Reuters World News - UPDATE - Trump tariffs, Iran, Andrew photo and Canada-US hockey

Episode Date: February 21, 2026

The Supreme Court’s move against Donald Trump’s tariff powers sets off a $175 billion tariff dispute now headed back to the trade court. U.S. officials consider Iran strike options. Reuters photographer Phil Noble talks how he took the viral Andrew Mountbatten‑Windsor car shot. Plus, Canada and the United States brace for a blockbuster Olympic ice hockey final. *This podcast has been updated to include the latest announcement of a temporary tariff increase to 15%. Listen to the latest On Assignment episode: Four years of war: On the ground in Ukraine Listen to the Morning Bid podcast ⁠⁠⁠⁠here⁠⁠⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠⁠⁠here⁠⁠⁠⁠.Listen to the Reuters Econ World podcast ⁠⁠⁠⁠here⁠⁠⁠⁠. Visit the ⁠⁠Thomson Reuters Privacy Statement⁠⁠ for information on our privacy and data protection practices.You may also visit ⁠⁠megaphone.fm/adchoices⁠⁠ to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, I'm Tara Oaks in Liverpool. It's Saturday, February 21st. Today. Trump says he'll raise the US global tariff rate to 15%. Officials say US strikes on Iran could target individual leaders. We speak to a photographer behind that photo of former Prince Andrew. Plus, Milan gears up for an ice hockey Olympic final for the ages. MSA versus Canada.

This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. President Donald Trump says he'll raise temporary tariffs on almost all US imports to 15% as part of his backlash against the US Supreme Court striking down his previous tariff program as invalid. It's a rapid jump from yesterday's 10% across the board tariff, which he announced in the initial wake of the court's decision. The new levies are grounded in a separate law that allows tariffs up to 15% max, but requires congressional approval to extend them after 150 days.

Here's our US economics editor, Dan Burns, on what could come next. The Supreme Court's ruling on Friday is not the end of this process, particularly the litigious process. It kicks the case back down to, the International Trade Court, where they will sort out things like, are we going to tell the government to refund $175 billion of tariffs that they've been collected since last January? Are they going to say, well, forget that. That's too difficult, but you can't do it going forward. So what's considered prospective relief, which would leave that $175 billion, still in the coffers of the U.S. Treasury.

And then there's the question about our company's going to be able to get refunds. That's part and parcel to that fight that's now going to take months at a minimum to play out at a lower court and possibly face appeals from there about those findings and those rulings coming ahead. This ruling could overshadow Trump's trip to China next month, where tariffs are expected to be a major focus. And for a deeper look on the tariff fallout, plus the board. broader economy, head to our sister podcast Morningbid. We'll drop a link in the show notes. As a fallout from that tariff decision continues, and advisors urge him to focus on voters' economic concerns ahead of the midterms, President Trump is pushing the US to the brink of war with Iran.

And the administration still isn't giving Americans a clear explanation for why the US might be moving towards its most aggressive action against Iran in decades. Reuters' chief national security reporter, Phil Stewart, has been tracking what the Pentagon is preparing for. What we've learned is that this planning is incredibly granular, and it includes now potentially targeting individual Iranian leaders, and as well as options ranging all the way up to full regime change. And so we don't know exactly what the order of battle, as they call it in the military, would be. But we reported a week ago that the U.S. military was planning for our military. potentially weeks-long sustained operation against Iran. And if you talk to experts and analysts,

what that really means is that there's going to be kind of exchange of blows. And the Iranians are far more capable than what the United States had to deal with in Iraq and far more capable than what the United States had to deal with when they fought the Taliban. And so you are talking about potentially an actual conflict. So the Iranians have lots of options, right? They They control the waters off their coast, or at least they would seek to control them. And one way they could do that is by mining the strait. Now, they've always threatened that if their regime were threatened or if their ability to export oil were threatened, then nobody would be able to export oil and they would have

to mine the strait. And of course, that is quite problematic for global oil markets. Poor years into Russia's invasion, millions of Ukrainians are still living in limbo across Europe. families separated and futures uncertain. In Poland, Marina Bondarenko, a Ukrainian journalist and refugee from Kiev keeps three suitcases packed by the door, constantly thinking how they will pack up and go home. This week's On Assignment podcast, Out Today, explores how displacement has reshaped daily life for Ukrainians abroad, including our own journalists,

and whether returning home still feels possible after so much time away. We'll drop a link in the description. Now it was the photograph of the week of a former prince who was once a dashing naval officer and reputed favourite son of the late Queen Elizabeth, now known as just Andrew Mountbatten Windsor, slumped, seated in the back of a car

after his release under investigation on suspicion of misconstition of misconduct in public office over his ties to late sex offender Jeffrey Epstein. Mountbatten Windsor has always denied any wrongdoing in relation to Epstein. That photo has gone beyond viral, topping front pages around the world

and even being compared to classical art like Edward Munches, The Scream. And it was taken by our very own Reuters photographer, Phil Noble, who hails from a little place called Liverpool, England. So I'm obviously based in the frozen north of England a million miles away from Norfolk. The news breaks, former Prince Andrew, arrested.

So then we started to deploy assets down to Norfolk. And then it's just proper old school journalism, where there is police stations with the custody suite, where could he possibly be? In the four and a half, five hours, it took me to drive down there. Our video colleague, Marissa, was closer than I was. She'd gone to the police station. I joined her.

and it just didn't feel right initially. There was no sign of cars, no activity, and we'd been there for about an hour and a half, two hours. It was getting cold and dark and wet. I'd started to make my way towards the hotel, and at that moment, two cars pulled into the police station. Marissa sent a really helpful message saying, Phil, there's two cars arrived.

You might want to come back. So I literally turned around, race back to the police station, and within a minute, minute and a half of me, arriving back out of breath and panicky. The cars left the police station and he was in the back of one of them. The skill, the art of a car shot, it's an awful lot of look and a little bit of judgment so you still need the gods on your side to make sure you get it. I've been at Rootter's a long time and you get used to having photographs and video clips and whatever travel widely. It's unusual in this day and age to be pretty much the only photographer at an event. There's

always, you know, people with mobile phones, lots of other journalists. I was lucky that everything lined up and I got it. And because I was the only one there, it's the only image. In today's day and age, it just doesn't happen. Over to Milan now, where the stage is set for Sunday's men's ice hockey final at the Winter Olympics. Rivals Canada and the United States are gearing up for a blockbuster Olympic showdown. Our sports reporter Amy Tennery is in Milan. The excitement and the interest in the USA-Canada rivalry has reached a whole other level because you have truly the best players in the world playing each other.

It is the most epic rivalry in international hockey. What makes it so compelling this time around is that we're seeing the return of National Hockey League players to the Olympic stage for the first time since 2014. Four years ago, it was actually Finland who had the surprise upset. over the Russian Olympic Committee. It was not a result that anybody really expected. Of course, this time around, the Russian team wasn't allowed to compete due to sanctions over the conflict in Ukraine. That really blew this competition wide open because anybody who follows hockey knows

the history of Russia and their passion for hockey, they have some of the best players in the world. Think about Alex Ovechkin. He is the top goal scorer of all time, and he's not here. So that makes a compelling opportunity for the United States or Canada to stake out their claim as the preeminent hockey power in the world. So it just makes this final even more exciting and compelling that it might have been previously. Set your watches, get your coffee brewing. Tomorrow's final starts at 10 past 8 in the morning Eastern.

And is one of the last events to take place before the closing ceremony of a 2026, Winter Olympic Games. Convierter your passion in a business with Shopify and bathe records of ventas with the form of payment with a better

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