On Friday, the US Supreme Court ruled that Donald Trump administration’s use of the International Emergency Economic Powers Act to impose broad-based tariffs was unconstitutional.

This week we focus on tariffs following last Friday’s US Supreme Court ruling that the current tariff regime under the International Emergency Economic Powers Act (IEEPA) is unlawful.

2026 has thus far seen geopolitical events, from Venezuela and Iran to Greenland, attracting attention. Headlines about tariffs and questions over the independence of the US Federal Reserve have continued. Still, financial markets remain resilient.