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(VIDEO) Supreme Court Strikes Down Trump’s Sweeping Tariffs in 6-3 Ruling

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Sarah Ferguson

The U.S. Supreme Court on Friday struck down President Donald Trump’s expansive tariffs imposed on imports from nearly every trading partner, ruling that he exceeded his authority under a 1977 law meant for national emergencies.

US President Donald Trump delivers a speech during the Gaza Peace Summit in Sharm El-Sheikh, Egypt
US President Donald Trump delivers a speech
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In a 6-3 decision, the justices held that the International Emergency Economic Powers Act (IEEPA) does not authorize the president to unilaterally impose tariffs. Chief Justice John Roberts wrote the majority opinion, joined by Justices Sonia Sotomayor, Elena Kagan, Neil Gorsuch, Amy Coney Barrett and Ketanji Brown Jackson. Justices Clarence Thomas, Samuel Alito and Brett Kavanaugh dissented.

The ruling invalidates a core pillar of Trump’s economic policy, including the widely publicized “Liberation Day” tariffs — a 10% across-the-board duty on imports from most countries, with higher rates on key partners like Canada (up to 35%), Mexico (25%), China, the European Union, Japan and South Korea. These measures, enacted via executive orders citing foreign economic threats as a national emergency, have generated more than $130 billion to $200 billion in revenue since implementation, according to estimates from the Tax Foundation and other analyses.

Roberts emphasized the limits of executive power in his opinion. “Based on two words separated by 16 others in … IEEPA—’regulate’ and ‘importation’—the President asserts the independent power to impose tariffs on imports from any country, of any product, at any rate, for any amount of time,” he wrote. The court agreed with challengers, including businesses and states like California, that such broad authority requires explicit congressional approval, not emergency declarations.

The decision affirms lower court rulings and sends related cases back to the U.S. Court of International Trade to address remedies, including potential refunds to importers who paid the duties. Those costs were largely passed on to consumers and businesses through higher prices, with studies estimating an average household impact of around $1,751 last year in states like California.

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The ruling marks a rare instance where the conservative-led court has curbed Trump’s use of executive authority, echoing prior decisions limiting broad presidential actions. It does not affect all tariffs — those imposed under other statutes, such as Section 232 national security tariffs or Section 301 unfair trade practices, remain intact — but it wipes out the sweeping IEEPA-based ones central to Trump’s “America First” trade strategy.

The White House reacted swiftly. President Trump reportedly called the decision a “disgrace” in private, according to sources cited by multiple outlets. Aides indicated plans to invoke alternative trade authorities to reimpose similar measures quickly, potentially through existing laws allowing targeted tariffs. Trump is scheduled to hold a news conference Friday afternoon to address the ruling directly.

Market reaction was positive in the immediate aftermath, with U.S. stocks rising as investors welcomed reduced uncertainty over broad trade disruptions. Economists noted that removing the tariffs could shield the economy from further inflationary pressures and protect taxpayers, though uncertainty lingers over potential replacements. The Committee for a Responsible Federal Budget estimated that, absent new actions, the ruling could increase projected deficits by about $2 trillion over the next decade by eliminating tariff revenue.

The tariffs stemmed from Trump’s long-standing view that unfair trade practices by foreign nations justified aggressive countermeasures. Supporters argued they protected domestic industries, boosted manufacturing and forced better trade deals. Critics, including affected businesses, importers and some allies, contended they functioned as a tax on Americans, raised costs for goods and strained international relations.

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States like California, which filed lawsuits challenging the tariffs, hailed the decision. Gov. Gavin Newsom called for immediate refund checks — with interest — to families and businesses, arguing the duties illegally raised costs passed on to consumers. Ports in Los Angeles and other hubs had seen shifts in import patterns due to the duties.

The case consolidated challenges, including Learning Resources Inc. v. Trump and V.O.S. Selections v. United States, highlighting how the tariffs affected everyday products from toys to wine. Importers argued the emergency declaration stretched IEEPA beyond its intent, originally designed for sanctions against hostile foreign actors rather than broad trade policy.
Dissenters, led by conservative justices, warned of practical fallout. Kavanaugh suggested the ruling might create a “mess” requiring billions in refunds while not permanently limiting future presidential tariff authority under other laws.

