Recent lawsuits are mounting a serious legal challenge against the Trump administration’s tariff authority under the International Emergency Economic Powers Act (IEEPA). According to Washington Analysis, these cases could dramatically reshape U.S. trade policy and market dynamics in the coming months.

CFRA’s Washington Analysis team explains why the latest lawsuits—including filings for a temporary restraining order (TRO) and preliminary injunction—are more credible and legally potent than earlier attempts. With the business community’s potential support and growing economic pressure, the odds of tariff blocks or reductions are climbing.

What You’ll Learn in the Full Report:

• Why the IEEPA-based tariff lawsuits represent the most credible legal threats to date.
• How the “major questions doctrine” and “nondelegation doctrine” could impact the outcome.
• What key upcoming events—like the July 8 tariff extension expiration—mean for investors, businesses, and policymakers.
• Updated probability forecasts: Why Washington Analysis now assigns 50% odds that a legal challenge to Trump’s tariffs will succeed.
• How business group involvement and capital market stress could tip the legal balance.

Key Developments Covered:

• Private businesses across industries—wine, apparel, manufacturing—are citing existential threats to justify injunctions.
• Major law firms and academic experts are backing the new legal arguments.
• The lawsuits strategically focus on legal issues rather than factual national security questions—enhancing their odds in court.
• Tariff risks could reshape not only current policy but also broader economic and market expectations for 2025.

Authors of this Legal Report

Nicholas Rodelli, Head Of Legal Edge Research
Michael Gordon, Vice President, Legal Research & Assistant General Counsel ·

Tariffs have returned to the headlines in 2025, reviving concerns about market disruption and triggering sharp pullbacks. But does history suggest that investors should be worried? In this Lowry Special Report, we look beyond the headlines to what truly matters — the market’s internal strength.

Using proprietary Lowry indicators, this report evaluates the effects of past tariff battles — from the 2002 steel tariffs to the ongoing 2025 tariff escalation — and finds that while short-term volatility is common, long-term trends often remain intact. Investors who relied on the Lowry body of evidence were able to ride out turbulence without derailing long-term positioning.

This timely research offers critical context for today’s market participants. You’ll gain actionable insights into how demand and supply dynamics, not news cycles, have historically dictated market direction. Plus, get a first look at Lowry’s forthcoming Market Health Rating system, designed to help quantify trend strength with greater clarity.

This report is a valuable resource for institutional investors, portfolio managers, and anyone seeking a disciplined, technically grounded perspective during uncertain times.

What You’ll Learn

In this exclusive research report, you will gain insights into:

• How major tariff announcements from 2002, 2014, 2018, and 2025 affected market trends and investor sentiment
• Why Lowry’s technical indicators consistently pointed to sustained trends, despite short-term volatility
• The role of Buying Power, Selling Pressure, breadth, and momentum indicators during past tariff events
• Early insights into Lowry’s evolving market health rating system
• Why disciplined, evidence-based trend analysis can reduce investment anxiety during policy-driven volatility