Send us Fan Mail When the U.S. Supreme Court ruled that the Trump administration illegally imposed tariffs under IEEPA, markets reacted fast. But relief quickly gave way to confusion. In this episode, Deborah Elms, Head of Trade Policy at the Singapore-based Hinrich Foundation, explains what happened in the first 72 hours, why some countries now feel blindsided, and how the administration’s pivot to other tariff tools could make this moment more durable, not less. We cover: Who wins and loses...