'No coherent plan.' Trump admin. quietly softens some tariffs as SCOTUS case looms

Tariffs and Trade Policy - The Trump administration is reportedly backing away from many tariffs, exempting products that cannot be produced in the US [2] - The administration's tariff policies are being defended despite arguments that tariffs are taxes, contradicting the Constitution [7][8] - The president's ability to unilaterally set tariffs is being challenged, raising concerns about potential abuse of power [10] Argentina Bailout and Trade Implications - A $20 billion bailout of Argentina has not prevented the peso from falling to new lows, raising concerns about taxpayer exposure [11][15] - Argentina's efforts to reduce inflation by making imports cheaper are collapsing, highlighting the difficulty of fixing the country's economic problems with a temporary lifeline [13][14] - The president's promise to buy more beef from Argentina is angering American ranchers, especially with beef prices already high [15][16] - China has ceased buying soybeans from the US in September, while the US is considering buying beef from Argentina, creating a complex and ironic trade situation [17] Rare Earth Minerals - The US and Australia have struck a deal on rare earth minerals, a move to diversify supply away from China [19] - The industry is late to the party in securing rare earth mineral supplies and processing capacity, despite discussing the issue since 2017 [20][22][23] - There are concerns about China's control over rare earth minerals and its efforts to lock up supplies globally [22]