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Trump admin warns it'll take tariffs case to Supreme Court as soon as Friday following sweeping ruling

1. Trump administration seeks Supreme Court relief on tariffs ruling. 2. Federal court blocked 6.7% tariffs, citing lack of executive authority. 3. Tariffs on steel, aluminum, and cars may remain unaffected. 4. Goldman Sachs expects tariff revenue to continue despite court ruling. 5. Uncertainty may rise, impacting S&P 500 sentiment and market stability.

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FAQ

Why Neutral?

The court ruling raises uncertainty but does not significantly alter tariff revenues, reflecting a historical precedent where legal challenges to tariffs have had limited immediate impact on stock markets.

How important is it?

The ongoing tariff situation affects broader economic conditions, which can sway investor sentiment, thus influencing S&P 500.

Why Short Term?

Changes in tariff policies often influence market sentiment quickly, especially amid ongoing legal battles. Historical instances showed short-term fluctuations without lasting effects.

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