这周五注定会成为经济史上浓重的一笔。美国最高法院做出了一个标志性的裁决：推翻了唐纳德·特朗 普在过去一年间几乎对所有贸易伙伴征收的多数关税。尽管最高法院的多数席位由特朗普提名的保守派 法官占据，但大法官们在判决书中对总统的越权行为做出了严正的回应。特朗普曾坚称自己拥有几乎不 受限制的单方面征税权，能够自主决定关税的高度、时长和范围。然而，最高法院明确指出，这种所谓 的绝对权力根本不在宪法框架之内，任何行使这种权力都必须获得国会的明确授权。这一判决无疑对行 政权力的扩张做出了强有力的制约，这对于全球来说无疑是一剂振奋人心的强心针。 然而，这并不意味着全球贸易会瞬间回到所谓的特朗普前时代。特朗普很快便宣布了自己的报复性措 施：他打算利用另一项法律条款，针对全球征收10%的普遍关税，试图绕过最高法院判决的法律适用范 围。同时，针对钢铁、汽车等特定产业的关税依然维持不变。某种程度上，新的关税壁垒甚至比旧有的 更为激进。尽管如此，最高法院这一裁决依然具有不可估量的价值。它如同一块坚实的法律基石，修复 了美国制度早已破碎的废墟，也让曾经丧失的制度信任再次回到了公众的视野当中。正是这种稳定性， 才是美国能够开展商业合作、吸 ...

Core Viewpoint - The U.S. Court of Appeals ruled that the tariffs imposed by the Trump administration on China were illegal, exceeding the legal authority granted to the president under the International Emergency Economic Powers Act (IEEPA) [1][5][29] Group 1: Legal and Political Implications - The court emphasized that the IEEPA was intended for addressing "special and extraordinary threats," such as financial sanctions, and not for imposing tariffs, which were deemed outside the scope of the law [5][9] - The ruling undermines Trump's ability to use tariffs as a negotiating tool in trade discussions with China, potentially shifting the balance of power in future negotiations [1][22][29] - The decision reflects a broader political struggle, with the Democratic Party viewing Trump's tariff actions as an overreach of presidential power, leading to legal challenges against his policies [15][17][29] Group 2: Impact on U.S.-China Trade Relations - The ruling may lead to a new phase in U.S.-China trade relations, as it could allow China to negotiate from a stronger position without the pressure of tariffs [22][25][29] - China's response to Trump's tariffs has been characterized by a strategy of maintaining a position of strength, emphasizing that it will not compromise under unequal pressure [25][29] - The potential dismantling of Trump's tariff policies could create favorable conditions for improved trade relations between the U.S. and China, as evidenced by recent high-level negotiations from China [25][29] Group 3: Effects on U.S. Domestic Politics - The ruling has weakened Trump's political leverage within the Republican Party, although he remains a central figure with significant influence [17][29] - The decision may exacerbate existing political tensions in the U.S., as it highlights the ongoing conflict between executive power and legislative authority [15][17][29] - Trump's unilateral approach to tariffs has led to skepticism among traditional U.S. allies, such as Japan, regarding the stability of U.S. trade policies [27][29]