Some Comments from those who seem to be in the know

Goldman Sachs

The administration is not bluffing about a Plan B. They can instantly trigger Section 122 of the Trade Act to slap a temporary 15% tariff on imports for 150 days. That buys them the exact window needed to launch permanent Section 301 tariffs. The legal justification changed, but the trade taxes are staying.

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The other part is Trump has already signed agreements with many countries, so those tariffs are locked in.

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Kavanaugh’s dissent is the roadmap for future tariffs listing statutes from the Trade Expansion Act of 1962, the Trade Act of 1974, and the Tariff Act of 1930.

“In essence, the Court today concluded that the President checked the wrong statutory box by relying on IEEPA, rather than another statute to impose these tariffs.”

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LOOKS LIKE THIS IS A GREAT BIG NOTHING BURGER AS FAR AS THE MARKETS ARE CONCERNED