On February 20, 2026, the U.S. Supreme Court invalidated most of the tariffs imposed by Donald Trump in 2025 under reciprocal duties. The central issue concerned the legal basis used, which was the International Emergency Economic Powers Act (IEEPA). The Court ruled that the IEEPA did not allow the president to impose this type of additional tariff without the approval of Congress.
In response, the Trump administration sought and found another legal basis for maintaining additional tariffs on imports. The stakes are high: revenue from these tariffs is estimated at over $130 billion in 2025 ( according to commonly cited estimates).
The announced mechanism is based on a 10% surcharge applicable for a period of 150 days.
Point of attention: this new measure could in turn be subject to challenges, both in terms of its conditions for activation and its scope. To be continued, therefore.
Several immediate consequences of this situation arise:
- Likely increase in refund requests:many operators are expected to file claims for reimbursement of duties paid on the basis that is now being contested. What will the terms and conditions be, however?
- What does the future hold for agreements concluded with Washington? This question is particularly relevant for the EU (but not exclusively), given the EU/US agreement to cap tariffs at around 15% in an imperfect ceiling approach, as it depends on the MFN rate. In this context, the EU has warned that any challenge to the announced framework through an increase in tariffs would be unacceptable.
- An unstable environment, because even though those around the White House are trying to be reassuring, frequent reversals are common across the Atlantic. It is therefore advisable to keep a close eye on future episodes of this ongoing saga.
Please note that if you are interested in this topic, it will be covered in depth (along with others) in our next podcast, which will be available very soon.
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