12:30 Report — Supreme Court deals a major blow to Trump

🌍 Plus: Trump considers limited strike on Iran

12:30 REPORT 12:30 REPORT Friday, Feb. 20, 2026 | By Cate Martel Today in DC: ☁️ 48°  View Online  |  Sign up Happy Friday! The U.S. men's ice hockey team is competing in the Olympic semifinals at 3:10 p.m. today! Let's hope they're as successful as the women's team!   In today's issue: Supreme Court strikes down Trump's tariffs How will the White House respond? U.S. economic growth slows Trump considers limited strike on Iran Today's governors' meeting at the White House Fake ICE deportation tip line goes viral 🏛️ THE SUPREME COURT A major blow to the Trump administration:  Greg Nash The Supreme Court struck down most of President Trump's tariffs this morning, issuing a rare and major blow to his administration.  Why this is such a big deal: "The decision invalidates what the Trump administration called the president's most significant economic and foreign policy initiative of his second term, a result Trump has warned could foist financial ruin upon the United States." Read more  The justices' rationale for shooting it down: They rejected Trump's justification for using the a 1970s law that gave the president the authority to impose tariffs to deal with national emergencies that pose an "unusual and extraordinary" threat to the U.S.  The decision: 6-3. Chief Justice John Roberts wrote the opinion. Justices Samuel Alito, Clarence Thomas and Brett Kavanaugh dissented.   🔎 Read the ruling  Did the Trump administration see this coming?: The New York Times reported last month that the White House had been preparing for this scenario.  What will the Trump administration do now?: The White House reportedly may reimpose tariffs under another justification. But timing and specifics are still unclear.   💬 Follow today's live blog  ➤ REACTIONS: President Trump called it a 'disgrace': Trump called the Supreme Court ruling a "disgrace" during a private meeting with governors, per The Hill's Julia Manchester and Sarah Fortinsky. Happening at 12:45 p.m.: White House press secretary Karoline Leavitt announced that Trump will speak at 12:45 p.m. on the tariffs.  Schumer celebrated: Senate Minority Leader Chuck Schumer (D-N.Y.) praised the Supreme Court's ruling as a victory for Americans and the U.S. economy. "Trump's chaotic and illegal tariff tax made life more expensive and our economy more unstable," Schumer said in a statement. "Families paid more. Small businesses and farmers got squeezed. Markets swung wildly." More from Schumer  Warren calls for consumer refunds: "No Supreme Court decision can undo the massive damage that Trump's chaotic tariffs have caused," Sen. Elizabeth Warren wrote in a post on X. "The American people paid for these tariffs and the American people should get their money back. Paul cheers: "In defense of our Republic, the Supreme Court struck down using emergency powers to enact taxes," Sen. Rand Paul (R-Ky.) wrote on X. "This ruling will also prevent a future President such as AOC from using emergency powers to enact socialism." 🐢 NEWS THIS MORNING: The U.S. economy had a slow end to 2025:  The U.S. economy grew far slower than expected in the last several months of 2025.   U.S. gross domestic product (GDP) grew by just 1.4 percent during the fourth quarter. For context, economists had expected the economy to grow by 3 percent.   What may have contributed to the slowed growth: The 43-day government shutdown in the fall.   Oh, and prices are up: Prices grew a bit faster than expected. "The personal consumption expenditures (PCE) price index was up 2.9 percent over the past year and 0.4 percent in January, edging above expectations of a 2.8 percent annual inflation rate and a 0.3 percent monthly increase in prices." Read more  🎤 IN THE WHITE HOUSE Take Trump's Iran threats seriously:  President Trump says he is considering a limited strike on Iran if the country doesn't agree to a deal with the U.S. over its nuclear program.  The Wall Street Journal reported Thursday that Trump is actively weighing a limited strike on Iran to force the country to agree to his demands.   Why a limited strike?: An all-out strike could trigger Iran to retaliate against the U.S. Trump is hoping a smaller- scale strike will instead encourage negotiations.  Read more: 'Iran strikes "likely" as Trump seeks maximum leverage'  Related analysis from The New York Times: 'As Trump Weighs Iran Strikes, He Declines to Make Clear Case for Why, or Why Now'  Excerpt: "Rarely in modern times has the United States prepared to conduct a major act of war with so little explanation or public debate."  I hope the RSVP list was written in pencil:  Democratic Govs. Wes Moore of Maryland and Jared Polis of Colorado attended the National Governors Association (NGA) meeting with President Trump this morning after the White House changed its mind and invited them.  From Moore: "I will attend today's business meeting with my colleagues at the White House. But let me be abundantly clear: I will not participate in political stunts."  From Polis: "I've always said I'm willing to work with anyone to make our state better. After the White House finally made it clear National Governors Association (@NatlGovsAssoc) vice chair Governor Wes Moore (@GovWesMoore) and I were invited to the business session, we decided it was important to attend today's meeting.…"   🎥 The Hill's Julia Manchester posted a video from the event: "You can't tell from this video but Gov. Wes Moore was seen clapping when President Trump arrived at the governors breakfast." 🎥 Watch  ➤ HAPPENING TODAY: First lady Melania Trump donated her 2025 inaugural ball gown to the Smithsonian. 📸 Photos of the dress ➤ QUICK HITS: — Axios reports that D.C. residents log the most exercise, according to Apple Watch data.  — Virginia Gov. Abigail Spanberger (D) will give the Democratic response to President Trump's State of the Union address next week.   — Kentucky's Supreme Court struck down a law that would have allowed public funds to go toward charter schools.  — A new study found that Friday is the best day to book a flight, while Sunday prices are the highest.  ➤ MORE READS: The Atlantic: Our Olympians Are Being Put in an Impossible Position: American athletes have been asked to account for Trump—then attacked for doing so.  The Wall Street Journal: White House Offers New Details on Its Push to Ban Housing Investors  The Hill: Hundreds of students suspended, schools under close watch over anti-ICE walkouts  The New York Times: 11 Million Visitors Short: Inside America's Continuing Tourism Slump  COMING UP The House and Senate are out. President Trump is in Washington. (All times EST) 3 p.m. Treasury Secretary Scott Bessent delivers remarks on Trump Accounts. 💻 Livestream  3:10 p.m. The U.S. men's hockey team plays Slovakia in the Olympic semifinals!  🐝 INTERNET BUZZ 🥧 Celebrate: Today is National Muffin Day and National Cherry Pie Day!    ☎️ A dark prank: A comedian created a fake ICE deportation tip line. Then, a teacher called in reporting a kindergartener's parents. That clip has gone viral on social media. Read more    🏂 What cool shots: A photographer captured photos of several Olympic athletes competing in the same event — and then combined them into one photo. 📸 Photos   👋 AND FINALLY… To get your weekend off on the right foot, watch this large dog cross the finish line at the Winter Olympics. He may not have been invited, but he got a great reception from fans!   Stay Engaged  📺 Miss the previous issue of this newsletter? Catch up with a 1-minute video. I love hearing from you — send your feedback, tips and favorite cookie recipes to cmartel@thehill.com. Check out more newsletters here. See you next time! Privacy Policy  |  Manage Subscriptions  |  Unsubscribe |  View Online  | Sign Up for Other Newsletters 400 N Capitol Street NW Suite 650, Washington, DC 20001 © 1998 - 2026 Nexstar Media Inc. | All Rights Reserved.