Nations, firms gird for U.S. tariffs’ latest swing

Governments and companies around the world scrambled Saturday to determine the impact of the U.S. Supreme Court ruling that struck down most of President Trump's sweeping tariffs and his response with a new round of import taxes.

- TIMES STAFF AND WIRE REPORTS

MARCELO EBRARD, Mexico's secretary of the economy, urged "prudence."

(LUIS BARRON Sipa USA)

The latest twist in the U.S. tariff roller-coaster ride, launched when Trump returned to office 13 months ago and upended dozens of trading relationships with the world’s biggest economy, roiled trade officials from Mexico to South Korea to South America and beyond.

South Korea’s Trade Ministry called for an emergency meeting Saturday to understand the new landscape. Some specific exports to the U.S., like automobiles and steel, aren't affected by the U.S. high court decision. Those that are affected will probably now be covered by a new tariff imposed by an executive order Trump signed Friday. Trump announced Saturday morning that he would raise that 10% tariff to 15%.

In Paris, French President Emmanuel Macron hailed the checks and balances in the United States, praising the “rule of law” during a visit to a Paris agricultural fair: “It’s a good thing to have powers and counter-powers in democracies. We should welcome that.”

But he cautioned against any triumphalism.

Officials were going over the language of bilateral or multilateral deals struck with the U.S. in recent months, even as they braced for new swings and Trump's swift announcement of new tariffs.

“I note that President Trump, a few hours ago, said he had reworked some measures to introduce new tariffs, more limited ones, but applying to everyone,” Macron said. “So we'll look closely at the exact consequences, what can be done, and we will adapt.”