The Supreme Court has struck down many of President Trump's tariffs, ruling that the emergency law used to impose them does not authorize broad trade taxes.

In this breaking news update, Kathy Fettke explains what the decision means for inflation, construction costs, and the housing market. Some tariffs remain in place, but others may be reversed — and billions in potential refunds could follow.

How could this impact builders, mortgage rates, and real estate investors? We break it down in simple terms and explain what to watch next.

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Sources: https://www.nbcnews.com/politics/supreme-court/supreme-court-strikes-trumps-tariffs-major-blow-president-rcna244827
https://www.nytimes.com/live/2026/02/20/us/trump-tariffs-supreme-court