US Supreme Court Rules Against Trump Tariffs; Administration Pivots to 'Plan B'

The US Supreme Court has issued a significant ruling against the Trump administration's current tariff framework, challenging the executive branch's authority over trade policy. Despite this legal setback, the administration is reportedly moving forward with a 'Plan B' strategy to sustain its aggressive trade agenda. This alternative approach aims to utilize different legal or executive mechanisms to maintain pressure on global trading partners. Market reaction remains mixed as the legal victory for free-trade advocates is offset by the prospect of continued policy uncertainty. Analysts suggest that the shift to an alternative strategy could lead to renewed escalations in trade tensions, particularly affecting major indices like the SPY and DJI. Currency pairs such as USD/CNY and USD/MXN are expected to remain volatile as the administration navigates these legal hurdles.