Senior White House officials downplayed the implications of a court ruling that blocked many of Donald Trump’s tariff measures, and expressed confidence about an appeal. “If anybody thinks this caught the administration by surprise, think again,” the US president’s trade adviser, Peter Navarro, said. “Nothing’s really changed.”
The impact of the court ruling may indeed prove limited, two of Wall Street’s top investment banks cautioned, because other avenues to impose import duties can be taken. Trump’s power to “raise and escalate — it might be a little bit slower moving, but it is still there,” Michael Zezas, global head of fixed income and thematic research at Morgan Stanley, told Bloomberg TV.
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