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2026-02-21 01:00:05
[ING: Trump May Focus on Targeted Tariffs on Specific Industries Following Supreme Court Ruling] In a report to clients, ING economists Carsten Brzeski and Julian Geib wrote that Europe needs to prepare for more targeted US tariffs on specific industries following the Supreme Court's ruling that global tariffs are illegal. The court's ruling found tariffs implemented under emergency powers illegal, directly negating Trump's core tariff policies. However, ING points out that tariffs targeting individual industries such as automobiles and pharmaceuticals are not bound by these emergency powers. The firm believes that auto parts and chemicals are likely to be the next targets. "Europe must face reality," ING stated, "This ruling will not bring about a softening of the trade environment."
