Trump tariffs fightback is too little too late for US: deVere

The fight to rollback Trump’s tariffs, his signature economic policy has begun, but it’s likely too little too late as a new economic world order is already emerging, warns the CEO of one of the world’s largest independent financial advisory organizations.

The warning from Nigel Green of deVere Group comes as pressure builds simultaneously in Congress and the courts against President Donald Trump’s expansive tariff regime.

The US House of Representatives on Wednesday voted 219 to 211 to rescind tariffs on Canadian goods, with six Republicans joining Democrats in backing the resolution.

At the same time, the US Supreme Court is considering a case that questions the scope of the president’s authority to impose sweeping levies under emergency economic powers statutes.

The Senate, where Republicans hold a slim majority, is now the next legislative hurdle, while the 2026 midterm elections loom as a potential political inflection point.

Nigel Green says: “Opposition to President Trump’s flagship tariff strategy is moving through the courts, it’s being tested in Congress, and it’s beginning to shape the electoral conversation.

“However, global trade flows are adjusting faster than US political institutions can respond.”

President Donald Trump has placed tariffs at the core of his economic doctrine, framing them as instruments of economic and national security.

Since his re-election, he has expanded and reinforced levies on key trading partners, including Canada, and has recently threatened a 100% import tax in response to Ottawa’s proposed trade agreement with China.

During yesterday’s House vote, he warned that Republicans opposing tariffs would face consequences at election time, underscoring the policy’s centrality within his administration.

Nigel Green comments: “Trade has become a defining pillar of the administration’s economic stance, which makes reversal politically complex, even where there’s evidence of domestic strain.”

The Supreme Court’s forthcoming ruling could prove structurally significant. At issue is whether the executive branch has exceeded its statutory authority in deploying emergency powers to justify broad-based tariffs.

A decision that narrows presidential discretion would alter the long-term framework for US trade policy. Yet even a consequential ruling would arrive after months of legal deliberation, during which global commercial actors continue to adapt.

In parallel, the House vote represents the first formal congressional attempt in this term to unwind a specific tranche of tariffs.

Even if the measure were to clear the Senate, which remains uncertain, it would require presidential approval. Legislative resistance therefore carries more political than immediate economic weight at this stage.

Nigel Green explains: “Institutional pushback is gaining visibility. Legal scrutiny, congressional votes, and midterm positioning all matter.

“However, global supply chains, capital allocation and bilateral agreements between other trading countries evolve continuously.

“International partners aren’t waiting for Washington to resolve its internal debate.”

He continues: “Canada has accelerated deepening engagement within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and strengthening economic cooperation with the EU in areas such as energy and critical minerals.

“Mexico is reinforcing industrial linkages across Latin America and Asia while protecting regional manufacturing competitiveness.

“Brazil has expanded agricultural exports to China, particularly in soybeans and protein markets historically exposed to US-China trade friction.

“Across Asia, the Regional Comprehensive Economic Partnership continues to consolidate intra-regional trade integration, forming the largest trade bloc globally by GDP share.

“The EU is advancing strategic autonomy in semiconductors, green industry inputs and critical supply chains.

“In parts of the Middle East, energy transactions are increasingly structured through diversified currency arrangements in bilateral trade, reducing exclusive reliance on US channels in selected cases.

“None of these developments displace the United States from the centre of global commerce. However, each incremental shift reduces dependence on America.”

Domestically, critics argue that tariffs are filtering through to higher input costs for manufacturers and farmers, as well as elevated prices for certain imported goods. With Republicans holding narrow majorities in both chambers, the 2026 midterms could amplify scrutiny if economic pressures persist.

Nigel Green concludes: “Judicial outcomes, Senate arithmetic and electoral cycles operate on fixed timetables. International trade realignment does not.

“By the time US institutions determine the limits of Trump’s tariff authority, a considerable portion of global commerce may already be structurally less reliant on the United States

“The fight to rollback Trump’s tariffs seems likely to be too little too late as a new economic world order is already emerging.”

About deVere Group

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.