The U.S. tariff landscape continues to shift rapidly.
On Friday, February 20, 2026, the Supreme Court issued a landmark decision striking down the president’s authority to impose sweeping tariffs under the International Emergency Economic Powers Act of 1977 (IEEPA). Just hours later, a 10% global tariff was imposed under Section 122 of the Trade Act of 1974, which increased to 15% the following day.
The new tariff can remain in effect for only 150 days unless Congress approves an extension.
It’s important to note that the Court did not rule tariffs themselves unconstitutional – only the method used to implement them under IEEPA. Tariffs have long been a tool for regulating and balancing global trade.
For now, there is uncertainty around what comes next.
SAX will continue to provide updates as new developments arise.