Tonight, investors worldwide are focusing on the U.S. court's impending decision on whether the "Trump tariffs" will be nullified. This issue is not only legal but directly impacts global trade, capital flows, and the near-term direction of stock markets.
If the scenario reverses, capital currently held back in the U.S. might immediately flow back into Asia. Experts share perspectives on who stands to gain or lose if the court rules against the tariffs, and which stocks are worth "pre-emptive buying," especially amid DELTA's volatility.
Investors worldwide are watching the U.S. Supreme Court's review of the legality of the "customs tariff measures" imposed by former U.S. President Donald Trump to determine if they are lawful.
This case shapes the future flow of funds (Fund Flow) and the global trade environment. A ruling that these measures are unlawful would mark an immediate turning point.
The dispute stems from the Trump administration's use of the IEEPA (International Emergency Economic Powers Act) as justification for imposing customs tariffs. Importers challenged this, arguing that the action exceeded presidential authority and is Congress's jurisdiction.
However, despite a Republican-appointed majority on the Supreme Court, prior hearings showed key conservative justices—including Chief Justice Roberts, Gorsuch, and Barrett—questioned the use of IEEPA for tariff enforcement, expressing deep skepticism.
This has led many to speculate that Trump's tariff policy might be ruled "unlawful." The verdict is expected around 22:00 Thailand time.
Analysts at DAO Securities (Thailand) Public Company Limited see today's stock market in a "wait-and-see" mode pending clarity from tonight's key event.
They view a court ruling invalidating the tariffs as positive for global trade but caution investors that Trump still has other legal avenues—such as Sections 301, 232, or 201—to impose tariffs.
For the Thai stock market, special attention should be paid to volatility in DELTA shares, which heavily influence the market index. After a sharp drop closing at 162 baht, below the Big Lot sale price of 171 baht, DELTA alone dragged the index down by 24 points yesterday.
, Research division of Asia Plus Securities Company Limited offers a viewpoint on Fund Flow, noting a trend where funds have slowed inflows into U.S. stocks but clearly flowed into Asian markets early this year (1–8 Jan 2026), reflecting speculation that the Trump tariffs might be ruled unlawful, as shown by:
If the court annuls the tariffs, significant tax refunds might occur, and several companies have already initiated legal processes to reclaim payments. The research team recommends speculating on stocks affected by the Trump tariff issue, including:
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