On February 20, 2026, President Donald J. Trump issued a Proclamation imposing a temporary 10% ad valorem import surcharge on articles imported into the United States, effective February 24, 2026, for a period of 150 days. This action, taken under section 122 of the Trade Act of 1974, is intended to address "fundamental international payments problems," specifically a "large and serious United States balance-of-payments deficit" that is deemed to harm U.S. national interests, including economic and national security.

The proclamation details a significant balance-of-payments deficit, citing a $1.2 trillion goods trade deficit in 2024 and 2025 (a 40% increase in five years), the annual balance on primary income turning negative in 2024 for the first time since 1960, a 2024 current account deficit of 4.0% of GDP (the largest since 2008), and a sharply declining U.S. net international investment position (negative 90% of GDP by the end of 2024). The goal of the surcharge is to stem the outflow of U.S. dollars, incentivize domestic production, correct the deficit, create jobs, and lower consumer costs.

The import duty includes various exemptions for products considered vital to the U.S. economy or already subject to other trade restrictions. These include certain critical minerals, energy products, natural resources, specific agricultural products (e.g., beef, tomatoes, oranges), pharmaceuticals, electronics, certain vehicles and aerospace products, informational materials, goods covered by Section 232 actions, USMCA-compliant goods from Canada and Mexico, and specific textile/apparel articles from DR-CAFTA countries. The President affirmed that these exceptions are consistent with the purposes and limitations of section 122.

On February 20, 2026, President Donald J. Trump issued an Executive Order to continue and revise the suspension of duty-free de minimis treatment for imports under 19 U.S.C. 1321(a)(2)(C). This action is taken under the authority of various acts, including IEEPA, to address ongoing national emergencies previously declared in several Executive Orders concerning illicit drugs, border situations, trade deficits, and perceived threats from foreign governments.

The order notes that while conditions outlined in a prior Executive Order (EO 14324, which suspended de minimis treatment) have occurred—implying previous IEEPA duties were challenged—the Secretary of Commerce has confirmed that adequate systems are now in place to collect applicable duties on shipments sent through the international postal network.

Consequently, the Executive Order revises EO 14324 to ensure that the duty-free de minimis exemption no longer applies to most shipments, regardless of value or origin. Specifically, for international postal shipments that would have qualified for the exemption, a duty equal to the rate established by the Proclamation of February 20, 2026 (Imposing a Temporary Import Surcharge), will be assessed. Transportation carriers or other qualified parties are mandated to collect and remit these duties to U.S. Customs and Border Protection (CBP). These modifications are effective for goods entered for consumption on or after 12:01 a.m. EST on February 24, 2026. The order emphasizes that these actions are necessary to deal with the declared national emergencies.

On February 20, 2026, President Donald J. Trump issued an Executive Order terminating the collection of specific additional ad valorem import duties that were previously imposed under the International Emergency Economic Powers Act (IEEPA). These duties, which stemmed from several Executive Orders issued in 2025 and 2026, were originally put in place to address national emergencies related to illicit drugs, border issues, synthetic opioid supply chains, Venezuelan oil imports, trade deficits, and perceived threats from various foreign governments including Brazil, Russia, Cuba, and Iran.

The order states that "in light of recent events," these particular IEEPA-imposed duties are no longer in effect. However, it explicitly clarifies that all other actions taken under those prior Executive Orders that do not involve IEEPA duties, as well as the underlying national emergencies themselves, remain active. Notably, a separate Executive Order from February 20, 2026, which continues the suspension of duty-free de minimis treatment for low-value shipments, and a Proclamation from the same date imposing a new temporary import surcharge to address international payments problems, are unaffected by this new order. The order directs relevant agencies to immediately cease collecting these specified IEEPA duties.

President Donald J. Trump has signed a Proclamation imposing a temporary 10% ad valorem import duty for 150 days, effective February 24, 2026, at 12:01 a.m. EST. This action, taken under section 122 of the Trade Act of 1974, aims to address fundamental international payments problems, rebalance trade relationships, and benefit American workers, farmers, and manufacturers by stemming dollar outflow and incentivizing domestic production.

The temporary duty includes exemptions for certain critical minerals, energy products, natural resources, specific agricultural products (like beef, tomatoes, oranges), pharmaceuticals, certain electronics, various vehicles and parts, aerospace products, and informational materials. Goods already subject to section 232 actions, USMCA compliant goods from Canada and Mexico, and certain textiles/apparel from DR-CAFTA countries are also exempt. In a separate Executive Order, President Trump reaffirmed the suspension of duty-free de minimis treatment for low-value shipments, making them subject to the new duty, and directed the U.S. Trade Representative to investigate unfair trade practices under section 301 authority.

