A negative surprise attack, more than 200,000 people lost their positions! US tariffs are reported to be

**Source: Securities Times**  

As the U.S. Federal Appeals Court temporarily reinstates Trump-era tariffs, the Trump team is preparing a "Tariff Plan B," according to U.S. media. Key steps include:  

- **Leveraging Section 122** of the *Trade Act of 1974* (never before used), allowing up to **15% global tariffs within 150 days** to address trade imbalances.  

- **Activating Section 301 investigations** for longer-term tariffs, deemed more legally defensible despite lengthy procedures.  

#### **Key Developments**  

1. **Legal Whiplash**:  

  - May 28: U.S. Court of International Trade (CIT) ruled Trump’s tariffs **illegal** (exceeding authority under IEEPA).  

  - May 29: Federal Appeals Court **temporarily suspended CIT’s ruling**, demanding responses by June 5 (plaintiffs) and June 9 (administration).  

2. **White House’s Countermove**:  

  - Advisors Hassett and Navarro confirmed: "**Tariffs will proceed** via alternative legal tools even if CIT’s ruling stands."  

  - Navarro hinted at invoking the **1930 Smoot-Hawley Act** (allows tariffs against "discriminatory" nations) or expanding national security tariffs.  

  > *"Assume we lose in court—we’ll still impose tariffs. Plan A includes all strategic options."*  

  > — Navarro to media  

3. **Trump’s Social Media Rant**:  

  On Truth Social, Trump:  

  - Called CIT’s ruling "**disastrously wrong and politicized**," urging the Supreme Court to overturn it.  

  - Warned: "Surrendering tariff power to Congress would **destroy the presidency** and cost America **trillions**."  

### **Market Impact**  

- **Crypto Plunge**: Bitcoin (-2%), Ethereum (-4%), XRP (-4%), Solana (-5%), Dogecoin (-10%).  

- **$676M Crypto Liquidations**: 200K+ traders hit within 24hrs; **90% were long positions** (Coinglass data).  

- **Equity Outlook**: S&P 500 expected to reach **6,000 by 2026** (UBS), but trade volatility may limit near-term gains.  

### **Analyst Views**  

| Institution | Assessment |  

|-------------|------------|  

| **Evercore ISI** | "Section 122 enables **15% tariffs within months** if original measures fail." |  

| **UBS Global Wealth** | "CIT ruling complicates tariffs but won’t stop long-term broad levies. S&P may hit **6,400 by mid-2026**." |  

| **Hoffman Burchardi (UBS)** | "S&P at **6,000 appears overstretched**; new highs likely late 2025/2026 amid policy turbulence." |  

### **Full Translation**  

**Headline**: U.S. Tariff "Plan B" Exposed!  

**Subhead**: Federal Appeals Court Temporarily Revives Trump Tariffs as Administration Weighs Unprecedented Legal Tools  

**Body**:  

Amid the Federal Appeals Court’s temporary restoration of Trump-era tariffs, the administration is crafting a "Tariff Plan B," per *Wall Street Journal*. Step 1 considers **Section 122 of the 1974 Trade Act**—an unused clause permitting up to 15% global tariffs within 150 days to rectify trade imbalances. Step 2 involves **Section 301 investigations** for legally resilient tariffs. White House talks remain ongoing, with no final decision.  

On May 29, White House Press Secretary Caroline Levitt blasted CIT’s ruling as "**judicial overreach**," confirming an emergency motion to suspend the decision during appeal. Economic advisor Hassett and trade hawk Navarro vowed tariffs would proceed "**through other laws**" if necessary. Navarro floated the **Smoot-Hawley Act** of 1930 or expanded national security tariffs as alternatives, asserting: "**Plan A encompasses all strategies.**"  

Trump escalated the conflict on Truth Social, denouncing CIT’s "**catastrophic, nation-threatening ruling**" and warning that requiring congressional tariff approval would "**permanently cripple presidential authority**." He insisted tariffs had funneled "**trillions from other nations**" into America, declaring: "**The presidency must defend U.S. sovereignty!**"  

**Market Fallout**: Tariff uncertainty crushed risk appetite, triggering a crypto selloff. Over 24hrs:  

- Bitcoin, Ethereum, XRP, Solana fell 2-5%; Dogecoin plunged ~10%.  

- **$676M in crypto futures liquidated**, affecting 200K+ traders (90% long positions).  

**Institutional Take**:  

- Evercore ISI: Section 122 offers a rapid tariff pathway.  

- UBS: CIT ruling weakens U.S. negotiating leverage but won’t halt broad tariffs long-term. S&P 500 may reach 6,000 by 2026, though current levels seem "**overextended**."  

**Disclaimer**: Views expressed are solely the author’s. This platform neither provides investment advice nor guarantees the accuracy, completeness, originality, or timeliness of this information, and bears no liability for losses incurred therefrom.