The decision arrives amid ongoing global trade tensions and domestic economic debates. It underscores congressional primacy in taxation and commerce, as Article I of the Constitution grants Congress the power to lay and collect duties.
For now, the ruling halts the most sweeping elements of Trump’s tariff regime, forcing the administration to pivot. Whether new measures emerge — and how trading partners respond — will shape U.S. trade policy in the coming months.

As the administration weighs next steps, businesses and consumers await clarity on import costs and supply chains. The court’s message was clear: emergency powers have limits, even for a president pursuing signature priorities.

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Samsung Rises on Report of Higher AI Memory Prices. Why Micron Stock Is Falling.

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Samsung Claims to Be First to Ship New Memory Chips. What It Means for Micron.

Samsung Rises on Report of Higher AI Memory Prices. Why Micron Stock Is Falling.

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EuroDry Ltd. (EDRY) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-02-19 Earnings Summary

EPS of $0.88 beats by $0.13

 | Revenue of $18.49M (20.12% Y/Y) beats by $723.19K

EuroDry Ltd. (EDRY) Q4 2025 Earnings Call February 20, 2026 8:00 AM EST

Company Participants

Aristides Pittas – Chairman, President & CEO
Anastasios Aslidis – CFO, Treasurer & Director

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Conference Call Participants

Tate Sullivan – Maxim Group LLC, Research Division
Hans Baldau – NOBLE Capital Markets, Inc., Research Division
Charles Fratt – Alliance Global Partners, Research Division

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Presentation

Operator

Thank you for standing by, ladies and gentlemen, and welcome to EuroDry Limited Conference Call for the Fourth Quarter 2025 Financial Results. We have with us today Mr. Aristides Pittas, Chairman and Chief Executive Officer; and Mr. Anastasios Aslidis, Chief Financial Officer of the company. [Operator Instructions] I must advise you that this conference is being recorded today. Please be reminded that the company announced its results with a press release that has been publicly distributed.

Before passing the floor to Mr. Pittas, I would like to remind everybody that in today’s presentation and conference call, EuroDry will be making forward-looking statements. These statements are within the meaning of the federal securities laws. Matters discussed may be forward-looking statements, which are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. I kindly draw your attention to Slide #2 on the webcast presentation, which has the full forward-looking statement, and the same statement was also included in the press release. Please take a moment to go through the whole statement and read it. I would now like to turn the floor over to Mr. Pittas. Please go ahead, sir.

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Aristides Pittas
Chairman, President & CEO

Good morning, ladies and gentlemen, and thank you all for joining us today for our scheduled conference call. Together with me is Tasos Aslidis, our Chief Financial Officer. The purpose of today’s call is to discuss our financial results for the 3- and 12-month

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Form 13F Verus Advisory For: 20 February

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Form 13F Verus Advisory For: 20 February

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Ford Ranger Leads Australia’s Top 10 Most Popular Cars in Early 2026 as Utes and SUVs Dominate Sales

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Ford Ranger

The Ford Ranger has reclaimed its position as Australia’s best-selling vehicle in the opening month of 2026, underscoring the enduring popularity of utes and SUVs amid a market showing modest growth and shifting preferences toward electrified options and Chinese brands.

According to VFACTS data released by the Federal Chamber of Automotive Industries, new vehicle sales totaled 87,753 in January 2026, a slight 0.1% increase from the previous year despite comparisons complicated by 2025 port strikes and biosecurity delays. SUVs commanded 61.2% of the market, light commercials held 20.5%, passenger cars 15.5% and heavy commercials the remainder.