The administration highlights a "large and serious balance-of-payments deficit," noting a $1.2 trillion goods trade deficit in 2024 (a 40% increase during the "Biden Administration") and a negative U.S. net international investment position of $26 trillion (89% of U.S. GDP) by the end of 2024. These issues are framed as endangering U.S. economic and national security. The article stresses that tariffs will remain a critical tool for protecting U.S. interests, despite a "disappointing" Supreme Court decision, and reaffirms the administration's commitment to reshaping the global trading system, reshoring domestic production, and expanding market access abroad through a combination of tariffs and trade deals.

The article, referencing White House Deputy Press Secretary Kush Desai, reports that today's GDP report shows President Trump is delivering "robust private sector-led economic growth" with strong consumption and investment. It claims that GDP growth for 2025 exceeded "expert" predictions despite a "Democrat Government Shutdown" last fall. The Trump Administration asserts that its agenda of tax cuts, deregulation, tariffs, and energy abundance will further accelerate America's economic comeback in 2026.

The article repeatedly emphasizes that the 43-day "Democrat Shutdown" "blunted our economic momentum" and "cost the American people meaningful growth," yet robust growth in 2025 was "fueled by surging business investment, private-sector job creation, and strong wage gains that surpassed economists’ expectations." It cites numerous warnings from Trump Administration officials—including the Council of Economic Advisers, Secretary of the Treasury Scott Bessent, and National Economic Council Director Kevin Hassett—about the economic damage the shutdown would cause, with estimates ranging from 0.2 to 2.0 percentage points off GDP growth. President Trump is quoted multiple times attributing a loss of "at least one-and-a-half points" of GDP growth to the shutdown.

External economists and organizations, such as CNN, the Congressional Budget Office, Goldman Sachs, and EY-Parthenon, are also cited as confirming the shutdown's negative impact on economic growth, reinforcing the administration's claims about its detrimental effects.

First Lady Melania Trump today donated her 2025 inaugural gown to the Smithsonian National Museum of American History’s First Ladies Collection, an honor few First Ladies have received. Designed by Hervé Pierre, the strapless off-white silk crepe gown with black silk gazar trim, paired with a reproduction of a 1955 Harry Winston diamond brooch, was described by Mrs. Trump as a testament to American originality, creativity, and craftsmanship. She emphasized that "human nature resides in the discipline of detail" and that America's fashion industry can lead globally due to the "superior team of patternmakers, seamstresses, and artisans" behind couture.

Mrs. Trump highlighted the gown as more than just a dress, but a reflection of over "50 years of education, experience, and wisdom," with its meticulous details and a "black shape 'Z'" on the bodice symbolizing her early memories and influences. She is the first non-consecutive First Lady and only the second in history (after Ida McKinley) to have two inaugural gowns represented in the collection. The First Ladies Collection, established in 1912, is one of the Smithsonian's most popular exhibitions, holding over 1,000 objects. Visitors can view Mrs. Trump’s gown starting this afternoon, with free admission.

On February 18th, Drug Czar Sara Carter led a roundtable bringing together Trump Administration officials (from DOS, HHS, DEA, HUD, HSI, USPIS, and ATF) and representatives from social media companies including Meta, TikTok, X, YouTube, and Internet Works. The discussion focused on combating the sale of illicit drugs, particularly fentanyl-laced pills, via social media platforms, which traffickers often use to target children. Director Carter highlighted the tragic consequences of such sales, emphasizing the need for full cooperation from social media companies, law enforcement, and government, alongside parental education and monitoring of children's online activity. All participants committed to enhancing coordination to prevent illicit drug activity and the abuse of social media platforms.

At the India AI Impact Summit 2026 in New Delhi, the United States, led by Director Michael Kratsios of the White House Office of Science and Technology Policy, unveiled a vision to empower global allies with cutting-edge and sovereign AI technologies. Kratsios emphasized America's leadership in AI and advocated for "real AI sovereignty," defined as nations owning and using best-in-class technology for their people while charting their national destiny amidst global transformations, rather than striving for full self-sufficiency. He urged nations to focus on strategic autonomy alongside rapid AI adoption and firmly rejected attempts at global governance of AI, stating that AI adoption cannot thrive under "bureaucracies and centralized control."

Kratsios also highlighted the growing disparity in AI adoption between developed and developing economies, encouraging developing countries to prioritize AI technologies in sectors like healthcare, education, energy, and agriculture. To accelerate global adoption of the American AI stack, the Trump Administration announced several new initiatives: the American AI Exports Program's National Champions Initiative to integrate partner nations' AI companies, the U.S. Tech Corps (a new Peace Corps initiative) to provide technical support for AI deployment, new international financing programs from the Treasury Department and other U.S. agencies to overcome adoption barriers, and NIST/CAISI's AI Agent Standards Initiative to develop interoperable and secure standards for agentic AI. The message from the U.S. delegation was clear: American AI is the "gold standard," and the U.S. aims to share it with partners to secure a shared future.