Finance
Reaction to US Supreme Court ruling and Trump's new tariff threat
Published by Global Banking & Finance Review®
Posted on February 23, 2026
3 min readLast updated: February 23, 2026
Quick Summary
After the Supreme Court struck down much of Trump's tariff regime, he shifted to a 15% temporary surcharge under Section 122. China, the EU, the ECB and Switzerland urged clarity, while the U.S. says existing trade deals remain in place.
Global Reactions to U.S. Supreme Court Ruling as Trump Eyes 15% Tariff
Feb 23 (Reuters) - U.S. President Donald Trump said he will raise a temporary tariff on U.S. imports from all countries to 15% from 10%, following a Supreme Court decision striking down a large swath of his tariffs. The new levies are grounded in a separate but untested law, known as Section 122.
U.S. Trade Representative Jamieson Greer said none of the countries that have reached trade deals with the U.S. had shared plans to withdraw following the Supreme Court ruling.
International Responses to U.S. Tariff Shift
Here are some reactions:
China's Commerce Ministry
CHINESE COMMERCE MINISTRY
China is making a "full assessment" of the U.S. Supreme Court's tariff ruling and urged Washington to lift "relevant unilateral tariff measures" on its trading partners, the Chinese commerce ministry said in a statement on Monday.
Calls to Lift Unilateral Tariffs
"U.S. unilateral tariffs ... violate international trade rules and U.S. domestic law, and are not in the interests of any party," the Chinese ministry added. "China will continue to pay close attention to this and firmly safeguard its interests."
European Commission
EUROPEAN COMMISSION
EU-U.S. Deal Terms Reaffirmed
The European Commission demanded the United States stick to the terms of an EU-U.S. trade deal reached last year.
"The current situation is not conducive to delivering 'fair, balanced, and mutually beneficial' transatlantic trade and investment, as agreed to by both sides" in the joint statement setting out the terms of last year's trade agreement, the Commission said. "A deal is a deal."
European Central Bank
EUROPEAN CENTRAL BANK
Lagarde Urges Policy Clarity
European Central Bank President Christine Lagarde said on Sunday the upheaval in U.S. trade policy could again disrupt business and hoped any new tariff plans were "sufficiently thought through" that businesses know what to expect.
Face the Nation Remarks
"To sort of shake it up again is going to bring about disruptions," Lagarde said on CBS' "Face the Nation".
People "want to do business. They don't want to go into...lawsuits. So I hope it's going to be clarified, and it's going to be sufficiently thought through so that we don't have, again, more challenges, and the proposals will be in compliance with the (U.S.) Constitution."
Switzerland's SECO
SWITZERLAND'S STATE SECRETARIAT FOR ECONOMIC AFFAIRS
Switzerland should prepare for the likelihood that U.S. tariffs will remain in place permanently, Helene Budliger Artieda, head of the State Secretariat for Economic Affairs, told Swiss newspaper SonntagsBlick.
Tariffs Likely to Persist
"I suspect we will have to come to terms with U.S. tariffs. It is clear that the U.S. administration remains committed to its trade policy goals: reducing the U.S. trade deficit, achieving greater reciprocity in international trade, and bringing production back to the United States."
Reporting and Editing Credits
(Writing by Michael Perry; Editing by Raju Gopalakrishnan)
Key Takeaways
- •Trump moved to a temporary 15% import surcharge under Section 122 after a Supreme Court ruling struck down major tariffs.
- •USTR Jamieson Greer said existing U.S. trade deals remain in place despite the ruling.
- •China urged the U.S. to lift unilateral tariffs; the European Commission insisted prior deal terms be honored.
- •ECB President Christine Lagarde warned fresh tariff shifts could disrupt business and called for clarity.
- •Switzerland’s SECO chief said countries should prepare for U.S. tariffs potentially becoming a lasting feature.
Frequently Asked Questions about Reaction to US Supreme Court ruling and Trump's new tariff threat
1What is the main topic?
Reactions from global policymakers and institutions after a U.S. Supreme Court ruling affected tariffs and Trump announced a temporary 15% import surcharge under Section 122.
2What is Section 122 and how long can tariffs last?
Section 122 of the Trade Act of 1974 allows a temporary import surcharge of up to 15% to address balance-of-payments issues. Actions are time-limited and typically last up to 150 days unless extended by Congress.
3Which countries or institutions responded?
China’s commerce ministry urged lifting unilateral tariffs; the European Commission insisted the U.S. honor existing deals; the ECB’s Christine Lagarde warned of disruptions; Switzerland’s SECO advised preparing for persistent tariffs.
4Do existing U.S. trade deals change after the ruling?
According to the U.S. trade representative, countries with existing trade agreements are not withdrawing and those deals remain in force, though businesses await clarity on how new surcharges interact with them.
