Lates News

Goldman Sachs analysts said that seeking to block a court ruling against Trump's trade agenda on "Liberation Day" tariffs is just a temporary setback and can be offset by other taxes. The bank's economists wrote in a report to clients on Thursday that the ruling by the U.S. Court of International Trade to halt tariffs on 6.7% of imports this year could be countered with other tariff tools by the White House. "This ruling is a setback for the government's tariff plans, adding uncertainty but may not change the ultimate outcome faced by most of America's major trading partners," wrote Alec Phillips, Goldman's chief U.S. political economist. "At present, we expect the Trump administration to seek other ways to impose tariffs." Alternative options include using Section 232 to levy tariffs on imports of steel, aluminum, and cars, citing national security reasons. The report noted that if all pending investigations lead to a 25% tariff and are added to existing tariffs under this provision, it could increase the tariff rate by 7.6 percentage points.