âť“WHAT HAPPENED: Wall Street celebrated on Friday after the U.S. Supreme Court struck down a number of tariffs imposed by President Donald J. Trump under the International Emergency Economic Powers Act (IEEPA).
👤WHO WAS INVOLVED: The U.S. Supreme Court, President Trump, and markets such as the Dow Jones, S&P 500, and Nasdaq.
đź“ŤWHEN & WHERE: The Supreme Court ruling was announced on February 20, 2026, with global markets largely closing in the green late Friday afternoon.
🎯IMPACT: Major indexes like the Dow Jones and S&P 500 surged as companies began suing for tariff refunds.
Wall Street and globalist corporations celebrated on Friday after the U.S. Supreme Court ruled that President Donald J. Trump’s tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful. Major market indexes like the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite surged throughout the day, with all three closing with significant gains. However, despite corporate investors cheering the high court’s ruling, President Trump announced Friday afternoon he intends to use alternative federal statutes to reimpose the trade levies—including the restoration of a ten percent global tariff under Section 122 of the 1974 Trade Act.
At market close, the Dow Jones rose 0.4 percent, gaining 196 points. Meanwhile, the S&P 500 rose 0.6 percent, and the Nasdaq Composite rose 0.7 percent. While investors welcomed the Supreme Court’s reversal of some tariff measures, the Trump administration was quick to emphasize that the ruling is a significant blow to American workers.
Importantly, while the tariffs authorized under the IEEPA were struck down, other trade levies imposed through Section 301 of the 1974 Trade Act and Section 232 of the Trade Expansion Act of 1962 are in effect. The National Pulse reported earlier on Friday that President Trump, while addressing the ruling at the White House, warned that while some foreign countries are celebrating the court’s ruling, “They won’t be dancing for long.”
“It is my opinion that the court has been swayed by foreign interests,” the America First leader declared, while noting that the majority did concede that the President has the power to embargo and cut off foreign trade entirely under IEEPA. President Trump went on to cite several other federal laws, as outlined by Justice Brett Kavanaugh, that allow him to impose tariffs.
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