Economist Podcasts When the levy brakes: Trump’s tariffs struck down
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Feb 23, 2026 
Rachana Shanbhogue, Business-affairs editor who explains US trade law and tariffs, and Aaron Connelly, Asia diplomatic editor who tracks Australian coalition politics. They unpack the Supreme Court ruling on Trump’s tariffs and how he might rebuild trade barriers. They also explore One Nation’s surge and the strain it puts on Australia’s conservative coalition.
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Court Reins In Presidential Tariff Power
- The Supreme Court struck down Trump's broad use of the International Emergency Economic Powers Act to impose tariffs.
- That decision narrows presidential tariff powers and shifts authority back toward Congress, creating legal and economic uncertainty.
Prepare For Temporary Section 122 Tariffs
- The administration switched to Section 122 of the Trade Act to impose temporary 15% tariffs for 150 days.
- Businesses should prepare for legal challenges and plan for changing tariff rules after the 150-day window ends.
Tariff Wall Can Be Reassembled Slowly
- The administration can rebuild tariffs using sector- or country-specific tools like sections 232 and 301.
- Those routes are slower and require investigations, but they restore much of the previous tariff architecture.