Trump has other ways to impose tariffs despite US court ruling, Wall Street analysts say

President Trump has several tools at his disposal that he can use to impose tariffs despite a court ruling that ordered the reversal of his hefty “Liberation Day” taxes, two major Wall Street banks said on Thursday.The US Court of International Trade on Wednesday blocked many of Trump’s steepest levies, arguing federal law does not grant him “unbounded authority” to tax imports from nations around the world.His administration immediately filed plans to appeal the decision, which halts 6.7 percentage points of levies.“The tariff levels that we had yesterday are probably going to be the tariff levels that we have tomorrow, because there are so many different authorities the administration can reach into to put it back together,” Michael Zezas, Morgan Stanley’s global head of fixed income and thematic research, told Bloomberg TV on Thursday.Trump’s power to “raise and escalate — it might be a little bit slower moving, but it is still there,” he added.Alec Phillips, chief US political economist at Goldman Sachs, wrote in a note to clients that the ruling “represents a setback for the administration’s tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners.”Negotiations with other countries, like the ongoing talks with Japan, were always likely to take time, according to Zezas.While they continue, the White House would be able to “stitch together that authority on the other tariffs that went away — so all the same leverage is effectively there during the negotiation.”The Trump administration on Thursday signaled it’s unlikely to pursue alternative methods to levy tariffs.“There are different approaches that would take a couple of months,” Kevin Hassett, director of the National Economic Council, said on Fox Business.“But we’re not planning to pursue those right now because we’re very, very confident that this really is incorrect.”One such alternative is the use of ...