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Winners & Losers of SCOTUS Decision Striking Down Tariffs
The long-awaited Supreme Court decision on tariffs is finally out; it was a 7-2 decision in part, 6-3 decision more broadly (I thought this should have been 9-0 or 8-1, but…). As we have seen in prior legal decisions with broad economic impact, the street doesn’t quite understand the subtle nuances of the case.1 Regular readers have seen my tariff criticism since Liberation Day (April 2, 2025); I have been tracking the case and thinking about the ramifications as it wound through the courts. Rather than spike the football, I would rather take a moment to step back and consider the winners and losers of tariffs. ... (full story)
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From @MarketsCapApp|Feb 20, 2026|4 commentsJust in | US Treasury Secretary Bessent suggests alternative trade authorities could effectively substitute for tariffs. BESSENT IN PREPARED REMARKS: TREASURY'S ESTIMATES SHOW THAT USE OF SECTION 122 AUTHORITY, COMBINED WITH POTENTIALLY ENHANCED SECTION 232 AND SECTION 301 TARIFFS WILL RESULT IN VIRTUALLY UNCHANGED TARIFF REVENUE IN 2026 ... US TREASURY SECRETARY BESSENT: TOTAL 2026 REVENUE WILL BE LITTLE CHANGED, IF AT ALL.
From @DeItaone|Feb 20, 2026|4 commentsTRUMP SAYS SOME TRADE DEALS NEGOTIATED UNDER IEEPA DON'T STAND Trump: Nothing changes on the India trade deal. TRUMP: POTENTIALLY HIGHER TARIFFS. THEY CAN BE WHATEVER WE WANT THEM TO BE. TARIFF RATES WILL BE VERY REASONABLE FOR NATIONS. ...
From @DeItaone|Feb 20, 2026|65 commentsTRUMP: 10% GLOBAL TARIFF TO BE IMPOSED ON TOP OF OTHER TARIFFS TRUMP: EFFECTIVE NOW, ALL NATIONAL SECURITY TARIFFS UNDER SECTION 301 REMAIN IN PLACE Trump: There is no need to ask Congress for additional action. Trump threatens 15% to 30% auto tariffs. TRUMP, ASKED IF U.S. HAS TO REFUND TARIFF REVENUE, SAYS I GUESS IT HAS TO BE LITIGATED
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