The Supreme Court’s decision to strike down most of President Trump’s sweeping tariffs has left the business community frozen on what to do next, with many calling the policy “chaotic” and unsure of how to proceed.
Talk of a Trump Slump is gaining momentum on Wall Street and in C-suites, as the Supreme Court struck down most of President Trump’s sweeping tariffs on Feb. 20. The court ruled 6-3 that the president lacks authority to impose tariffs under a 1977 emergency powers law.
Former Medtronic CEO and veteran public company board member Bill George said on Yahoo Finance’s Opening Bid that “this is chaos reigns. President Trump missed a golden opportunity to reset his economic policy around investment in jobs instead of tariffs. The tariff policy is not working.”
The Ls for Team Trump are starting to accrue, with the US economy slowing markedly in terms of growth in the fourth quarter of 2025 amid the government shutdown. Inflation hit a 2025 high of 2.9% in December, and the Federal Reserve is unlikely to cut interest rates in the near term.
Beyond tariffs, the administration’s friendliness to the crypto industry hasn’t been enough to spark renewed buying in bitcoin (BTC-USD) in 2026. The cryptocurrency is embroiled in a straight-up bear market.
George said the business community is currently frozen on what to do next, post-tariff decision. “If I were a CEO, I would hold off [doing anything] because I have no idea what the tariffs are,” George said. “They changed six times in the weekend, so I have no idea by country what it is, so I can’t even run the numbers.”
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