Following a Supreme Court ruling, the U.S. administration is exploring expanded Section 232 tariffs on industrial sectors, potentially increasing costs for batteries and semiconductors while sparking global trade concerns.
Justice Neil Gorsuch's warnings resurface as Congress challenges Trump's use of emergency powers for tariffs. Markets await a Supreme Court ruling on the scope of executive authority under the IEEPA.
Sen. Rand Paul warns tariffs harm US farmers & violate the Constitution's separation of powers. He urges Supreme Court intervention, highlighting the 'Farmageddon' facing soybean farmers due to trade war with China.
Tariff ceasefire with China boosts markets short-term, but China's actions on Nvidia chips create uncertainty. Gold ETFs gain from policy clarity amid geopolitical market intersections.
Trump's EU trade deal, featuring a 15% toll & EU investment, failed to excite the market. Investors are focused on Big Tech earnings & Fed policy amid ongoing trade uncertainty with China, Canada & Mexico.
Economist Justin Wolfers mocks Trump's threat of 100% tariffs on Russia if a Ukraine peace deal isn't reached, citing existing US sanctions rendering the tariff pointless. Russia-Ukraine dispute.
Macron criticizes nations using tariffs as 'blackmail' amid EU-US trade tensions. White House defends tariffs as vital for rebuilding US production before a July 9 deadline. EU warns 'all options' remain open.
Wall Street also recorded losses last week as renewed fears over inflation and trade tariffs eroded risk appetite.
