The fallout of Trump’s tariff setback at the Supreme Court

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• 00:03

  Good morning from The Financial Times.

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  Today is Monday, February 23rd, and this is your FT News Briefing.

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  The US Supreme Court has forced President Donald Trump to rethink his tariff regime,

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  we'll look at how it's going down with global trade partners and American voters.

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  Plus, the State of the Union is tomorrow, but today, J.P.

• 00:24

  Morgan's boss is giving a little State of the Bank update to investors.

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  What can we expect?

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  He likes to use this kind of stage to talk about everything and anything under the sun.

• 00:35

  It's kind of Jamie Diamond unplugged a little bit.

• 00:37

  I'm Victoria Craig, and here's the news you need to start your day.

• 00:49

  The Supreme Court's landmark decision to strike down President Donald Trump's use of emergency powers to impose tariffs has left more questions than answers,

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  not just for America's trading partners, but U.S.

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  businesses too.

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  The Trump administration this weekend replaced levies enacted under the International Emergency Economic Powers Act,

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  or IEPA, with a blanket 15% global rate.

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  That is due to go into effect tomorrow.

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  So what do the changes mean for trade deals that have been negotiated with the United States over the past year?

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  For the answer, let's bring in Peter Foster.

• 01:24

  He is the FT's World Trade Editor.

• 01:27

  Hi, Peter.

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