February 20: The U.S. Supreme Court ruled that President Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs are not legitimate, stating it “does not authorize the president to impose tariffs.” This decision upholds lower court’s rulings which found the tariffs imposed under IEEPA are unlawful and President Trump exceeded his authority. The impacted tariffs include 10% baseline tariffs, reciprocal tariffs and steeper tariffs on China, Mexico and Canada.

Global container rates ease while U.S. trucking markets tighten.

The regional price of U.S. aluminum more than doubles since the start of its tariff. And the Fed voted to keep rates steady, stabilizing the U.S. dollar.