The Supreme Court Rules Against President Trump's Tariffs

Summary

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Fox News Hourly Update

Episode: The Supreme Court Rules Against President Trump's Tariffs
Date: February 20, 2026
Host: Dave Anthony (FOX News Podcasts)
Theme: Supreme Court ruling against former President Trump’s use of tariffs, economic and political reactions, and major national updates

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Episode Overview

This episode focuses on the U.S. Supreme Court’s landmark decision to overturn President Trump’s imposition of tariffs under the International Emergency Economic Powers Act (IEEPA). The hosts break down the legal reasoning, the political and economic reactions, and its broader implications, while also touching on current economic data, U.S.-Iran relations, and disaster relief efforts.

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Key Discussion Points & Insights

1. Supreme Court Strikes Down Trump Tariffs

• Context & Ruling

  • The Supreme Court, in a 6-3 decision, ruled that President Trump exceeded his authority by imposing tariffs under IEEPA.
  • Chief Justice John Roberts, writing for the majority, asserted that the Constitution gives Congress, not the executive branch, the power to levy taxes and duties ([00:12]).
  • The decision highlighted the lack of historical precedent; no previous president had used the IEEPA for tariffs.

• Majority & Dissent

  • Majority opinion emphasized separation of powers.
  • Justices Thomas, Alito, and Kavanaugh dissented; Kavanaugh notably warned tariff refunds would “likely be a mess” ([02:40]).

• Notable Quote

  • Jessica Rosenthal:

    "The Constitution specifies that Congress has the power to collect taxes, duties, and excises... the executive branch has no taxing power, pointing to a lack of historical precedent as well." ([00:12])

2. Political & Economic Reactions

• Domestic Political Response

  • No immediate reaction from President Trump, though he had previously supported tariffs at a Georgia rally.
  • Senate Minority Leader Chuck Schumer celebrated the ruling as “a victory for the wallets of every consumer.”
  • Senator Elizabeth Warren expressed ongoing concern that the ruling could allow corporations to “sue for tariff refunds and then just pocket the money for themselves.” ([00:41])

• International Response

  • Ontario Premier Doug Ford welcomed the decision as a step in the right direction for Canada.

• Notable Quote

  • Elizabeth Warren (paraphrased by Jessica Rosenthal):

    "[Warren] writes no Supreme Court decision can undo the massive damage Trump tariffs have done for small businesses and American families." ([00:41])

3. Impact on the Economy

• GDP Growth

  • U.S. GDP grew by just 1.4% in Q4 2025, compared to 4.4% the previous quarter. A 43-day government shutdown is cited as a major factor ([01:28]).
  • President Trump, via Truth Social, blamed Democrats, claiming the shutdown "cost 2 percentage points of GDP growth" ([01:40]).

• Inflation

  • Reports indicate a rise in both month-over-month and annual inflation rates ([01:40]).

• Market Reaction

  • Markets initially dropped after the ruling, but the Dow and Nasdaq subsequently rallied with gains of 124 and 256 points, respectively ([02:40]).

• Notable Quote

  • Lauren Simonetti:

    "The economy grew at an annualized rate of just 1.4% at the end of last year, down sharply from the 4.4% growth in the prior quarter... the government shut down for 43 days." ([01:28])

4. Other Major National Updates

• U.S.-Iran Tensions

  • President Trump reportedly considering military action against Iran if Iranian leaders do not agree to a nuclear deal within 10-15 days ([02:40]).
  • U.S. officials insist on zero nuclear enrichment, but Iranian officials dispute the demands in ongoing negotiations ([03:21]).

• Disaster Recovery in Ohio

  • President Trump pledges $10 million in federal aid to East Palestine, Ohio, for recovery efforts after the 2023 train derailment and chemical spill—a continued focus post-Biden administration ([03:53]).

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Notable Quotes & Memorable Moments

• On the Court’s Reasoning

  • Jessica Rosenthal ([00:12]):

    "Chief Justice John Roberts wrote for the majority, the Constitution specifies that Congress has the power to collect taxes, duties and excises, that this power lies only with Congress and that the executive branch has no taxing power..."

• On the Aftermath

  • Dave Anthony ([02:40]):

    "We're still awaiting President Trump's reaction to the Supreme Court ruling against him on tariffs... striking down President Trump invoking what's called the IEEPA..."

• On Economic Impact

  • Lauren Simonetti ([01:28]):

    "The economy grew at an annualized rate of just 1.4%... the government shut down for 43 days."

• On Foreign Affairs

  • Jackie Heinrich ([03:21]):

    "For days, U.S. officials have said Iran is ignoring U.S. red lines on zero nuclear enrichment… President Trump has said in no uncertain terms, though, that he will accept nothing less."

• On Disaster Relief

  • Jeff Manasso ([03:53]):

    "President Trump on Truth Social saying he's committing $10 million to the community of East Palestine, Ohio, to further its recovery from the 2023 train derailment..."

