{"id":58863,"date":"2026-02-20T14:38:29","date_gmt":"2026-02-20T18:38:29","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/trump-slams-lapdog-supreme-court-after-landmark-tariff-reversal-markets-rally\/58863\/"},"modified":"2026-02-20T14:38:29","modified_gmt":"2026-02-20T18:38:29","slug":"trump-slams-lapdog-supreme-court-after-landmark-tariff-reversal-markets-rally","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-slams-lapdog-supreme-court-after-landmark-tariff-reversal-markets-rally\/58863\/","title":{"rendered":"Trump Slams &#8220;Lapdog&#8221; Supreme Court After Landmark Tariff Reversal; Markets Rally"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The U.S. Supreme Court struck down President Trump\u2019s global tariffs in a 6-3 ruling<\/strong>, declaring that the executive branch lacks the constitutional authority to impose taxes unilaterally under the International Emergency Economic Powers Act (<strong>IEEPA<\/strong>).<\/li>\n<li><strong>President Trump labeled the justices &quot;fools and lapdogs&quot;<\/strong> following the decision, asserting he possesses &quot;stronger statutes&quot; than IEEPA to block foreign businesses and &quot;destroy the trade&quot; of rival nations.<\/li>\n<li><strong>Senate Majority Leader John Thune (R-S.D.) signaled GOP support<\/strong> for tariffs as a tool to level the playing field for rural America, despite the legal setback.<\/li>\n<li><strong>Hungary has officially blocked a \u20ac90 billion EU loan to Ukraine<\/strong>, conditioning the release of funds on the immediate resumption of oil flows through Ukrainian territory.<\/li>\n<li><strong>Participation in the Federal Reserve\u2019s Reverse Repo facility plummeted to $496 million<\/strong> from a previous $632 million, as only four counterparties took part in the latest operation.<\/li>\n<\/ul>\n<h2>Trump Defies Judiciary, Vows Trade Retaliation<\/h2>\n<p>President Donald Trump issued a scathing rebuke of the <strong>U.S. Supreme Court<\/strong> on Friday after the bench ruled 6-3 that his administration&#39;s sweeping global tariffs were illegal. The court\u2019s majority, led by Chief Justice John Roberts, argued that the <strong>taxing power<\/strong> is a &quot;very clear&quot; constitutional prerogative of Congress, not the President. Trump responded by calling the judges <strong>&quot;fools and lapdogs&quot;<\/strong> and a &quot;disgrace to the nation,&quot; claiming they were swayed by foreign interests.<\/p>\n<p>Despite the ruling, Trump maintained that he has the authority to tell foreign entities they <strong>&quot;can&#39;t do business in the U.S.&quot;<\/strong> and claimed he could still &quot;destroy the trade&quot; and &quot;embargo&quot; other countries. He insisted that there are <strong>&quot;methods, statutes, and authorities stronger than IEEPA&quot;<\/strong> that his administration will now pivot toward. Trump characterized the legal battle as a <strong>&quot;symbol of economic national security&quot;<\/strong> and argued that his tariff policies had previously been instrumental in ending wars and strengthening national defense.<\/p>\n<h2>Legislative Support and Economic Strategy<\/h2>\n<p>Senate Majority Leader <strong>John Thune ([R-S.D.])<\/strong> offered a defense of the administration&#39;s trade goals, stating that tariffs remain an <strong>&quot;effective tool to counter unfair trade.&quot;<\/strong> Thune emphasized that Senate Republicans would continue to work with the administration to protect <strong>South Dakota\u2019s farm and ranch communities<\/strong>. This legislative alignment suggests that even if the executive branch&#39;s unilateral power is curtailed, the GOP may seek to codify tariff authorities through formal legislation.<\/p>\n<p>Trump also touted the use of tariffs as a critical weapon in the fight against <strong>fentanyl trafficking<\/strong>, linking trade policy directly to the ongoing opioid crisis. He suggested that <strong>&quot;other alternatives&quot;<\/strong> to the struck-down tariffs would be implemented to ensure the U.S. continues to collect revenue and maintain its national security posture. Analysts noted that while the ruling caused a temporary jump in <strong>U.S. and European equity markets<\/strong>, the President&#39;s vow to use &quot;stronger&quot; authorities has kept trade uncertainty high.<\/p>\n<h2>Global Tensions and Monetary Shifts<\/h2>\n<p>In Europe, <strong>Hungary<\/strong> has escalated its standoff with the European Union by blocking a <strong>\u20ac90 billion loan<\/strong> intended for Ukraine. Hungarian officials stated the veto would remain in place until <strong>oil flows<\/strong> through Ukraine are resumed, highlighting the deepening energy and financial fractures within the bloc. This move threatens to derail the EU&#39;s long-term financial support strategy for Kyiv as the conflict persists.<\/p>\n<p>Domestically, the <strong>Federal Reserve<\/strong> reported a sharp decline in its overnight reverse repurchase (RRP) operation. Only <strong>four counterparties<\/strong> participated, taking <strong>$496 million<\/strong>, a significant drop from the previous session&#39;s <strong>$632 million<\/strong>. This continued drain of liquidity from the RRP facility reflects shifting dynamics in the money markets as the financial system adjusts to the broader economic and judicial shifts in Washington.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The U.S. Supreme Court struck down President Trump\u2019s global tariffs in a 6-3 ruling, declaring that the executive 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