After months of volatility driven by President Trump’s tariff policies, global trade tensions appear to be easing. The sweeping “Liberty Day” duties introduced earlier this year have been softened through deals with the UK, EU, and other major partners.

The biggest shift has come in the US-China relationship. What once looked like a deepening trade war is now paused for another 90 days, giving negotiators more time to seek compromise.

Still, not all countries have benefitted. Imports from Brazil and India remain subject to 50% tariffs, even as the broader trade climate shows signs of stabilising.

However, that stability may prove temporary.

A pending decision from the US Court of Appeals could upend Trump’s tariff program altogether. Earlier in May, the US Court of International Trade ruled that Trump overstepped his authority by using emergency powers to impose tariffs without congressional approval. The administration appealed, keeping the measures in place for now.

The appeal was heard on July 31st, with a ruling expected by the end of September, perhaps even this month. A decisive, especially unanimous, rejection could eliminate any chance of Supreme Court review – effectively dismantling all tariffs and deals introduced this year.

While Trump could attempt to revive them through Congress, the political hurdles would be steep.

This upcoming court decision could reshape global supply chains, pricing strategies, and trade flows. Many industry observers, including the team at MultiFreight, are watching closely for a decision that may have a significant impact on global trade.