The iShares MSCI Poland ETF (EPOL) rose 1.4% following a US Supreme Court ruling on February 20, 2026 that struck down President Trump's sweeping tariffs. The court upheld a lower court decision that the president exceeded his authority under the 1977 emergency powers law used to justify the duties. The ruling prompted a muted rally in global stock markets. The government may now owe $150 billion to $200 billion in refunds to US and foreign companies that paid the tariffs. Trump announced Friday afternoon that he will invoke other powers to re-impose import duties, including a blanket 10% tariff on US trading partners under section 122 of the 1974 Trade Act. The ruling could affect sectors with high foreign revenues, including technology, materials, energy, and industrials.
Read full analysisThe iShares MSCI Poland ETF (EPOL) rose 1.4% following a US Supreme Court ruling on February 20, 2026 that struck down President Trump's sweeping tariffs. The court upheld a lower court decision that the president exceeded his authority under the 1977 emergency powers law used to justify the duties. The ruling prompted a muted rally in global stock markets. The government may now owe $150 billion to $200 billion in refunds to US and foreign companies that paid the tariffs. Trump announced Friday afternoon that he will invoke other powers to re-impose import duties, including a blanket 10% tariff on US trading partners under section 122 of the 1974 Trade Act. The ruling could affect sectors with high foreign revenues, including technology, materials, energy, and industrials.
EPOL is an iShares ETF that tracks the MSCI Poland Index, providing exposure to large- and mid-cap Polish equities across sectors including financials, energy, and consumer discretionary. It serves as one of the few liquid vehicles for U.S. investors seeking dedicated Poland exposure. Poland's open, export-oriented economy makes the fund sensitive to global trade policy shifts like the Supreme Court tariff ruling.