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Trump increased the rate of a new global tariff to 15 percent, vowing to work around the ruling that invalidated his emergency tariffs.
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What's far less certain is the longer-reaching impacts as the economy and markets again adjust to a changing landscape.
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The exemption was shut down last year by President Trump based, in part, on the same legal grounds as the tariffs that were invalidated by the Supreme Court.
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Dow Jones Futures: Stock Market Rallies On Trump Tariff Decision; Iran, Nvidia In Focus Investor's Business DailyTraders brace for Trump's new tariff plan, possible Iran attack and Nvidia earnings CNBCStock Market News From Feb. 20, 2026: Dow Rises After Supreme Court Strikes Down Trump's Tariffs Barron'sInvestors await direction as stocks churn The Berkshire Eagle
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The battle over the tariffs began on day one of the president's second term when he signed an executive order that let him impose a wide range of tariffs on virtually every U.S. trading partner.
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Trump slams justices after Supreme Court strikes down most of his tariffs The Washington PostA defiant Trump vows new tariffs while fuming at Supreme Court CNN‘Murky Waters' for Global Businesses After Trump's Tariff Loss The New York TimesTrump's New Trade Agenda Is on a Collision Course With Midterms The Wall Street JournalTrump news at a glance: president lobs insults at US supreme court for striking down his global tariffs
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The Trump administration says it could take years and additional litigation for importers to get their money back.
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The U.S. Supreme Court said President Trump exceeded his authority in using a 1977 law to justify a large swath of his tariffs, but that does not mean he's now unable to slap tariffs on other countries' products.
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The Supreme Court's decision striking down most of President Donald Trump's tariffs left at least one big question unanswered: What about refunds?
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