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The Supreme Court’s Tariff Ruling Changes Little
The US Supreme Court’s ruling on Donald Trump’s tariffs may modify the legal facade of US trade policy, as well as produce a brief surge of imports into the United States. But, ultimately, it is unlikely to reduce the overall height or significantly alter the country composition of US trade barriers.
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NEW YORK – The US Supreme Court’s rejection of Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose country-specific tariffs has generated an explosion of headlines and rabid denunciations from the president himself. But the ruling’s economic impact on other countries and world trade is likely to be limited.