Trump Tariffs Prompt Legal and Economic Fallout

ResearchAndMarkets warned that proposed second‑term U.S. tariff measures — including a 10% global baseline, a reciprocal tariff framework and heavy levies on strategic sectors — have disrupted global supply chains and cut business confidence. Legal and political pushback has followed: a U.S. federal appeals court ruled the most sweeping measures unlawful, a Supreme Court challenge is likely, and the Senate has moved to curb the emergency authorities used to impose many duties. Central banks are factoring in tariff risks: Taiwan’s central bank said tariffs could damage its export‑driven economy and might force monetary policy changes despite strong tech‑led growth, and the Bank of Canada has cut its policy rate twice amid trade disruptions and warned of possible structural damage. Trade hawks such as Robert Lighthizer continue to argue for maintaining substantial tariffs on China even as negotiators discuss partial rollbacks and tech curbs. Former Commerce Secretary Wilbur Ross said Ireland may avoid the worst effects and pointed to Pfizer’s three‑year tariff exemption as a potential template for drug companies.