Trade Uncertainty Lingers as U.S. Adapts to Supreme Court Ruling

U.S. Trade Representative Jamieson Greer confirms that despite a Supreme Court ruling nullifying former President Trump's tariffs, no trade agreements with the U.S. are being withdrawn. However, new investigations may impose further tariffs, influencing ongoing trade relations, particularly with the European Union.

The U.S. is navigating a complex trade scenario following a Supreme Court decision that invalidated President Donald Trump's previously imposed tariffs. U.S. Trade Representative Jamieson Greer stated that no countries have opted to exit their trade deals with the U.S. in light of the ruling.

Greer emphasized the need for adapting trade policies, highlighting that new probes potentially leading to additional tariffs have been initiated. This includes Section 301 and Section 232 statutes, targeting unfair practices and excess capacities in countries like Brazil and China, while also considering digital services taxes.

The U.S. and EU remain committed to their agreement, though the European Commission demands clarity on the U.S.'s legal steps forward. Meanwhile, Treasury Secretary Scott Bessent expects tariff revenues to hold steady as new tariffs are anticipated to offset any dropped duties.