Is US President Donald Trump’s tariff tangle troubling you? One court just ruled against them (again). Another preserved them while Trump appeals. These gyrations become irrelevant when it all expires legally in July.But Trump promises replacements – like his threatened 100 per centcharge on Australian drug imports – that will sow more chaos. To see through the fog, think like stocks do. They learnt long ago to tune out tariff noise, and their initial 2025 panic was eased by “four Es”: expectations, exemptions, evasion, and enforceability.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles