Archive note · corrected
Tariff policy on 20 February 2026: separate the Court opinion from the import surcharge
A dated correction separates the Supreme Court opinion, White House actions and effective date, and withdraws an unregistered influencer-call scorecard.
What changed in this article
Editorial correction · 9 September 2026. The original article was published on 21 February 2026 and compressed several different legal and executive actions into one “global tariff” event. The official records show a Supreme Court opinion, an executive order and a separate presidential proclamation. The page also did not include the timestamped call register, price marks, hedge instructions or stop executions behind its 57-call, 11/57 and 35/57 results. Those trading results and related causal claims are withdrawn. The original URL and publication date remain unchanged.
This is a dated source correction, not current legal advice or a view on what a trader should do.
What the dated records establish
| Date | Record | What it establishes | Status boundary |
|---|---|---|---|
| 20 February 2026 | Learning Resources, Inc. v. Trump, No. 24-1287 | The Supreme Court issued an opinion addressing whether IEEPA authorized the challenged tariffs. The opinion is the judicial record for the case. | Decided: a court opinion, not a customs entry record or a new tariff schedule. |
| 20 February 2026 | Executive Order 14389, Ending Certain Tariff Actions | The order directs the end of certain IEEPA-based tariff actions and says it does not affect the separate temporary surcharge in Proclamation 11012. | Signed/ordered: agency implementation was directed; the order is not the separate 10% surcharge instrument. |
| 20 February 2026 | Proclamation 11012, Imposing a Temporary Import Surcharge | The proclamation sets a temporary 10% ad valorem import surcharge and specifies a 150-day period. Its modifications apply to covered goods entered for consumption or withdrawn from warehouse at or after 12:01 a.m. Eastern time on 24 February 2026, subject to the stated exceptions and boundaries. | Proclaimed with an effective date: this is not the same document as the executive order. |
| 25 February 2026 publication; 24 February effective date | Federal Register notice for the surcharge | The published notice records the proclamation’s signature date as 20 February and its effective date as 24 February. | Published/effective: publication on 25 February does not move the stated legal effective date to 25 February. |
The reviewed record does not supply an entry-level customs dataset showing which importer paid what amount. The proclamation directs the relevant agencies to implement it, but that direction is not evidence of a particular import entry, fill, market move or trading outcome.
Decided, ordered, stayed and implemented are not interchangeable
- Decided: the Court opinion resolves the legal question presented in that case.
- Ordered/signed: the executive order and proclamation are presidential instruments issued on 20 February.
- Effective: the proclamation specifies 24 February for the covered import modifications.
- Stayed: this correction does not claim a stay. The original page did not provide a stay order, and no stay is used to fill that gap.
- Implemented: agency implementation is directed by the documents; the supplied source set does not prove individual customs collections or the execution of a trading strategy.
What is withdrawn
The article’s 57 public calls, 11/57 (19.3%) profitable result, 35/57 (61.4%) result under a 50% index hedge and stop protocol, median returns, drawdowns, “calls still valid” counts and broad-index comparison are not verified findings. The page does not publish the call URLs and capture times, directional labels, instrument and venue, benchmark marks, hedge timestamps, stop rules, fills, costs or calculation output needed to reproduce them.
The table of intraday moves, the claim that two policy signals caused particular influencer books to crack and the resulting process-performance conclusion are withdrawn for the same reason. The dated policy records above do not identify a causal market return or a creator-cohort outcome.
Minimum register for a future event study
A reviewable version would need the document identifier and timestamp for each policy event; whether the event was announced, signed, effective or stayed; the public call URL and capture timestamp; instrument, venue, currency and price-mark convention; entry and exit rules; hedge ratio and timing; stop and slippage rules; fees; benchmark; and the complete calculation output. Until that register exists, the page can preserve the historical question but cannot publish a call-survival rate.
Original publication: 21 February 2026. Correction: 9 September 2026. AI-assisted source checking and writing; no independent human expert review. This page is educational market research, not personalized investment advice.