Tariffs pose "huge uncertainty" after Supreme Court ruling, experts say

The Trump administration is unlikely to back down from pursuing additional tariffs following the Supreme Court decision, according to trade experts. MoneyWatch Trump tariffs still pose "huge uncertainty" after Supreme Court ruling, experts say By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi February 23, 2026 / 3:51 PM EST / CBS News Add CBS News on Google The Supreme Court's Friday ruling striking down President Trump's "Liberation Day" tariffs will not free U.S. companies from their concerns about the direction of trade policy."There is huge uncertainty" facing businesses and U.S. trading partners following the landmark decision, said William Reinsch, senior adviser at the Center for Strategic and International Studies and the former president of the National Foreign Trade Council. "There is a lot of dust that has yet to be settled — companies don't know what they will be charged."Mr. Trump himself is kicking up some of that dust. Immediately after the ruling, he announced a temporary 10% global tax on U.S. imports, before hiking the levy to 15% on Saturday, while also blasting the high court's decision on social media as "ridiculous" and "extraordinarily anti-American."Heavy blow for Trump tariffsThe Supreme Court ruled 6-3 that the International Emergency Economic Powers Act, or IEEPA, does not authorize the president to impose broad-based tariffs, sharply curtailing the Trump administration's use of emergency powers in trade policy. Later that day, Mr. Trump invoked Section 122 of the Trade Act of 1974 to impose new duties."Any Country that wants to 'play games' with the ridiculous supreme court decision, especially those that have 'Ripped Off' the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!!" Mr. Trump said Monday on Truth Social. The White House didn't immediately respond to a request for comment. The court's decision, as well as Mr. Trump's response, raises fresh questions for U.S. businesses and foreign trading partners. Some of those partners had negotiated trade deals with tariffs higher than the new 15% rate, experts noted. And because the Section 122 tariffs are set to expire in 150 days unless extended by Congress, American companies are left to ponder the direction of tariffs and where rates might eventually settle. "Pure tariff chaos"The Trump administration will stand by its trade deals and expects its partners to do the same, U.S. Trade Representative Jamieson Greer said Sunday on "Face the Nation with Margaret Brennan."Yet there are signs that some nations may be reconsidering those trade deals, especially those that reached agreements at rates higher than the current 15% level set by Mr. Trump on Saturday. A top European Union lawmaker said Sunday he would propose pausing ratification of a new trade agreement between the EU and the U.S., citing fresh uncertainty. India, which earlier this month agreed to a 18% tariff rate in an interim deal with the U.S., has also postponed a trade visit to Washington that was aimed at finalizing the agreement, according to CNBC. "Pure tariff chaos on the part of the U.S. administration," Bernd Lange, chair of the European Parliament's international trade committee, wrote on social media. "No one can make sense of it anymore — only open questions and growing uncertainty for the EU and other U.S. trading partners." Greer said he spoke with his European counterpart this weekend and has not been told the deal is off."The deals were not premised on whether or not the emergency tariff litigation would rise or fall," Greer said on Face the Nation. "I haven't heard anyone yet come to me and say the deal's off. They want to see how this plays out."What happens now?Mr. Trump has turned to Section 122 of the Trade Act of 1974 to replace the tariffs struck down by the Supreme Court. That legal provision allows the president to impose duties of up to 15% for 150 days to deal with "large and serious" balance-of-payment issues. After 150 days, the tariffs would need to be extended by lawmakers. That proposal could face an uphill climb in Congress, Cato Institute trade expert Colin Grabow told CBS News, noting that some Republican lawmakers, such as Sen. Rand Paul of Kentucky, have spoken out against tariffs."The baseline for a lot of people is that these 15% tariffs are going to be in place in the next 150 days — but beyond that, what does that look like? Also, uncertainty," Grabow said. Because Mr. Trump remains committed to tariffs as both an economic and foreign policy tool, his administration is expected to continue pursuing avenues to stiffen import duties, both Grabow and Reinsch told CBS News.When the Section 122 tariffs expire, Mr. Trump could turn to other trade laws, such as Section 301 of the Trade Act. Tha