Other tariff authorities remain intact and available: The decision is narrow—it only blocks tariffs specifically under IEEPA. Tariffs imposed under longstanding trade laws like Section 232 (national security, e.g., on steel, aluminum, or other metals) and Section 301 (unfair trade practices, especially against China) are unaffected and stay in place. Administration officials and analysts have already signaled they plan to pivot quickly to these tools to reimpose similar (or adjusted) duties, keeping much of the trade pressure and revenue stream alive. This avoids a total collapse of his tariff strategy.
In short, this is mostly bad news for the core of his tariff-heavy economic plan, but he retains fallback options that could blunt the impact and allow him to continue aggressive trade policies. If more develops (like a Trump statement or follow-up actions), it could shift the picture to a positive outcome.
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Whereas before Trump was using tariffs lower profit margins to achieve a desired outcome, now he will instead prohibit targeted products leaving no profit whatsoever.
SCOTUS took away President Trump’s flyswatter and encouraged him to use his sniper rifle instead.
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A couple of comments from a poster on another site. It'll be ok - let's not panic.