1632 GMT - Europe should now prepare for more specific U.S. trade tariffs on individual industries after the Supreme Court ruled global tariffs illegal, ING economists Carsten Brzeski and Julian Geib write in a note to clients. The court ruled the tariffs applied under emergency powers weren't legitimate, a rebuff to President Trump's landmark tariff policy. But duties applied to individual sectors such as cars and pharmaceuticals aren't covered by those powers, ING says. Auto components and chemicals are among the likely next targets, the Dutch bank says. "Europe should not be mistaken," ING says. "This ruling will not bring relief." (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

February 20, 2026 11:32 ET (16:32 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.