全球宏观-《国际紧急经济权力法》关税被否决-Global Macro Commentary-February 20 IEEPA Tariffs Struck Down

February 21, 2026 12:06 AM GMT Global Macro Commentary | North America February 20: IEEPA Tariffs Struck Down US Supreme Court overturns IEEPA tariffs; US announces 10% global tariffs instead; modest US rates sell-off amid fiscal concerns, supported by risk-on rotation; soft US 4Q GDP and strong PCE; soft Japan inflation; tariff-exposed EM currencies rally; DXY at 97.8 (-0.1%); US 10y at 4.08 (+1.5bp). | M February 20: IEEPA Tariffs | Strategist Bradley.Tian@morganstanley.com | | | --- | --- | --- | | | | U ...