From this point of view, the U.S. correction mechanism is still very powerful. Regardless of whether the president is willing or not, the administrative agencies under court rulings are immediately enforceable. In theory, stopping the tariff trade war should be a positive for the global economy. The US stock market has already closed higher, and it's unclear why the crypto market continues to plunge, with a drop below 64,000 at one point this morning.

At 9:57 PM Eastern Time on February 22, 2026, corresponding to 10:57 AM Beijing Time on February 23, the U.S. Customs and Border Protection official website issued an official announcement, terminating the tariffs imposed by Trump under the International Emergency Economic Powers Act (IEEPA), including retaliatory tariffs and fentanyl tariffs.
At 12:01 AM Eastern Time on February 24, 2026, the tariffs officially ended, corresponding to 1:01 PM Beijing Time on February 24.
This applies to all countries and regions, stopping the imposition of retaliatory tariffs and fentanyl tariffs. For China, the canceled tariffs include a 10% fentanyl tariff and a 10% retaliatory tariff.
Below is the announcement from the U.S. Customs and Border Protection official website:
The terminated Trump tariff orders are as follows:
● Executive Order No. 14193, "Imposing Tariffs on Illegal Drug Flows at the Northern Border," 90 Fed. Reg. 9113 (February 1, 2025), as amended;
● Executive Order No. 14194, "Imposing Tariffs on the Situation at the Southern Border," 90 Fed. Reg. 9117 (February 1, 2025), as amended;
● Executive Order No. 14195, "Imposing Tariffs on Synthetic Opioids from the People's Republic of China"