Odaily News John Higgins, an analyst at Capital Economics, pointed out in a report that even if the U.S. International Trade Court ruled that most of President Trump's tariffs were invalid, the trade environment for stocks and commodities is still full of volatility and uncertainty. Higgins said that the stock market reacted flatly to the ruling of the International Trade Court - the market has already incorporated the risk premium of Trump's tariff policy into the pricing. He added that as long as traders are still questioning the effectiveness of the tariff policy, the possibility of a sharp interest rate cut by the Federal Reserve is very small. In addition, the agreements that the United States has reached with other trading partners are also facing uncertainty. (Jinshi)