Form 13F Keenan For: 20 February

Former President Donald Trump announced a new 10% global tariff levy in Washington on February 20, 2026, following the Supreme Court's decision to strike down his previous sweeping trade tariffs, creating significant market uncertainty. The announcement came amid escalating trade tensions and legal challenges to Trump's protectionist economic policies, which have faced numerous judicial reviews since their implementation. Market analysts suggest the new, more moderate tariff approach represents an attempt to find middle ground between free trade principles and the administration's 'America First' economic doctrine, following the Supreme Court's rejection of broader trade restrictions earlier in the month. The financial markets responded positively to the development, with gold and silver prices rising on disappointing economic data and the tariff ruling, while the S&P 500 index snapped a two-week losing streak, closing higher as investors welcomed the more measured approach to trade policy.