SEOUL— Governments and businesses 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.
The latest twist in the U.S. tariff roller coaster, launched when Trump returned to power 13 months ago and upended dozens of trade relationships with the world's largest economy, has infuriated trade officials from Mexico to South Korea, South America and beyond.
South Korea's Commerce Ministry called an emergency meeting on Saturday to understand the new landscape. Some specific exports to the United States, such as automobiles and steel, are not affected by the US high court's decision. Those affected will likely now be covered by a new tariff imposed by an executive order Trump signed on Friday. Trump announced Saturday morning that he would increase that tariff from 10% to 15%.
In Paris, French President Emmanuel Macron praised checks and balances in the United States and praised the “rule of law” during a visit to a Paris agricultural fair: “It's good to have powers and counterpowers in democracies. We should welcome that.”
But he warned against any triumphalism.
Officials were reviewing the language of bilateral or multilateral agreements reached with the United States in recent months, even as they prepared for new changes and Trump's quick announcement of new tariffs.
“I note that President Trump, a few hours ago, said that he had reviewed some measures to introduce new tariffs, more limited, but which apply to everyone,” Macron said. “So we will look closely at the exact consequences, what can be done, and we will adapt.”
Mexico prepares and adapts
Mexico's Secretary of Economy, Marcelo Ebrard, urged “prudence” on Friday following the ruling of the United States Supreme Court. “We have to see where this goes,” Ebrard told reporters. “We have to see what measures [Washington] It's going to take to determine how it's going to affect our country. “
Amid widespread concern about tariffs in Mexico (the United States' main trading partner, with almost $1 trillion in annual bilateral trade), Ebrard warned: “I tell them to go into Zen mode. As calm as possible.”
When Mexican President Claudia Sheinbaum was asked about the tariffs, she said: “We will review the resolution carefully and then we will be happy to give our opinion.”
Ebrard said he plans to travel to the United States next week to clarify matters.
Last year, Ebrard noted, Mexico managed to avoid Trump's threats to impose a general 25% tax on all Mexican imports.
However, Mexico has been rejecting the Trump administration's tariffs on imports of vehicles, steel and aluminum, among other products.
Among other impacts, the Supreme Court struck down so-called fentanyl tariffs on Mexico, China and Canada. The Trump administration said it imposed those taxes to force the three nations to crack down on trafficking in the deadly synthetic opioid.
Around 85% of Mexican exports to the United States are exempt from tariffs thanks to the United States-Mexico-Canada Agreement. The agreement expanded a largely free trade regime between the three nations, replacing the North American Free Trade Agreement.
The tripartite pact is scheduled for a joint review starting July 1. That date marks six years since the agreement was signed during Trump's first presidential term.
In Ciudad Juárez, Mexico, along the border with Texas, Sergio Bermúdez, director of an industrial park company, discussed Trump's plan for a new tariff. Trump, he said, “says a lot of things, and a lot of them are not true. Every company I know is analyzing, trying to figure out how it's going to affect them.”
The impact could be especially felt in Juárez: Much of its economy depends on factories that produce goods for export to consumers in the United States, the result of decades of free trade between the United States and Mexico.
Policy swoons in the United States over the past year have made many global business leaders cautious as they struggle to forecast and see how investment will be affected.
Alan Russell, CEO of Tecma, which helps American companies set up operations in Mexico, has seen his job become increasingly complicated over the past year: His company's workload has quadrupled as it grapples with new import requirements. He worries that the latest US measures will only make things more difficult.
“We wake up every day to new challenges. That word 'uncertainty' has been the biggest enemy,” said Russell, who is American. “The difficult part has been not being clear about what the rules are today or what they will be tomorrow.”
A 'good decision'
Swissmem, one of Switzerland's main tech industry associations, praised the Supreme Court ruling as a “good decision” and wrote in
“High tariffs have severely damaged the tech industry,” Swissmem President Martin Hirzel said in X, although he acknowledged that the dust is far from settling. “However, today's ruling means nothing yet.”
Times staff writer Patrick J. McDonnell in Mexico City contributed to this report, as did Associated Press writers Tong-Hyung Kim in Seoul and Megan Janetsky in Mexico City. Also contributing were AP journalists María Verza and Fabiola Sánchez in Mexico City, Samuel Petrequin in London and Jamey Keaten in Lyon, France.
