Global Leaders Assess US Tariff Ruling as Trump Proposes New 10% Duties

Global trade partners scrambled on February 21, 2026, to assess the impact of a U.S. Supreme Court ruling that invalidated specific Trump-era tariffs. The legal reprieve was immediately tempered by President Trump’s announcement of plans for new 10% global tariffs under different legal authorities. South Korean officials convened emergency meetings, noting that levies on key exports like steel and automobiles remain unaffected by the court decision. French President Emmanuel Macron praised the "rule of law" but warned against triumphalism, citing the administration's swift pivot to new trade barriers. The policy volatility continues to disrupt investment decisions, with Swiss tech exports to the U.S. falling 18% in the fourth quarter. European officials are now demanding refunds for overpaid duties. Bernd Lange, chairman of the European Parliament’s trade committee, estimates German companies overpaid more than 100 billion euros ($118 billion). Business leaders across Mexico and Europe identified regulatory uncertainty as the primary threat to economic stability.