If the Supreme Court had opted to uphold tariffs issued under IEPPA, the nation's effective tariff rate would have remained at 16%, the Yale Budget Lab said. Taking into account Section 122 tariffs, the effective tariff rate now stands at 13.7%, the group said.

Trump promised a flurry of new measures but he faces legal limitations.

The Supreme Court ruled last week that President Trump had exceeded his authority in implementing certain tariffs. On February 20, 2026, the SCOTUS ruled 6-3 that IEEPA does not authorize the President to impose broad,

In a 6-3 decision by Chief Justice John Roberts, the court upheld a lower court ruling that Trump exceeded his authority by invoking the International Emergency Economic Powers Act (IEEPA) to levy broad import taxes.

President Donald Trump has turned tariffs into the centerpiece of his economic strategy, and in 2026 the policy will bite even harder. The new schedule of import taxes, paired with promised $2,000 "tariff dividend" checks, is reshaping who pays more at the cash register and who might see money back from Washington. I want to...

Tariffs, transactional deals, and trade wars will impact international business after Trump is gone. Four essential issues key to resilient international trade strategy.