WASHINGTON (AP) — Tariffs paid by midsize U.S. businesses tripled over the course of past year, new research tied to one of America’s leading banks showed on Thursday — more evidence that President Donald Trump ‘s push to charge higher taxes on imports is causing economic disruption.

By Timothy Aeppel and Laura Matthews Feb 20 (Reuters) - Companies that hedged their bets by selling potential tariff refund claims to investors celebrated on Friday after the U.S. Supreme Court struck down President Donald Trump's sweeping emergency tariffs.

While the vast majority of Canadian exports were exempt from the tariffs now struck down, the ruling does not effect duties harming several key industries.

The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries.

The Supreme Court case focused mainly on reciprocal tariffs, and the ruling leaves much of the U.K.'s trade deal with the U.S. — including preferential sectoral tariffs on steel, pharmaceuticals and autos — unaffected.

By Elisa Anzolin, Christoph Steitz, Emma Rumney and Dominique Patton MILAN/FRANKFURT/LONDON/PARIS, Feb 21 (Reuters) - From European ⁠wine ⁠makers to chemical companies and distillers, the U.S. ⁠Supreme Court ruling knocking down a large part of President Donald Trump's trade tariffs comes with a sting in ​the tail: an even more uncertain trade outlook.