The Supreme Court is currently reviewing the legitimacy of widespread emergency tariffs imposed by the Trump administration in 2025. This decision will determine whether the International Emergency Economic Powers Act continues to grant the executive branch authority over global trade.

"This is extremely important for us in dairy because Mexico is number one -- number one for the cheese market -- and then Canada is actually our number two market," says Cassandra Kuball, vice president at Torrey Advisory Group. "After that, it's China. These are three big dogs that will all have major implications in the trade space."