Goldman Sachs Group Inc’s Alec Phillips wrote in a note to clients late Wednesday that “this ruling represents a setback for the administration’s tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners.”
Two of Wall Street’s top investment banks cautioned that the impact of a court ruling striking down many of President Donald Trump’s tariff measures may prove limited, given that the administration has other avenues to impose import duties.
“The tariff levels that we had yesterday are probably going to be the tariff levels that we have tomorrow, because there are so many different authorities the administration can reach into to put it back together,” Michael Zezas, Morgan Stanley’s global head of fixed income and thematic research, said on Bloomberg TV Thursday.
