SEOUL — 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.
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.”
Mexico braces, adapts
Mexico’s secretary of the economy, Marcelo Ebrard, urged “prudence” Friday in the aftermath of the U.S. Supreme Court ruling. “We have to see where this is going,” Ebrard told reporters. “We have to see what measures [Washington] is going to take to figure out how it is going to affect our country. “
Amid widespread concern about tariffs in Mexico — the United States’ major commercial partner, with almost $1 trillion in annual two-way trade — Ebrard cautioned: “I tell you to put yourselves in zen mode. As tranquil as possible.”
Mexican President Claudia Sheinbaum, when asked about the tariffs, said, “We’ll review the resolution carefully and then gladly 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 stave off Trump’s threats to impose a 25% across-the-board levy on all Mexican imports.
However, Mexico has been pushing back against Trump administration tariffs on imports of vehicles, steel and aluminum, among other products.
Among other impacts, the Supreme Court voided so-called fentanyl tariffs on Mexico, China and Canada. The Trump administration said it imposed those levies to force the three nations to crack down on trafficking of the deadly synthetic opioid.
About 85% of Mexican exports to the United States are exempt from tariffs because of the United States-Mexico-Canada Agreement. The accord extended a mostly free-trade regimen among the three nations, replacing the North American Free Trade Agreement.
The three-way pact is scheduled for joint review starting July 1. That date marks six years since the agreement was signed during the first Trump presidential term.
In Ciudad Juárez, Mexico, along the Texas border, Sergio Bermúdez, head of an industrial parks company, discussed Trump’s plan for a new tariff. Trump, he said, “says a lot of things, and many of them aren’t true. All of the businesses I know are analyzing, trying to figure out how it’s going to affect them.”
The impact could be felt especially in Juarez: Much of its economy depends on factories producing goods to export to consumers in the U.S., the result of decades of free trade between the U.S. and Mexico.
The policy swoons in the United States over the last year have made many global business leaders cautious, as they struggle to forecast and see investment take a hit.
CEO Alan Russell of Tecma, which helps American businesses set up operations in Mexico, has seen his job grow increasingly complicated over the last year — his company’s workload has surged as much as fourfold as it grapples with new import requirements. He worries the last U.S. moves will only make things more difficult.
“We wake up every day with new challenges. That word ‘uncertainty’ has been the greatest enemy,” said Russell, who is American. “The difficult part has been not being clear what the rules are today or what they’re going to be tomorrow.”
A ‘good decision’
Swissmem, a top technology industry association in Switzerland, hailed the Supreme Court ruling as “good decision,” writing on X that its exports to the U.S. fell 18% in the fourth quarter alone — a period when Switzerland was facing much higher U.S. tariffs than most neighboring countries in Europe.
“The high tariffs have severely damaged the tech industry,” Swissmem President Martin Hirzel said on X, while acknowledging the dust is far from settled. “However, today’s ruling doesn’t win anything 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. AP writers María Verza and Fabiola Sánchez in Mexico City, Samuel Petrequin in London and Jamey Keaten in Lyon, France, also contributed.