The Globe and Mail reports in its Friday edition that a U.S. court ruling that slammed the door on most of President Donald Trump's tariffs dangled a reprieve from trade chaos for Canadian exporters before it was temporarily paused by another court. The Globe's Jason Kirby writes that experts warn a new wave of even greater uncertainty could be unleashed, depending on how the legal tussle unfolds. The initial ruling by the U.S. Court of International Trade on Wednesday struck down the Trump administration's "Liberation Day" tariffs against more than 50 countries, along with tariffs Mr. Trump imposed on Canada, Mexico and China that were tied to fentanyl and border security. Less than 24 hours later an appeals court granted the Trump administration's request to pause the lower court's ruling while it considers a challenge. "If this ruling sticks and depending upon the course of actions from here, then the risk of recession in the U.S. and Canada has been sharply reduced," wrote Derek Holt, an economist at Bank of Nova Scotia, in a Thursday note. Mr. Holt warns of "a game of Tariff Whack-a-Mole" in which Mr. Trump shifts the tactics he uses to impose tariffs, only for other court rulings to shut those down, Mr. Holt said.
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