Bob Elliott
· Nonconsensus
· February 20, 2026 at 11:27
· ⏱ 3 min read
| Read on Substack ↗
Summary
The author reflects on the upcoming Supreme Court ruling regarding Trump's tariffs, arguing that the economic impacts are largely in the past. The tariffs are framed as a modest tax increase on US households and businesses that ultimately failed to significantly alter the trade deficit.
•A Supreme Court ruling on Trump's tariffs is expected soon.
•The author contends that most of the economic effects from the tariff hikes have already been absorbed by the economy.
•The tariffs are described as having functioned as a modest tax hike on US households and businesses.
•Despite the "chaos" they caused, the tariffs did little to change the overall trade deficit.