TARIFFS: Trump Aides Mulling Section 122 and 301 Tariffs Following SCOTUS Ruling

* The New York Times reports that Trump aides are mulling Section 122 and 301 tariffs as President Trump considers across-the-board tariffs on partners following the Supreme Court's decision earlier today to block IEEPA tariffs. * Link to the full report: https://www.nytimes.com/2026/02/20/us/politics/trump-tariffs-plans.html * That shouldn't be surprising considering well-touted back-up plans in the event of this outcome. * Further, recall Kavanaugh's dissent earlier today: "With respect to tariffs in particular, the Court's decision might not prevent Presidents from imposing most if not all of these same sorts of tariffs under other statutory authorities." Kavanaugh cites Section 122, 201, and 301 of the Trade Act of 1974; Section 338 of the Tariff Act of 1930, and Section 232 of the Trade Expansion Act of 1962. We note that the Trump White House has already said that it would use such other means to re-impose tariffs if IEEPA were struck down, so this ruling doesn't mean the end of tariffs. * The report lands ahead of an imminent press briefing from President Trump himself, currently twenty minutes past the proposed 1245ET.

TARIFFS: Trump Presser On SCOTUS Tariff Ruling Underway Shortly

US President Donald Trump is shortly due to hold a press conference on today's Supreme Court ruling that struck down his 'reciprocal' tariffs. A livestream will be available on CSPAN: https://www.c-span.org/. Treasury Secretary Scott Bessent is scheduled to deliver unrelated remarks at 15:00 ET 20:00 GMT. That presser is also likely to focus on tariffs. * According to CNN, Trump called the ruling "a disgrace" while hosting the White House breakfast with governors this morning, according to two people familiar with his comments. He told those gathered that he has a 'backup plan'. * House Speaker Mike Johnson (R-LA) said in a statement on X, "No one can deny that the President's use of tariffs has brought in billions of dollars and created immense leverage for America's trade strategy and for securing strong, reciprocal America-first trade agreements with countries that had been taking advantage of American workers for decades. Congress and the Administration will determine the best path forward in the coming weeks." * Senator Bernie Moreno (R-OH) said in an earlier statement, "This betrayal must be reversed and Republicans must get to work immediately on a reconciliation bill to codify the tariffs that had made our country the hottest country on earth!" * As noted on bullets earlier, there is highly unlikely to be sufficient Republican support in either the House or the Senate to codify Trump's tariffs. SEE: TARIFFS: Industry Bodies Warn Increased Uncertainty After SCOTUS Tariff Ruling: https://www.mnimarkets.com/articles/industry-bodies-warn-increased-uncertaint y-after-scotus-tariff-ruling-1771603436693

LATAM: MNI LatAm Week Ahead - Mex/Brazil Mid-Month CPI, Banxico QIR

Click here to see next week's key LatAm data releases and events, along with our latest macro insights: https://mni.marketnews.com/3ZMC3AM * Primary attention across LatAm next week will be on mid-month inflation data from both Mexico and Brazil, critical inputs into the upcoming central bank policy decisions in March. * Elsewhere, December economic activity data in both Mexico and Argentina are scheduled, as well as Peru fourth-quarter GDP. * Separately, the regional responses to the latest SCOTUS tariff ruling will be eagerly awaited amid industry bodies warning of increased uncertainty ahead.

TARIFFS: Trump To Hold Press Briefing On Supreme Court Tariff Decision 12:45ET

Press Sec Leavitt announces via X.com that "Pesident Trump will hold a press briefing on the Supreme Court's tariff decision at 12:45PM ET". * Any description of the administration's new tariff strategy after IEEPA was struck down this morning will be the focus.