Trump's tariff fate will be revealed next week? The US Supreme Court has set February 20 as the day for the ruling announcement.

The United States Supreme Court has set February 20 as the latest date for announcing its rulings, and the market is closely watching whether the court will make a ruling on a case that could overturn President Trump's key tariff policy. This ruling has not only sparked high attention domestically in the United States, but also stirred the nerves of global trade and financial markets. The Supreme Court also plans to announce more rulings on February 24 and 25, following a four-week recess. The tariff-related case is one of the 12 cases that were completed for trial in October and November last year but have not been ruled on yet. The controversial tariffs have imposed heavy burdens on U.S. importers. According to federal government data, these tariffs are costing businesses over $16 billion in additional costs every month. Economic research analyst Chris Kennedy estimates that if the current pace of collection is maintained, the total amount of tariffs collected under the International Emergency Economic Powers Act (IEEPA) could exceed $170 billion by February 20. If the Supreme Court rules against Trump, it will be one of the biggest legal setbacks he has faced since returning to the White House. The court is considering Trump's so-called "Liberation Day tariffs" introduced on April 2, which levies tariffs of 10% to 50% on most imported goods and imposes additional tariffs on goods from Canada, Mexico, and China under the pretext of combating fentanyl smuggling. It is worth noting that, while judicial review is progressing, there are signs of a backlash against the tariff policy at the congressional level. The Republican-led House of Representatives passed legislation on Wednesday to end some tariffs on Canadian imported goods, aiming to repeal the "national emergency" declaration that provided legal basis for these tariffs. Trump declared a "national emergency" in a 2025 executive order, stating that the influx of fentanyl through the northern border constitutes a national emergency, paving the way for tariffs to be imposed. The White House had previously stated that if these tariffs were overturned by the court, they would quickly utilize other legal tools as substitutes, but Trump himself also admitted that the alternative plan would be more complicated to implement. The Supreme Court held an accelerated hearing on the case on November 5 last year, and the pace of the hearing at the time led some legal professionals to expect a ruling in a matter of weeks, rather than the usual months. During the trial, several key justices hinted that they believed Trump may have exceeded his statutory authority in imposing tariffs using emergency powers.