Pierre Bien-Aimé

Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

We'll have more coverage of the day's news on the WSJ's What's News podcast.

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Here's your midday brief for Friday, February 20th.

I'm Pierre Bien-Aimé for The Wall Street Journal.

The Supreme Court has ruled that President Trump's global tariffs are illegal, striking down a central part of his economic agenda.

Chief Justice John Roberts wrote for the 6-3 majority, saying the president exceeded his powers by imposing duties without clear authorization from Congress.

Companies have already filed hundreds of protective lawsuits seeking to preserve their ability to claim refunds from the government for tariffs they have already paid.

It wasn't immediately clear whether the administration will have to issue refunds to companies that have been paying tariffs for months.

The Supreme Court majority didn't address that question.

The tariffs before the Supreme Court represented a big majority of Trump's duties.

He had declared overdose deaths from fentanyl and persistent annual trade deficits to be national emergencies that justified the new trade policy.

U.S.

gross domestic product grew at a 1.4 percent annual rate in 2025's final quarter, falling short of the growth expected by economists.

GDP measures the value of all goods and services produced in the economy.

The fourth quarter figure was weighed down by last fall's record-long government shutdown and slower consumer spending.

Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

We'll have more coverage of the day's news on the WSJ's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

Here's your midday brief for Friday, February 13th.