ING: US Tariff War Not Ended by Ruling, Trump to Focus on Industry Tariffs

Jinse Finance reported that ING economists Carsten Brzeski and Julien Gypen wrote in a client report that after the U.S. Supreme Court ruled global tariffs illegal, Europe should now prepare for the U.S. to impose more targeted trade tariffs on specific industries. The court ruled that tariffs imposed under emergency powers were not legal, which is a rebuke to Trump’s signature tariff policy. However, ING stated that tariffs imposed on individual sectors such as automobiles and pharmaceuticals are not subject to these powers. ING indicated that auto parts and chemicals could be the next targets. “Europe should not be mistaken,” the bank said, “this ruling will not bring relief.”