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Macro EconomyMediumUpdated•Originally published 23 February 2026•Updated 23 February 2026•

1 min read

Trump Hikes Tariffs to 15% Following Court Ruling as U.S. Stocks Open Flat

Key Facts

1U.S. President Donald Trump announced an increase in global tariffs from 10% to 15%.

2Asia-Pacific markets are set to open higher, shrugging off concerns regarding trade policies.

U.S. President Donald Trump has announced an escalation in trade policy, raising global tariffs from 10% to 15%. This move follows a U.S. Supreme Court ruling that struck down Trump's previous “reciprocal” tariff framework, prompting a new approach. Major U.S. indices, including the S&P 500, Dow Jones, and Nasdaq, opened flat as investors weighed the potential impact on inflation and corporate earnings. Despite Trump’s statement that the duties take effect immediately, uncertainty persists regarding the actual timing due to a lack of formal documentation. Market participants are now focused on whether these measures will be officially codified soon, as global partners brace for the economic fallout. The resilience seen in Asia-Pacific markets earlier is now being tested by the cautious stance of Wall Street investors.

5 months ago

Version History

Version 15 months ago

What changed: Updated to include the legal catalyst (Supreme Court ruling), the flat opening of major U.S. indices, and the lack of formal documentation for immediate implementation.