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22 Feb 2026

22 Feb 2026

Tariff Whiplash

• US tariffs. US Supreme Court rules against Pres. Trump. US tariffs being rejigged. USD softer. AUD & NZD a little firmer. AUD still near multi-year peak.• Macro trends. Over medium-term reworking tariff policies may be US growth & USD supportive. This week AU inflation data due. RBA Gov. Bullock speaks. Global Trends US tariff developments were in focus on Friday and the weekend. The US Supreme Court struck down tariffs imposed by President Trump under the International Emergency Economic Powers Act (IEEPA). The 6-3 decision was somewhat anticipated given President Trump’s move to bypass Congress (which has control over...

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