Commercial real estate’s collective sigh of relief after the Supreme Court’s decision Friday to strike down a portion of President Donald Trump’s tariffs was swiftly followed with a sharp inhale, as the industry soon realized the protracted trade battle is nowhere near its conclusion. 
The court’s ruling removes tariffs imposed under the International Emergency Economic Powers Act but leaves the administration with several alternative pathways to pursue trade restrictions, including short-term measures already in motion. At the same time, key questions — including whether and how businesses will be refunded for previously collected tariffs — remain unresolved. Together, those developments are bringing…