Friday, February 20, 2026

President Trump imposes new 10% global U.S. import tariff

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President Trump imposes new 10% global U.S. import tariff

MacDailyNews

Feb 20

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President Donald Trump holds a signed executive order on tariffs, in the Rose Garden at the White House in Washington, D.C., April 2, 2025. Photo by Leah Millis/Reuters

Following the U.S. Supreme Court’s decision to invalidate President Donald Trump’s broad import tariffs imposed under the International Emergency Economic Powers Act (IEEPA), the president vowed to pursue alternative measures to maintain the import duties he views as critical to his economic and foreign policy goals.

On Friday, Trump announced plans to introduce a flat 10% tariff on imports from foreign countries in the near term. He also stated that he would launch multiple trade investigations, which could pave the way for implementing much more enduring tariffs.

Kate Sullivan for Bloomberg News:
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The president has credited his tariff regime for driving substantial investments in the U.S. and preventing foreign conflicts.
“The Supreme Court did not overrule tariffs, they merely overruled a particular use of IEEPA tariffs,” Trump told reporters, referencing the emergency authorities that the high court found illegal. “Now I’m going to go in a different direction, probably the direction that I should have gone the first time.”
Trump said he would pursue the baseline duty under Section 122 of the Trade Act of 1974, which grants the president unilateral ability to impose tariffs. But the untested legal provision puts a 150-day limit on how long the duties can remain in place. Trump said he expected the new baseline rate to go into effect “three days from now.”
A White House official later said that the 10% rate would apply to all countries with trade agreements while new tariff authorities are worked out.
Bond yields pared an earlier advance and stocks extended gains after Trump announced the plan for a 10% duty…
Trump also said existing tariffs under Section 301 and Section 232 would remain in place and vowed to launch additional investigations. The president has previously used those measures to levy Chinese exports, automobiles and metals. He suggested that those investigations could be carried out while the 10% baseline was in place, and eventually replace the flate rate — though he declined to rule out whether he might also seek an extension of the Section 122 levies. Trump said he was eyeing tariffs on foreign cars ranging from 15% to 30%.
The president’s plan to impose a 10% global duty could lift the average US effective tariff rate to 16.5% from 13.6%, or lower it to 11.4% if current exemptions are maintained, Bloomberg Economics estimated…
“Foreign countries that have been ripping us off for years are ecstatic. They’re so happy, and they’re dancing in the streets — but they won’t be dancing for long,” Trump said.

Daniel Flatley for Bloomberg News:
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Treasury Secretary Scott Bessent said that revenue collected from tariffs will be “virtually unchanged” in 2026, despite Friday’s Supreme Court ruling, as President Donald Trump uses alternate authorities to impose duties.
“This administration will invoke alternative legal authorities to replace the IEEPA tariffs,” Bessent said…
Bessent said that the Trump administration will use other mechanisms to replace the measures, including authorities granted by Congress known as Section 122, 232 and 301 authorities.
“Treasury’s estimates show that the use of Section 122 authority, combined with potentially enhanced Section 232 and Section 301 tariffs will result in virtually unchanged tariff revenue in 2026,” he said in prepared remarks to the Economic Club of Dallas.
Answering questions after the speech, he underscored, that “no one should expect that the tariff revenue will go down.”

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MacDailyNews Take: Basically, just as we reported this morning when the SCOTUS ruling was posted: SCOTUS strikes down IEEPA tariffs; President Trump expected to pivot to proven trade laws like 232 and 301.

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BlackRock, Morgan Stanley, Vanguard, and Soros Fund Management up Apple stakes

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BlackRock, Morgan Stanley, Vanguard, and Soros Fund Management up Apple stakes

MacDailyNews

Feb 20

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According to recent regulatory filings, during the fourth quarter several large asset managers added Apple shares. BlackRock increased its stake in Apple by 8.3 million shares, bringing its total holdings to 1.15 billion shares — valued at approximately $313.9 billion. Apple now accounts for about 5.31% of BlackRock’s overall portfolio.

GuruFocus:
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Morgan Stanley also increased exposure, holding more than 230 million shares worth $62.7 billion. Apple remains its largest position at 3.74% portfolio weight.
Vanguard Group expanded its holdings to 1.43 billion shares valued at $387.75 billion. Apple ranks second among its top positions at 5.62%. Goldman Sachs lifted its stake by 3% to over 99 million shares worth $26.9 billion, making it the firm’s second-largest holding at 3.3%.
Soros Fund Management added 16% to its Apple position, bringing holdings to about 416,000 shares valued near $108 million.

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MacDailyNews Take: Smart moves. As we wrote last month, “Apple and, indeed, the entire U.S. economy, are primed to roar in 2026!”

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Apple TV sets March 4th premiere for French thriller ‘The Hunt’ (Traqués) following plagiarism probe and three-mon…

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Apple TV sets March 4th premiere for French thriller ‘The Hunt’ (Traqués) following plagiarism probe and three-month delay

MacDailyNews

Feb 20

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“The Hunt” (“Traqués”) will premiere globally on March 4th on Apple TV.

Apple TV has announced a new release date for the French-language drama series “The Hunt” (“Traqués”), which will now debut globally on March 4th. The six-episode thriller, produced by Gaumont, was originally scheduled to premiere on December 3, 2025, but was abruptly pulled from the schedule just weeks before launch amid allegations of plagiarism. That’s all been taken care of now.

The delay stemmed from claims that the series — initially presented as an original work by creator, writer, and director Cédric Anger — closely mirrored the plot of Douglas Fairbairn’s 1973 novel Shoot, which had previously been adapted into a 1976 feature film of the same name. French media reports first highlighted the similarities, prompting Gaumont to launch an internal investigation into the intellectual property concerns.

Following the review, the project has moved forward with updated credits acknowledging its basis in the existing novel. “The Hunt” is now described as “a series by Anger based on the novel Shoot by Douglas Fairbairn, which was first adapted into a feature film of the same name, directed by Harvey Hart from a screenplay by Richard Berg.”

“The Hunt” follows a group of hunters who suddenly become the hunted, delivering high-stakes suspense in a remote forest setting:

Franck (Benoît Magimel) and his longtime friends enjoy spending their weekends hunting together, but one Sunday, they come across another group of hunters who start targeting them without explanation. When one of their party is shot, Franck’s friends strike back, sending an attacker to the ground. Barely managing to escape, the four friends keep the event a secret. Franck tries to go back to his life as usual alongside his wife Krystel (Mélanie Laurent), but in the next few days, he starts to feel like he and his friends are being watched, or worse, tracked by hunters who are now hell-bent on revenge. – Apple TV

The resolution allows Apple TV to add the series to its March lineup, joining other international originals on the platform. No further details on episode rollout (e.g., whether it will drop all at once or weekly) have been specified yet.

MacDailyNews Take: Locked and loaded!

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Fortnite Battle Royale

Friday, February 20, 2026