US Markets Reopen to Tariff Uncertainty as Bessent Signals Alternative Enforcement
US Markets Reopen to Tariff Uncertainty as Bessent Signals Alternative Enforcement
U.S. financial markets are poised to react today, September 2, 2025, following a long Labor Day weekend, to a federal appeals court’s recent ruling that deemed most of former President Donald Trump’s tariffs illegal. The decision, announced after market close on Friday, August 29, has set the stage for a potential showdown at the U.S. Supreme Court.
Adding another layer of complexity, U.S. Treasury Secretary Scott Bessent indicated on Monday, September 1, that the case for these levies may be far from over. Speaking to Reuters, Bessent stated that there are “other authorities that can be used” to uphold the tariffs, specifically mentioning the controversial Smoot-Hawley Tariff Act. The Act, infamous for its role in exacerbating the Great Depression, could become a new legal battleground if the Supreme Court upholds the appeals court’s decision.
Despite these significant developments, futures tied to U.S. stocks showed little change Monday night stateside, suggesting investors may be taking a cautious, wait-and-see approach, accustomed to the volatile nature of tariff-related news. As markets open today, all eyes will be on how Wall Street digests the latest legal challenge to trade policy and the Treasury Secretary’s resolve to find alternative enforcement mechanisms.
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