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
Chinazhōngguó中国planjìhuà计划20262026 nián2026年artificial intelligenceAIAIchipxīnpiàn芯片production capacitychǎnéng产能triplefān sānbèi翻三倍。
China Targets Tripling AI Chip Production in 2026 to Counter Nvidia Dependence
Chinazhōngguó中国artificial intelligenceAIAIchipxīnpiàn芯片manufacturerszhìzàoshāng制造商revenueyíngshōu营收significantlydàfú大幅growzēngzhǎng增长。
Chinese AI Chipmakers Report Soaring Revenue Growth in 2026 Earnings Season
United States / AmericanMěiguó美国July7 yuè7月Consumer Price Index (CPI)CPICPIonly / merelyjǐn仅to rise / to go upshēng升0.1 percent0.1%0.1%,interest rate hikejiā xī加息worry / concerndānyōu担忧to ease / to alleviatehuǎnjiě缓解。
US July CPI Rises Just 0.1 Percent as Tame Inflation Data Boosts Markets
Trian Fund Management (investment firm)Tèlǐān Jījīn特里安基金to plan / planjìhuà计划to acquire / takeovershōugòu收购Wendys (fast-food chain)Wēndí温迪,stock pricegǔjià股价to rise / to go upshàngzhǎng上涨13 percent13%13%。
Trian Fund Prepares Bid to Take Wendys Private as Stock Jumps 13 Percent