Who Gains and Who Pays Under Trump's Temporary 15% Global TariffNational Emergency Basis AnnulledLegal Context: Supreme Court RulingWinners and Losers Under the 15% Global TariffFeb 23 (Reuters) - The U.S. Supreme Court annulment of President Donald Trump's "reciprocal" tariffs justified on national emergency grounds and Trump's subsequent move to impose a temporary 15% global tariff have thrown world trade into a new bout of confusion. Countries Facing Lower TariffsFor some countries - notably China and Brazil - the new 15% baseline is substantially lower than the U.S. tariffs they had been dealing with. Deal Validity QuestionsEU and UK PositionsBoth the EU and Britain have signalled a desire to retain those deals. However, some commentators argue the U.S. Supreme Court ruling, by annulling the legal basis for the reciprocal tariffs that they sought to avoid, also raises questions over whether the deals themselves will stay in place. Chart: Comparative Tariff EffectsBelow is a chart setting out potential winners and losers from the new 15% global tariff, comparing it to the level trading partners were dealing with before the court ruling.

Source: Forbes February 23, 2026 17:41 UTC