Supreme Court Ruling Curbs Trump's Tariff Powers; President Enacts 15% Universal Levy

The U.S. Supreme Court struck down President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) for tariffs on February 22, 2026, significantly limiting his ability to impose duties for non-trade reasons. Trump immediately responded by enacting a universal 15% tariff on all imports under alternative statutory authorities. Legal experts note the ruling removes the administration's "anytime, anywhere" leverage, requiring longer implementation timelines for future levies. Despite the legal setback, the White House ordered new trade investigations, and officials insist existing agreements with nearly 20 countries remain valid. Analysts suggest trading partners retain slightly more bargaining power, though uncertainty persists regarding potential refunds for previously collected duties and the scope of new retaliatory measures.