Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, May 29th, and I'm your host, Kim Khan. Our top story so far.

You heard on Wall Street breakfast this morning about the trade court ruling against the White House's April tariffs imposed using the International Emergency Economic Powers Act of 1977.

But Goldman Sachs, Chief U.S. political economist Alex Phillips, says there are four ways for the

administration to impose similar tariffs, regardless of how an appeal turns out.

Number one, the administration could quickly replace the 10% across-the-board tariff

with a similar tariff of up to 15% under Section 122.

Those tariffs would last for only up to 150 days, after which the law requires congressional action to extend.

The law is not clear on whether those tariffs can stop and restart, Philip says,

but it authorizes the president to address a balance of payments deficit or to prevent an

imminent and significant depreciation in the dollar, but it does not require any formal

investigation or process, so the administration could theoretically replace the current 10%

tariff with a Section 122-based tariff within days if deemed necessary.

Number two, the U.S. Trade Representative could quickly launch Section 301 investigations

on key trading partners for unfair trading practices, laying the procedural groundwork for tariffs

after the investigation is complete. There was no level on duration of the tariffs,

but investigations would likely

take several weeks, he said. Number three, Section 232 tariffs, based on national security grounds,

which President Trump has already used for steel, aluminum, and autos, could be broadened to cover

other sectors. We already expect additional sectoral tariffs, pharmaceuticals, semiconductors, and

electronics, etc., and uncertainty regarding the IEPA sectoral tariffs, pharmaceuticals, semiconductors, and electronics,

etc., and uncertainty regarding the IEEPA-based tariffs could lead the White House to put

...