U.S. Treasury Secretary Scott Bessent attends a press convention at authorities quarters Rosenbad after the commerce talks between the U.S. and China concluded, in Stockholm, Sweden, July 29, 2025.
Magnus Lejhall | TT | By way of Reuters
Even when the U.S. Supreme Courtroom agrees with a federal appeals courtroom’s ruling that almost all of President Donald Trump’s tariffs are unlawful, it doesn’t suggest the case is closed on these levies.
U.S. Treasury Secretary Scott Bessent reportedly informed Reuters on Monday that there are “different authorities that can be utilized” to uphold the tariffs. One among them may very well be the Smoot-Hawley Tariff Act, Bessent mentioned.
(A curious aspect observe: Smoot-Hawley is described by an article on the U.S. Senate web site as “among the many most catastrophic acts in congressional historical past.”)
Since markets within the U.S. had been closed for the Labor Day vacation on Monday, they did not have an opportunity to answer each Bessent’s remark and the courtroom’s ruling, which was introduced after the bell on Friday.
For now, futures tied to U.S. shares had been little modified Monday evening stateside. Traders might have gotten used to the risky nature of Trump tariffs and are taking a wait-and-see method.
No level, in spite of everything, to organize for an end result that may result in the beginning of one other authorized battle. It is by no means over until it is over — it is simply one other day in Trump’s America.
What you have to know right this moment
Bessent expects the Supreme Courtroom to uphold Trump tariffs. And if they’re struck down by the courtroom, “there are many different authorities that can be utilized,” U.S. Treasury Secretary Scott Bessent mentioned on Monday, Reuters reported.
Trump mentioned India had supplied to take away tariffs on U.S. Nonetheless, he didn’t elaborate on the declare. Trump additionally mentioned Monday that commerce ties with India is “a completely one sided catastrophe!” His feedback got here after Indian Prime Minister Narendra Modi visited China for a safety summit.
Takeaways from the Shanghai Cooperation Group summit. The 2-day occasion was largely seen as a showcase of Beijing’s push for a brand new world order. Key developments embrace: thawing India-China relations, a Xi-Putin-Modi troika, AI partnership and a brand new improvement financial institution.
Asia-Pacific markets commerce blended Tuesday. South Korea’s Kospi index rose round 0.8% because the nation’s inflation in August got here in decrease than anticipated. U.S. inventory futures had been largely flat. On Monday, U.S. markets had been closed for Labor Day.
[PRO] A Chinese language property inventory defying the hunch. The corporate has “already returned extra capital than they ever raised from capital markets,” wrote Barclays — and its inventory has an implied upside of over 40% from the financial institution’s value goal.
And eventually…
Sports activities membership Suzhou Shishan opened the Chinese language metropolis’s first pickleball courtroom in January 2024, in keeping with the corporate.
Suzhou Shishan
Pickleball is simply getting began in China
On-line gross sales of pickleball paddles and associated gear in China have skyrocketed this 12 months to a mean of $1.2 million in month-to-month gross sales as of July — a rise of greater than six-fold versus the year-ago interval, in keeping with information from WPIC Advertising + Applied sciences.
Pickleball’s latest development in China has completely different enterprise implications. In distinction to U.S. suburbs, huge Asian cities do not are inclined to have massive neighborhood areas, mentioned Patrick Yan, founding father of an company representing Asian pickleball gamers. “All these courts need to be constructed by folks operating companies. They’re working for revenue.”
— Evelyn Cheng
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