Gina Smialek

The tariffs that are subject to this ruling are across-the-board tariffs that have applied to a bunch of American trading partners and which were announced early in April on what President Trump called Liberation Day. Those are currently at 10%, but they were set to bounce back to higher rates that were specific by country after a 90-day pause, so in mid-July.

The tariffs that are subject to this ruling are across-the-board tariffs that have applied to a bunch of American trading partners and which were announced early in April on what President Trump called Liberation Day. Those are currently at 10%, but they were set to bounce back to higher rates that were specific by country after a 90-day pause, so in mid-July.

And they've really been sort of the center of negotiations. This is the thing that Trump is negotiating with countries across the world about.

And they've really been sort of the center of negotiations. This is the thing that Trump is negotiating with countries across the world about.

Well, this really damages President Trump's ability to do the kind of negotiating that he tends to prefer to do and which he has very much been doing throughout this trade war. So what we've seen him do repeatedly is kind of art of the deal, unpredictable style of negotiation, where he announces really big tariffs on trading partners and then rapidly takes them off and then threatens them again.

Well, this really damages President Trump's ability to do the kind of negotiating that he tends to prefer to do and which he has very much been doing throughout this trade war. So what we've seen him do repeatedly is kind of art of the deal, unpredictable style of negotiation, where he announces really big tariffs on trading partners and then rapidly takes them off and then threatens them again.

And so it's been this sort of, you know, you get a tariff, you get a tariff. approach of trying to keep everybody on their back foot. And he's been doing that unilaterally, sort of King Trump style, not passing it through Congress, not taking the time to do some big investigation. And he's been able to do it very quickly and very nimbly because of this creative use of this law.

And so it's been this sort of, you know, you get a tariff, you get a tariff. approach of trying to keep everybody on their back foot. And he's been doing that unilaterally, sort of King Trump style, not passing it through Congress, not taking the time to do some big investigation. And he's been able to do it very quickly and very nimbly because of this creative use of this law.

And now suddenly it seems like that might be off the table. Although I think it would be premature to say that this is the end of the trade war. I've been talking to a lot of people today who are very nervous about what happens next. I think the word of the day is probably chaos.

And now suddenly it seems like that might be off the table. Although I think it would be premature to say that this is the end of the trade war. I've been talking to a lot of people today who are very nervous about what happens next. I think the word of the day is probably chaos.

And, you know, I think there are a lot of questions about whether there's actually potentially a risk that this actually provokes the Trump administration to do something even more drastic.

And, you know, I think there are a lot of questions about whether there's actually potentially a risk that this actually provokes the Trump administration to do something even more drastic.

So the most obvious option that they have is try to get the ruling overturned. And we've already seen some action there. They've applied for and then been granted a stay pretty quickly after the ruling. So legally, we're now in this sort of wait-and-see moment where it's clear that the tariff block is not going to take effect at least immediately.

So the most obvious option that they have is try to get the ruling overturned. And we've already seen some action there. They've applied for and then been granted a stay pretty quickly after the ruling. So legally, we're now in this sort of wait-and-see moment where it's clear that the tariff block is not going to take effect at least immediately.

And it's very clear that the Trump administration is... going to really try and get this overturned in court, and it could even end up being escalated to the Supreme Court potentially. So clearly there are some legal options here. And then I think the second bucket of options is what they can do on the trade front.

And it's very clear that the Trump administration is... going to really try and get this overturned in court, and it could even end up being escalated to the Supreme Court potentially. So clearly there are some legal options here. And then I think the second bucket of options is what they can do on the trade front.

And one option there is that they could use another provision in trade law to apply some tariffs up to 15% on trading partners for 150 days. And after that, they'd have to take it to Congress. But there is a period here where the Trump administration could do that without congressional approval.

And one option there is that they could use another provision in trade law to apply some tariffs up to 15% on trading partners for 150 days. And after that, they'd have to take it to Congress. But there is a period here where the Trump administration could do that without congressional approval.

I think people think it's possible that he'll do the 150-day version of this. I think people think it's a little less likely that he's going to try to get something through Congress because while that would put this on very solid legal footing, it also means you have to get it through Congress.

I think people think it's possible that he'll do the 150-day version of this. I think people think it's a little less likely that he's going to try to get something through Congress because while that would put this on very solid legal footing, it also means you have to get it through Congress.