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Timestamps for Key Segments

• Supreme Court Ruling Overview: 00:02–00:41
• Political & International Reactions: 00:41–01:28
• Economic Data & Reactions: 01:28–02:00; 02:40
• Market Update: 02:40
• Trump–Iran Nuclear Standoff: 03:21–03:47
• Ohio Disaster Aid: 03:53–04:25
• Olympic Hockey Brief: 04:25–04:37

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Summary

This episode delivers a concise yet comprehensive analysis of a major Supreme Court ruling rebuking Trump’s use of emergency powers for trade tariffs, with detailed attention to legal interpretations, partisan responses, and economic effects. It also covers fresh updates on U.S. foreign policy regarding Iran, and federal aid for disaster recovery, capturing key turning points in American law and politics for February 2026.

Transcript

[Dave Anthony]

This is a FOX News alert. The Supreme Court rules against President Trump on tariffs. I'm Dave Anthony. It's a case he had called one of the biggest ever.

[Jessica Rosenthal]

In a 6 to 3 decision, the Supreme Court struck down the president's implementation of tariffs under the International Emergency Economic Powers Act. Chief Justice John Roberts wrote for the majority, the Constitution specifies that Congress has the power to collect taxes, duties and excises, that this power lies only with Congress and that the executive branch has no taxing power, pointing to a lack of historical precedent as well. Noting that no president has invoked the statute to impose tariffs, Justices Thomas Alito and KAVANAUGH DISSENTED.

[Dave Anthony]

That's FOX's Jessica Rosenthal. No reaction yet from President Trump, but just yesterday at a rally in Georgia, he touted his tariffs making our economy stronger. Without tariffs, what would you do? You know what? Everybody would be bankrupt and everybody, the whole country would be bankrupt. Some of those tariffs have hit Canada. Ontario's Premier Doug Ford tells Fox this ruling is a step in the right direction. Also, reaction from Democrats. Senate Minority Leader Chuck Schumer posted on exits, a victory for the wallets of every consumer. Senator Elizabeth Warren in a statement, writes, no Supreme Court decision can undo the massive damage Trump tariffs have done for small businesses and American families. She's concerned giant corporations can sue for tariff refunds and then just pocket the money for themselves. President Trump doesn't like that. The economy has slowed down. Here's Fox Business Network's Lauren Simonetti.

[Jessica Rosenthal]

The economy grew at an annualized rate of just 1.4% at the end of last year, down sharply from the 4.4% growth in the prior quarter. What happened? Well, the government shut down for 43 days.

[Dave Anthony]

Growth in the third quarter was three times that, 4.4%. And before the update, the president blamed Democrats for the shutdown. Posting on Truth social it cost 2 percentage points of GDP growth. Another report this morning shows an uptick in inflation in December, March, month over month and also in the annual rate. America's listening to FOX News.

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[Dave Anthony]

Again, our top FOX NEWS story. We're still awaiting President Trump's reaction to the Supreme Court ruling against him on tariffs, siding with a legal challenge to the Trump authority to impose them on imports from around the world. Striking down President Trump invoking what's called the iepa, the International Emergency Economic Powers act, as justification for the tariffs. It was a 6, 3 decision. Dissenting Justice Brett Kavanaugh writes the tariff refunds will likely be a mess. On Wall street, stocks dropped initially. Now the dow is up 124 points, the NASDAQ gaining 256. President Trump again said this morning he is considering taking military action against Iran after giving them 10 to 15 days to agree to a nuclear deal.

[Jackie Heinrich]

For days, U.S. officials have said Iran is ignoring U.S. red lines on zero nuclear enrichment, instead floating proposals that would allow them to continue it for civilian purposes or maybe suspend it only for the duration of President Trump's term. And now the Iranian foreign minister is claiming that the US hasn't asked for zero enrichment at all. President Trump has said in no uncertain terms, though, that he will accept nothing less.

[Dave Anthony]

Fox's Jackie Heinrich the White House. A community in Ohio is getting more federal help cleaning up from a disaster.

[Jeff Manasso]

President Trump on Truth Social saying he's committing $10 million to the community of East Palestine, Ohio, to further its Recovery from the 2023 train derailment, explosion and chemical spill of toxins, including vinyl chloride, into the air and water. A disaster for the community and for the Biden administration that was criticized for its handling of the crisis and recovery. President Trump also saying in part that he wants to see East Palestine grow and flourish, that we are with you for the long haul. Jeff Manasso, FOX News at the Winter

[Dave Anthony]

Olympics, the men's hockey semifinals underway, Canada versus Finland. The US Plays Slovakia after that team stocked with NHL players. Today's winners will play in the gold medal game. I'm Dave Anthony and this is Fox.

[Jessica Rosenthal]

This is Ainsley Earhart. Thank you for joining me for the 52 episode podcast series the Life of

[Dave Anthony]

Jesus, a listening experience that will provide hope, comfort and understanding of the greatest story ever told. Listen and follow [e-mail] or wherever you listen to podcasts.