President Donald Trump unleashed a tirade of invective and bravado at the Supreme Court after its majority struck down the use of International Emergency Economic Powers Act (IEEPA) tariffs. But in the long run, Chief Justice John Roberts and colleagues did him a favor by opening a door to a comprehensive course-change on the White House’s trade and international economic policy.
The American and international business communities breathed a sigh of relief at the prospect of limiting the arbitrary and capricious invocations of a previously obscure statute, which added costs and investment uncertainty to their business plans. Congress has been given a crutch to regain its lost primacy over trade policy. Meanwhile, the US public is chafing at a weak job market and persistent inflation.