The Fox News Rundown Business Rundown: Larry Kudlow Slams 'Stupid' Tariff Ruling
Feb 20, 2026
Larry Kudlow, economist and former White House economic adviser turned TV host, reacts to the Supreme Court tariff ruling. He calls the decision a legal misread and discusses alternate trade tools. He explains how refunds and inflation effects might play out. He closes with an upbeat economic outlook for growth and low inflation.
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Court Blocks Emergency-Tariff Authority
- The Supreme Court barred the president from using IEEPA to impose new tariffs, disrupting a key Trump trade tool.
- Larry Kudlow calls the ruling a legal technicality that prevents charging tariffs under emergency powers.
Use Other Statutes To Maintain Tariffs
- Use Section 122 to impose temporary tariffs of up to 50% for 150 days while other routes are pursued.
- Combine Section 122 with Section 301 and Section 232 to sustain trade pressure legally.
Legal Oddity Behind IEEPA Ruling
- Kudlow views the IEEPA prohibition on charging tariffs as a "stupid technicality."
- He argues the law allows embargoes but oddly forbids levying tariffs under emergency powers.