Goldman Sachs: The Supreme Court decision will lower the effective tariff rate increase from slightly above 10 percentage points to 9 percentage points since early 2025.

Goldman Sachs economists, including David Mericle, estimate that the Supreme Court's ruling in combination with the newly announced Section 122 tariffs under the Trade Act of 1974 will reduce the effective tariff rate increase from slightly above 10 percentage points to 9 percentage points since early 2025.