Trump loses favorite negotiating tool he touted to make peace and money

Washington Post: In anticipation of the ruling, White House officials acknowledged that losing would be a psychological and rhetorical defeat for one of Trump’s signature initiatives. At the same time, they said, the ruling would remove an unpopular and divisive issue within Trump’s coalition and reassure investors and businesses concerned that the tariffs contribute to inflation — a potential political gift.

Trump opted not to take that off-ramp on Friday. Instead, he announced an immediate 10 percent global tariff under a different legal authority and warned that more drastic measures could follow…