Supreme Court reins in Trump’s trade powers, reshaping tariff risk for global businesses

• Ease pressure on some import‑dependent sectors whose margins were squeezed by sudden, hard‑to‑price tariff shocks, potentially stabilising demand for trade credit, surety and supply‑chain covers.
• Reduce a layer of legal and regulatory uncertainty that has complicated underwriting for companies heavily exposed to cross‑border trade with Canada, China and Mexico.
• Shift future trade‑policy risk back toward more formal, legislated processes in Congress, giving businesses – and their insurers – more time to adjust to changes.

However, the ruling does not remove broader geopolitical and trade tensions, and other tariffs remain in place under different authorities. Insurers writing political risk, trade disruption, marine cargo and business interruption coverage will still need to account for a volatile global environment – but Friday’s decision may narrow one of the most unpredictable channels for sudden tariff shocks.