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MARKET GAINS: Stocks jump after Supreme Court strikes down Trump's tariffs
Posted
February 20, 2026
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February 20, 2026
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5:32Now PlayingThe Supreme Court ruled Friday the International Emergency Economic Powers Act (IEEPA) does not authorize President Donald Trump to impose his global tariffs.
The high court's decision centers on tariffs imposed under an emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country.
Friday's ruling comes despite a series of short-term wins on the court's emergency docket that have allowed Trump to push ahead with extraordinary flexes of executive order on issues, including high-profile firings to major federal funding cuts.
The high court's decision centers on tariffs imposed under an emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country.
Friday's ruling comes despite a series of short-term wins on the court's emergency docket that have allowed Trump to push ahead with extraordinary flexes of executive order on issues, including high-profile firings to major federal funding cuts.
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