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Story summary
- U.S. President Donald Trump announced a 15 percent global tariff that will take effect this week.
- A Supreme Court decision challenged the president's policy.
- Trump invoked Section 122 of the Trade Act of 1974 to implement tariffs.
- Treasury Secretary Scott Bessent said more oil announcements are expected to stabilize energy markets.
- The testimony before the Senate Banking Committee in Washington occurred on February 5, 2026.
