Summary of institutional interpretations after the US Supreme Court overturned tariffs: Has Trump's world collapsed? Refunds are unlikely to be realized this year.

PANews February 21 News, after the IEEPA tariffs were rejected, multiple institutions provided interpretations, with the specific viewpoints summarized as follows:

1. Jefferies: The Supreme Court ruling is favorable for retail, dining, apparel, and other consumer-driven industries.
2. Gabriela Siller, analyst at Banco Base: The US tariff ruling could worsen Mexico’s situation.
3. Economist at the University of Pennsylvania Wharton School’s budget modeling: The Supreme Court decision may trigger over $175 billion in tariff refunds.
4. Jason Pride, head of investment strategy and research at Glenmede: Any potential tariff refunds are unlikely to be realized this year and may be delayed for several years.
5. Jennifer Hillman, professor of international trade law at Georgetown University: Trump’s activation of Section 122 requires declaring “the dollar is about to depreciate significantly” or “serious balance of payments deficits.”
6. Capital Economics: Trump may turn to using Section 122 or Section 338; the amount related to tariff refunds is expected to reach approximately $120 billion, accounting for 0.5% of GDP.
7. ING: Europe should now prepare for more targeted trade tariffs by the US on specific industries, with auto parts and chemicals possibly being the next targets.
8. Former White House official Jon Lang: ASEAN exporters are temporarily relieved, as tariffs are reset to a low level of 10%, and the US will import more goods from these countries during this 150-day temporary window. (Jin10 Data APP)