I kind of lost hopes on the US and people ruling & managing the country after all the sh!t show since 2020.
Trump levying tarrifs on 185 countries was nothing but a clown show.
No wonder market participants came up with TACO trades and minted money last year.
Anyway, sanity prevails now (even though temporary) after the US Supreme Court strikes down tarrifs on all the countries.
Declaring tarrifs as illegitimate.
And asking the US government to refund the money back to countries from whom tarrifs were illegitimately collected.
This ruling was inevitable.
You cannot tax 185 countries of the world for doing trade with you and get away with it.
Trump being Trump, may try other ways to impose those tarrifs back using other constitutional sections.
But it is clear, the President can’t become a dictator and single handlely levy tariffs without approval of the US Congress.
For now, sanity comes back. One of the major uncertainties is cleared out. And stock market loves when certainty.
