Countries hardest-hit by US tariffs now winnersFORTUNES REVERSED: The new 15 percent levies left countries with a 10 percent tariff worse off and stripped away the advantage of those with a 15 percent rateBloombergIn a swift reversal of fortunes, countries that had been hardest hit by US President Donald Trump’s tariffs have emerged as the biggest winners from the US Supreme Court’s decision to strike down his emergency levies. Still, “the peak level of uncertainty on tariffs and trade tensions has passed,” Morgan Stanley economists led by Chetan Ahya wrote in a note. The new 15 percent levy leaves countries with the earlier 10 percent rate worse off, with Australia and the UK in that position. “Imports from countries that will experience meaningful tariff reductions from the latest policy changes are likely to pick up in coming months,” Goldman economists wrote. “But the impact on GDP should be largely offset by increased inventory accumulation and consumption, reduced imports from other countries through which trade had been rerouted, and small reductions in imports from countries whose tariff rate has risen.”

Source: Taipei Times February 23, 2026 16:05 UTC