Market Review and Trends
Tariffs Revisited: Policy Uncertainty Returns as Fed Risks Build (22 Feb 2026)
By Ernest Lim's investing blog  •  February 22, 2026
Dear all Happy Chinese New Year! Gong Xi Fa Cai! I am doing my usual work preparation over the weekend so as to provide timely updates to my clients. As I have a little bit of time, I decide to post on my blog too. Recent developments surrounding the U.S. Supreme Court ruling on tariffs introduce another layer of uncertainty into the market, even though the initial equity reaction was positive. 1️⃣ Supreme Court Ruling & Tariff Implications The U.S. Supreme Court has struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA). However, several important considerations remain:
  • President Donald Trump is unlikely to retreat from tariffs as a policy tool. Historically, tariffs have been central to his negotiation strategy and economic stance.
  • Not all tariffs are affected:
    • Section 232 of the Trade Expansion Act (1962) — National security-related tariffs remain.
    • Section 301 of the Trade Act (1974) — Tariffs related to unfair trade practices remain.
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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
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