China is the biggest winner from the US court ruling against emergency tariffs
The US Supreme Court’s ruling has once again sent shockwaves through uncharted geopolitical uncertainties, but it can still be too early to cheer for a world with lower tariffs. What matters for China is the narrowing of the tariff gap with peers, which can give it greater advantages. For other markets, the reduced gap now raises the question of whether such a commitment is worthwhile and the potential benefits.In the new scenario, China will be the biggest beneficiary as the effective US tariff rate will fall by 15.6% (from 36.8% to 21.2%). With the Section 122 measure, the reduction is still...