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U.S. Halts Tariffs After Supreme Court Declares Them Illegal

The United States will officially stop collecting a series of tariffs that the Supreme Court recently ruled unlawful under the International Emergency Economic Powers Act (IEEPA). Beginning at 12:01 a.m. EST on Tuesday, February 24 , U.S. Customs and Border Protection (CBP) will deactivate all tariff codes tied to former President Donald Trump’s IEEPA-based orders.  The decision follows a 6–3 Supreme Court ruling that found the administration lacked authority to impose broad, emergency‑based tariffs under IEEPA, noting that the law contains no reference to duties.  CBP’s move raises significant questions about potential refunds for importers who paid the now‑invalidated tariffs. While these IEEPA‑related duties will end immediately, other Trump‑era tariffs imposed under different legal authorities remain in place. If you’d like, I can expand this into a longer article, add quotes, or tailor it for a specific audience.
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ECB Maintains Record High Interest Rate Amid Debate Over Timing of Cuts

 

The European Central Bank (ECB) has decided to keep its key interest rate at a record high of 4% . The decision comes amid a growing debate over the timing of cuts, with some economists predicting a policy pivot starting in April and rate cuts of 150 basis points this year .

The ECB’s decision to maintain the interest rate at its current level is aimed at battling inflation, which has been ravaging the economy. The head of the ECB has warned that cutting interest rates too soon could threaten Europe’s progress in battling inflation.


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