What are Section 122 tariffs and why are they back?

Section 122 tariffs allow a temporary import surcharge up to 15% on broad categories. After a Supreme Court ruling voided parts of an earlier plan, the White House turned to this authority. It is fast to deploy but likely to face court tests and partner pushback.

How do Trump 15% tariffs affect Swiss exporters?

They can raise landed costs, delay orders, and increase documentation checks, especially for goods routed via the EU. Stronger CHF in risk-off periods can add pressure. Firms with high US revenue or complex EU-linked supply chains face higher pricing, margin, and compliance risks.

What does the EU tariff warning change for Switzerland?

If the EU hardens its stance, re-exports and rules-of-origin checks could tighten. That adds admin time and costs for Swiss companies embedded in EU supply chains. It also raises the chance of faster, coordinated responses that indirectly affect Swiss market access and timelines.

What are key S&P 500 levels and signals to monitor?

Watch 6,805 as near-term support, 6,913 as the midpoint pivot, and 7,019 as resistance. RSI and ADX are neutral, while MACD is negative. ATR near 80 signals wider intraday swings. Position sizes and hedges should reflect headline risk around Trump 15% tariffs.

Law and Government

^GSPC Today: EU Pushback as Trump Hikes Global Tariffs to 15% — February 23

ByDanny Kontos February 23, 2026February 23, 2026

Trump 15% tariffs are back in focus after a Supreme Court ruling voided parts of an earlier program. The White House now moves under Section 122 tariffs to apply a temporary global surcharge. For Swiss investors, the policy mix raises legal risk, trade friction, and equity volatility. Today, the S&P 500 (^GSPC) is near flat as participants assess EU responses and refund exposure. We break down what changed, why it matters for Switzerland, and how to position portfolios with clear, data-led steps.