The top 10 models for January 2026 reflect a blend of traditional favorites and rising challengers:

Ford Ranger
Ford Ranger
  1. Ford Ranger — 3,403 units (down 20% year-on-year) Australia’s perennial ute king reclaimed the crown despite a dip, buoyed by its rugged capability, towing prowess and widespread appeal for work and leisure. The Ranger accounted for over half of Ford’s January sales, highlighting its dominance in the light commercial segment.
  2. Toyota HiLux — 2,800 units (down 15.2%) The iconic HiLux trailed closely, impacted by the gradual rollout of its new generation. It remains a staple for tradies and rural buyers, though competition from the Ranger and emerging Chinese utes pressures its long-held status.
  3. Mazda CX-5 — 2,289 units (up 22.3%) A surprise podium finisher and the top SUV, the CX-5 delivered its strongest January performance in years. The outgoing model benefits from strong demand ahead of its refresh later in 2026, appealing with refined handling, premium interior and fuel efficiency.
  4. Chery Tiggo 4 — 2,234 units (up 119.4%) Chinese brands surged, with Chery’s compact SUV hitting an all-time high ranking. Aggressive pricing, generous features and growing dealer networks propelled the Tiggo 4 into the top five, signaling accelerating acceptance of Chinese vehicles.
  5. Mitsubishi Outlander — 1,975 units (down 5.5%) The PHEV-equipped Outlander maintained solid momentum in the electrified space, benefiting from Australia’s rising interest in plug-in hybrids, which soared 170.5% to 5,161 units market-wide.
  6. Ford Everest — 1,913 units (up 13.9%) The body-on-frame SUV outsold rivals like the Toyota Prado, offering family-friendly seating, off-road ability and diesel efficiency that resonate with Australian buyers.
  7. Hyundai Kona — 1,839 units (up 41.4%) The compact crossover climbed sharply, fueled by its stylish design, tech features and hybrid/EV variants appealing to urban drivers.
  8. Isuzu D-Max — 1,798 units (down 13.8%) The dependable ute held firm in the commercial segment, favored for its durability and value in fleet and rural applications.
  9. GWM Haval Jolion — 1,789 units (up 39.1%) Another Chinese success story, the Jolion’s affordability and equipment levels continued to drive strong gains for GWM.
  10. Toyota RAV4 — 1,757 units (down 65.4%) The former bestseller suffered as outgoing stock dwindled ahead of the new model’s March arrival, a transitional dip expected to reverse later in the year.

The list highlights key trends: utes and SUVs dominate, comprising eight of the top 10 spots. Chinese manufacturers like Chery and GWM posted explosive growth, with China-origin vehicles jumping 62.9% to claim 23.8% market share. Toyota, the overall brand leader with 14,310 sales (16.4% share), saw a 22.3% decline — its weakest in nearly three years — as models like the RAV4 transitioned.

Electrification accelerated: Battery electric vehicles rose 93.3% to 8.4% share, plug-in hybrids exploded and hybrids held steady at 17.4%. Brands like BYD surged dramatically (up 640.9% year-on-year, though from a low base affected by prior delays), climbing to sixth overall.

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State variations showed resilience in Victoria (+6.3%) and New South Wales (+2.3%), while Western Australia (-12.7%) and the Northern Territory (-18.1%) lagged. Private sales edged up modestly, but short-term rentals jumped 47%, inflating the headline figure.

Analysts note the market’s resilience despite economic pressures, with SUVs’ 61% share reflecting lifestyle shifts toward versatile, family-oriented vehicles. Chinese brands’ momentum challenges established players, potentially reshaping the top 10 as more models arrive and incentives evolve.

As 2026 unfolds, expect battles in key segments: the refreshed RAV4 challenging for SUV supremacy, new HiLux variants bolstering Toyota, and continued Chinese inroads. For now, the Ford Ranger’s lead affirms Australia’s love for capable utes, while diverse powertrains signal a market in transition.

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Uncertainty for UK firms after US tariff ruling, experts say

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Uncertainty for UK firms after US tariff ruling, experts say

UK firms are left in limbo after a court overrules many US tariffs but Donald Trump says he will reintroduce them

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Sumitomo Heavy Industries, Ltd. 2025 Q4 – Results – Earnings Call Presentation (OTCMKTS:SOHVY) 2026-02-20

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Form 13D/A Royalty Pharma plc For: 20 February

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Form 13D/A Royalty Pharma plc For: 20 February

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(VIDEO) NORAD Intercepts Russian Bombers and Fighters Near Alaska in Routine ADIZ Encounter

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Andrew Mountbatten-Windsor

The North American Aerospace Defense Command (NORAD) scrambled U.S. fighter jets Thursday to intercept and escort five Russian military aircraft operating in the Alaskan Air Defense Identification Zone (ADIZ), a standard buffer area outside U.S. and Canadian sovereign airspace.

