NEWS ANALYSIS. Many American economic analysts believe the chaotic introduction of punitive tariffs last spring now seems to be giving way to a new world order, in which tariff barriers of 10% to 15%, unthinkable just a year ago, have become the norm and are allowing the US Treasury to rake in billions of dollars.

The investment bank thinks a 9-0 ruling against Trump is likely. That doesn't mean the tariffs will just go away.

"The hurdle for the US to experience genuine capital flight is high and certainly wasn’t breached in April."