Overview
- The U.S. Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act on Friday.
- Within hours, President Donald Trump signed an executive order for a temporary 10 percent global tariff under a different legal authority.
- The administration kept existing sector-specific duties in place, leaving many trade costs unchanged for key goods.
- Speaking at the Paris International Agricultural Show, Emmanuel Macron cautioned against quick celebration, praised checks and balances, and pressed for reciprocity in trade rules.
- The European Commission welcomed the legal check yet urged predictable transatlantic conditions as France flagged risks to agriculture, food products, luxury goods, and aeronautics.