North American Aerospace Defense Command
North American Aerospace Defense Command

NORAD detected and tracked two Tu-95 Bear long-range strategic bombers, two Su-35 Flanker fighter jets and one A-50 Mainstay airborne early warning and control aircraft in the Alaskan ADIZ on Feb. 19, according to a statement released late Thursday local time, which corresponds to Friday morning in some time zones. The Russian formation remained in international airspace and did not enter American or Canadian territory.

In response, NORAD launched two F-16 Fighting Falcons, two F-35 Lightning IIs, one E-3 Sentry airborne warning and control aircraft, and four KC-135 Stratotanker refueling planes to positively identify the intruders and escort them until they departed the zone. The mission unfolded without incident, and officials emphasized that such activity is routine.

“This Russian activity in the Alaskan ADIZ occurs regularly and is not seen as a threat,” NORAD stated. The command, a binational U.S.-Canadian organization headquartered at Peterson Space Force Base in Colorado, maintains constant vigilance over North American skies and is prepared to employ various response options to defend the continent.

The Alaskan ADIZ extends hundreds of miles beyond territorial boundaries, requiring aircraft to identify themselves for security monitoring. Russian long-range aviation patrols in the Bering Sea region — separating Siberia from Alaska — have been common for decades, often coinciding with exercises or routine flights. Similar intercepts occurred multiple times in 2025, including in September when four Russian aircraft were tracked and escorted, and in April when six planes including Tu-95s, Tu-142s, Su-35s and an A-50 were intercepted.

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Thursday’s encounter involved a mix of bombers capable of carrying nuclear payloads, agile fighters for escort and an A-50 for surveillance, reflecting a coordinated formation typical of Russian strategic aviation operations. The Tu-95, a propeller-driven turboprop bomber nicknamed “Bear” by NATO, dates to the Cold War era but remains a mainstay of Russia’s long-range strike capability. The supersonic Su-35 provides air superiority protection, while the A-50 serves as an airborne radar platform akin to the U.S. E-3.

U.S. aircraft involved represent a blend of legacy and fifth-generation platforms. The F-16, a multirole fighter, and the stealthy F-35, both operated by the Alaska Air National Guard’s 354th Fighter Wing at Eielson Air Force Base, handled the close escort duties. The E-3 provided command and control from aloft, and KC-135s ensured extended endurance for the interceptors.

No aggressive maneuvers or communications issues were reported, and the Russian planes departed the ADIZ as expected. NORAD did not disclose exact locations beyond the general Alaskan ADIZ, which covers vast expanses over the Bering Sea and Arctic approaches.

The incident drew quick media attention amid heightened global tensions, though military officials downplayed any provocative intent. Russian Defense Ministry spokespeople had not commented publicly as of Friday morning. Similar episodes rarely escalate, serving more as demonstrations of presence and capability testing than direct challenges.

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This latest intercept aligns with patterns observed since Russia’s full-scale invasion of Ukraine in 2022, when NORAD noted increased Russian activity in the Arctic and near North American shores. In 2025 alone, multiple releases detailed intercepts of Tu-95/Su-35 pairs and larger formations, often in international airspace west of Alaska.

Experts view these flights as part of Russia’s effort to maintain operational readiness, project power in the Arctic — a region of growing strategic importance due to melting ice opening new shipping routes and resource opportunities — and signal resolve amid strained relations with the West.

NORAD’s response underscores the binational command’s effectiveness in aerospace warning and control. Established in 1957 during the Cold War, it integrates radar networks, fighter squadrons and command structures to detect and respond to aerial threats, from ballistic missiles to unauthorized aircraft.

