– The Trump administration’s flagship International Emergency Economic Powers Act (IEEPA) tariffs have been blocked by the US Court of International Trade and then ordered to be left in place by the Court of Appeals for the Federal Circuit, and now face an uncertain appeals process. In the meantime though, Section 232 tariffs and investigations cover 42% of US imports and there is a range of other tariff tools that can be used. The ongoing negotiations with the EU and Japan have been complicated by tariff threats and elections, respectively.
– Sector-level tariffs could rapidly arr...