How Trump’s protectionist trade regime could survive a U.S. Supreme Court setback

A central pillar of U.S. President Donald Trump’s protectionist trade policy could be struck down early in the new year, but lawyers and trade experts expect the President to rapidly reconstruct his tariff regime using other legal tools while questions remain about whether companies will be able to secure refunds. In November, the U.S. Supreme Court heard a case brought by a group of businesses and U.S. states that are challenging Mr. Trump’s use of the International Emergency Economic Powers Act, or IEEPA, to impose sweeping tariffs. These include the “fentanyl tariffs” imposed on Canada, Mexico and China, and the…