Alaska’s strategic position makes it a frontline for such monitoring, with bases like Joint Base Elmendorf-Richardson and Eielson hosting advanced fighters and surveillance assets. The state’s proximity to Russia — less than 55 miles separate Big Diomede Island (Russia) from Little Diomede (U.S.) in the Bering Strait — amplifies the need for vigilant patrols.
Public reaction on social platforms included a mix of concern and reassurance, with some users noting the routine nature while others highlighted geopolitical implications. NORAD’s X account posted updates emphasizing readiness without alarm.

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As Arctic militarization continues — with Russia expanding bases and the U.S. bolstering presence through exercises like Arctic Edge — such encounters are likely to persist. Thursday’s event, while unremarkable in military terms, serves as a reminder of the delicate balance in polar airspace.

NORAD reiterated its commitment to sovereignty protection while characterizing the Russian activity as non-threatening and expected. No further details on flight paths or durations were released, consistent with operational security practices.

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Transport Canada has certified Gulfstream G500 and G600 jets, document says

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Transport Canada has certified Gulfstream G500 and G600 jets, document says


Transport Canada has certified Gulfstream G500 and G600 jets, document says

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Market launches programme to support new traders and help people into self-employment

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Scheme includes incubator‐style environment with reduced stall rates and access to experienced business mentors

Rebekah Morris outside the New Leash of Life stall at Fleetwood Market

Rebekah Morris was selected from multiple applicants to run the new pet-themed stall, New Leash of Life, in the main hall at Fleetwood Market(Image: Local Democracy Reporting Service)

A unique training programme at Fleetwood Market is giving aspiring entrepreneurs in Wyre the opportunity to develop real-world business skills. The programme offers priceless hands-on experience in running, marketing, and managing a market stall, key factors in helping a business thrive.

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The initiative, supported by the UK Shared Prosperity Fund (UKSPF), forms part of wider investment allocated to Wyre Council, which, alongside other projects, has helped establish the scheme.

Julian Brent, market manager, said: “This was an idea I’ve carried for many years, and seeing it finally come to fruition is incredibly rewarding.

” With the support of UKSPF funding, we’ve been able to successfully establish and grow the scheme, something I’ve envisioned for many years creating real opportunities for people.

“To now see it operating, supporting individuals into self-employment and bringing new life into Fleetwood Market, is something I’m genuinely proud of.

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“The whole market team have helped to grow this idea and turn it into a reality and I’m excited to see what the future holds.”

The programme is delivered in partnership with Wyre Council and offers recipients the opportunity to run their own business within Fleetwood Market.

Participants receive support through an incubator‐style environment that includes reduced stall rates, access to experienced business mentors, and structured guidance designed to build skills and confidence.

This development initiative helps unemployed individuals gain the practical experience, knowledge, and self‐belief needed to become self‐employed market traders.

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Through hands‐on training in a live retail setting, participants work toward the opportunity to take over a fully stocked market unit at Fleetwood Market.

Among the latest to join is Rebekah Morris, who was selected from multiple applicants to run the new pet-themed stall, New Leash of Life, located in the main hall at Fleetwood Market.

Animal lover Rebekah, 31, who moved to Fleetwood from Blackburn nearly four years ago, said: “This opportunity has really given me the chance to build my experience and create a career for myself. I’m excited to see how the future looks for me now.

“I’ve had loads of pets over the years, including dogs, a horse and even lizards, so it’s right up my street.”

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Inside Fleetwood's market hall

Inside Fleetwood’s market hall(Image: James Maloney/LancsLive)

Councillor Lynne Bowen, portfolio holder for leisure, health and community engagement, added: “Fleetwood Market has always been a vital part of our community, and this programme is a fantastic way to help local people turn their ideas into real businesses.

“By giving aspiring entrepreneurs, the support, space and confidence to grow, we’re investing not only in their future but in the future of our town centres. I’m delighted to see Rebekah take this opportunity, and I look forward to watching her business flourish.”

At the end of her probationary period Rebekah will have the opportunity to continue operating her stall on a permanent basis. The project reflects Wyre Council’s ongoing commitment to supporting local people, strengthening business skills, and revitalising town centre markets as thriving community spaces.

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