supreme Court Rules President Cannot Use IEEPA to Impose Tariffs; Trump Announces New Levy
The US Supreme Court ruled that the IEEPA does not authorize the president to impose tariffs; Trump immediately invoked Section 122 of the Trade Act to announce a 10 percent global uniform tariff on all imports.
The US Supreme Court ruled 6-3 on February 20 that the International Emergency Economic Powers Act does not authorize the president to levy tariffs on global goods.
This ruling overturned the Trump administration's previously large-scale tariff measures invoking this law.
Hours after the ruling was issued, President Trump announced he would invoke Section 122 of the 1974 Trade Act, imposing a 10 percent global uniform tariff on all imported goods from all countries.
The new tariffs formally took effect on February 24 early morning, with a duration of 150 days, namely until July 24.
Trump subsequently hinted on social media that he intends to raise the tax rate to the maximum cap of 15 percent stipulated by the relevant statutory provision.
Already, 24 US states have jointly filed lawsuits with the Court of International Trade seeking to block implementation of the new tariffs.
Additionally, a federal judge has ordered the government to refund more than $130 billion in tariff payments to over 2,000 companies.
Analysts pointed out that this round of drastic trade policy fluctuations not only has increased corporate operational uncertainty but has also caused far-reaching impact on the global supply chain.
More in Business
International Monetary Fund (IMF)Guójì Huòbì Jījīn Zǔzhī国际货币基金组织and / withyǔ与World BankShìjiè Yínháng世界银行annual meetingniánhuì年会inzài在BangkokMàngǔ曼谷officially / formallyzhèngshì正式to open / to commencekāimù开幕。
IMF and World Bank Annual Meetings Open Formally in Bangkok
CanadaJiānádà加拿大trademàoyì贸易ministerbùzhǎng部长to leadshuài率300 peoplesān bǎi rén三百人delegationdàibiǎotuán代表团to go tofù赴IndiaYìndù印度to visitfǎngwèn访问。
Canadian Trade Minister Leads 300-Member Delegation to India
artificial intelligenceréngōng zhìnéng人工智能revenue / incomeshōurù收入prospects / outlookqiánjǐng前景to trigger / to causeyǐnfā引发doubts / questionsyíwèn疑问，semiconductorbàndǎotǐ半导体stock pricegǔjià股价fromcóng从Octobershí yuè十月peak / high pointgāodiǎn高点to retreat / to fall backhuíluò回落。
AI Revenue Uncertainty Pulls Semiconductor Stocks Off October Highs
United StatesMěiguó美国stock marketgǔshì股市Fridayzhōuwǔ周五strongly / with forceqiángshì强势to rebound / to rallyfǎntán反弹，Dow Jones IndexDào Zhǐ道指gained more thanzhǎng chāo涨超400 points400 diǎn400点，to end / to concludejiéshù结束volatile / turbulentdòngdàng动荡(particle)de的one weekyī zhōu一周。
US Stocks Cap Volatile Week With Strong Friday Rally as Dow Gains Over 400 Points