President Donald Trump unleashed a fiery State of the Union address, savaging the Supreme Court’s tariff ruling as “very unfortunate” while vowing 15% replacement duties under Section 122 would “substantially replace income tax,” lifting the “great financial burden” off American families amid economic wins and Iran warnings.
Tariff Triumph Over Judicial Setback
Trump blasted the 6-3 SCOTUS decision invalidating his sweeping IEEPA tariffs: “Fools on the court blocked our Liberation Day plan, but foreign nations pay these tariffs—not Americans.” He signed a proclamation for 15% global levies (150-day limit, Congress extendable), exempting pharma/ag/electronics, claiming they’d fund “Warrior Dividends” and slash income taxes—despite economists’ warnings importers bear costs fueling inflation.
“Congressional action not necessary,” Trump declared to roaring Republicans, framing it as Phase 2 after judicial Phase 1 block.
Economy Boasts & Midterm Rally Cry
Trump touted “One Big Beautiful Bill” tax cuts, Musk-led DOGE efficiencies trimming $2T waste, 2.8% unemployment, and border wall completion. Guests included Gen. Dan Caine (Iran strike hero) and deportation beneficiaries.
Democrats groaned as Trump warned Iran: “Make a deal or face very bad day”—two carrier groups poised post-Midnight Hammer.
Global Ripples for India
15% tariffs hit IT/pharma/textiles ($50B US exports), compounding Nifty’s 1% crash. Rupee pressure mounts amid $71 Brent oil; Modi’s Israel pivot eyes IMEC diversification.
VP Vance rebuttal hammered affordability; GOP eyes midterms. Trump’s defiant vision: Tariffs = prosperity engine. Markets await fallout.
