HONG KONG: Asian stocks rose while the dollar fell Monday (Feb 23) after the US Supreme Court struck down a large part of President Donald Trump's tariff policy that had sent shockwaves through the global economy last year.The rally was led by tech firms, which have been at the forefront of regional gains thi

European Union lawmakers Monday put a key trade deal with the United States on hold, demanding clarity after a Supreme Court ruling struck down many of President Donald Trump's tariffs.

China said it is paying "close attention" to potential moves by the US to maintain increased tariffs.

The European Union has put a trade deal with the United States on hold until they receive more clarity on the US Supreme Court ruling.

On the merits, the Supreme Court's decision last week to invalidate much of the president's global tariff regime is to be welcomed. Yet the court's judgment, sound as it might be on constitutional grounds, can't by itself undo the damage that America's turn to protectionism has already caused - nor prevent worse to come.

The president signed an executive order implementing 10 percent global tariffs after calling the justices who struck down his signature trade policy a “disgrace.”

In a 6-3 ruling, justices upended the Trump administration’s signature economic policy, potentially putting the US government on the hook for at least $175 billion in tariff refunds.