Tariff hike announced with immediate effect and 150‑day window On 21 Feb 2026 President Donald Trump posted on Truth Social that the United States will raise the worldwide customs duty from 10 % to the statutory maximum of 15 % effective immediately, with the decree slated to begin on 24 Feb and remain for 150 days [1][2][3][4]. The proclamation exempts pharmaceuticals and goods covered by the USMCA, while other sectoral tariffs on steel, aluminium, lumber and autos stay unchanged [1][2]. Trump framed the move as retaliation against nations he claims have “ripped” the U.S. off for decades [4].

Supreme Court 6‑3 ruling curtails use of IEEPA for tariffs The Court held that the president cannot invoke the 1977 International Emergency Economic Powers Act without explicit congressional authorization, overturning the legal basis for the earlier 10 % global tariff [1][2][3][4]. Chief Justice John Roberts emphasized the need for a clear legislative mandate, and dissenting Justice Brett Kavanaugh noted the decision does not address reimbursement of duties already collected [1]. The ruling opens the door for businesses to seek refunds of the roughly $130 billion collected in 2025 [1][2].

Section 122 of the 1974 Trade Act provides temporary legal footing Trump’s administration invoked Section 122, which permits a temporary duty of up to 15 % for a limited period pending congressional approval, typically about five months or 150 days [2][3][4]. After that window, Congress must enact legislation to extend or replace the measure, otherwise the tariffs expire [2][3]. The administration also continues to rely on other authorities such as Section 232 for steel and aluminium and Section 301 for investigations into unfair trade practices [4].

EU, UK and Brazil outline coordinated responses and concerns French trade minister Nicolas Forissier warned the EU could deploy its anti‑coercion instrument to limit U.S. investment and digital exports if the tariffs persist [1]. German Chancellor Friedrich Merz pledged a joint European stance before his Washington meeting, while President Emmanuel Macron called for “powers and counter‑powers” in democracies [1]. Brazil’s President Luiz Inácio Lula da Silva, speaking in New Delhi, urged equal treatment of all nations and cautioned against a new Cold War [1]; the UK maintains that its privileged trade deals on steel, pharma and aerospace remain intact [2].

Refund debate intensifies as businesses seek restitution The Supreme Court decision has triggered lawsuits demanding repayment of the $130 bn in duties collected under the invalidated IEEPA tariffs [1][2]. The U.S. Chamber of Commerce, National Retail Federation and Senators Maria Cantwell and John Kennedy have pressed the administration for swift reimbursement, arguing the delays could affect the 2026 midterm election climate [2]. Trump responded that the courts will resolve the refund issue over years, and his legal team has not indicated an immediate reversal of the collected amounts [1].