CNBC Daily Open: Even a Supreme Court ruling might not spell the end of tariffs

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Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today

The U.S. Supreme Court on Wednesday heard a case on the Trump administration’s “reciprocal” tariffs, and both liberal and conservative judges appeared skeptical of the legal basis of those tariffs.

Following the hearing, traders on the prediction market Polymarket think there’s only a 26% chance that Trump’s tariffs will hold, down from roughly 50% a day ago.

Markets rose after the hearing, with major U.S. indexes rebounding from Tuesday’s losses. Still, the end of tariffs wouldn’t be an unequivocal win for stocks.