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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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From forex.com|Feb 20, 2026The prior week’s USD weakness was largely erased over the past week as the DXY basket returned to a massive spot of long-term interest on the chart. The 97.94 Fibonacci level came ...
From @MarketsCapApp|Feb 20, 2026|6 commentsJust in | Fed's Musalem: New Trump Tariffs Won't Impact Economic Outlook if They Follow One-for-One Structure FED'S MUSALEM: I DON'T SEE PRODUCTIVITY GROWTH IN THE MACRO DATA YET. ... Fed's Musalem: I am focused on PCE inflation, rather than CPI. Fed's Musalem: The real Fed funds rate is at or below the neutral rate. FED'S MUSALEM: SAYS COMPANIES ARE FACING COST PRESSURES AND HOUSEHOLDS REMAIN CHALLENGED BY INFLATION; ADDS THAT A NEUTRAL REAL RATE IS APPROPRIATE, THE REAL FED FUNDS RATE IS AT OR BELOW NEUTRAL, AND POLICY IS WELL POSITIONED.
From realeconomy.rsmus.com|Feb 20, 2026The Supreme Court overturned the Trump administration’s signature economic policy on Friday, ruling by a 6-3 majority that the imposition of tariffs under the International ...
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- Feb 20, 2026 1:25pm Posted byFundamental Analysis1,776
