(LIVE BLOG) SCOTUS STRIKE: BESSENT SAYS 'FULL STEAM AHEAD' (UPDATE)

The US Supreme Court has struck down President Donald Trump's policy on tariffs, ruling 6-3 that the International Emergency Economic Powers Act (IEEPA) does not authorize the president to impose tariffs unilaterally. The decision, issued on Friday, February 20, 2026, marks a major legal and political setback for Trump’s economic agenda, which relied on emergency powers to impose broad import duties on goods from nearly every country. This awful decision might well trigger a financial melt down. Treasury Secretary Scott Bessent's entire monetary edifice is based on the tariffs policy, including the trade deficits that Trump considered a matter of national security. Trump press briefing scheduled for 12:45pmET.

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Chief Justice John Roberts, writing for the majority, stated that IEEPA contains no mention of tariffs and that the two words—regulate and importation—cannot bear the weight of granting such expansive authority.

The court emphasized that only Congress has the constitutional power to impose taxes, including tariffs, and that Trump’s use of emergency powers represented an unconstitutional expansion of executive authority.

The ruling invalidates tariffs imposed under IEEPA, including reciprocal tariffs (10% baseline, up to 34% on China) and a 25% tariff on goods from Canada, China, and Mexico linked to fentanyl trafficking allegations.

However, tariffs imposed under other legal authorities—such as those on steel and aluminum—remain in effect.

The decision opens the door for billions in potential tariff refunds, with estimates suggesting up to $175 billion may be owed to importers. 

Justices Clarence Thomas, Samuel Alito, and Brett Kavanaugh dissented, with Kavanaugh warning the ruling could create a mess in refund processing. The Trump administration called the decision a disgrace, but indicated it has a backup plan.

🚨 BREAKING: SCOTUS Justice Clarence Thomas dropped straight TRUTH BOMBS in his dissent on the tariffs

He nailed it.

"NEITHER the statutory text nor the Constitution provide a basis for ruling against the President." 🔥

"Congress authorized the President to “regulate . . .… pic.twitter.com/nhKtBQ669Y

— Eric Daugherty (@EricLDaugh) February 20, 2026

Update: WOW!

🚨 JUST IN: Treasury Sec. Scott Bessent just STUNNED the "Experts," he and Trump have been making big plans and it's FULL-STEAM AHEAD

Tariff revenue will be *unchanged* in 2026. Boom.

"Let's be clear about what today's ruling WAS and what it WASN'T. Despite the misplaced… pic.twitter.com/tYHk1DoEvy

— Eric Daugherty (@EricLDaugh) February 20, 2026

🚨 BREAKING: President Trump just announced he’s immediately signing an executive order imposing an ADDITIONAL 10% tariff across the board on national security grounds, under Section 122

Trump has also declared ALL tariffs under Section 301 will REMAIN IN PLACE.

“We’ll be able… pic.twitter.com/KBl2aaicbK

— Nick Sortor (@nicksortor) February 20, 2026

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