Dutch stock market gains after U.S. Supreme Court declares Trump tariffs illegal

The AEX index on the Amsterdam Stock Exchange closed higher Friday following a U.S. Supreme Court ruling that declared much of former President Donald Trump’s import tariffs illegal. The court determined that Trump exceeded his authority by imposing tariffs on foreign goods under emergency powers.

The AEX rose 1 percent to 1,017.66 points, while the MidKap fell 0.7 percent to 1,022.02 points. European markets also responded positively, with London, Frankfurt, and Paris gaining up to 1.3 percent.

Trump criticized the decision, calling it a “disgrace,” but said he has a plan B. The White House has indicated it will use other legal mechanisms to maintain the tariffs.

In Amsterdam, chip supplier Besi led the AEX with a 6.7 percent gain, rebounding sharply from losses the previous day. The German investment bank Berenberg raised its price target for the company. Fellow semiconductor firms ASML and ASMI rose up to 1.4 percent.

Chemical distributor IMCD climbed 0.6 percent after announcing the acquisition of Willows Ingredients, a supplier of ingredients for the food and beverage sector serving mainly Ireland and the United Kingdom.

In the MidKap, engineering and consultancy firm Arcadis continued to fall, losing over 7 percent after a nearly 10 percent drop on Thursday following disappointing results. Investment bank KeyBanc removed the stock from its buy list.

Air France-KLM dropped more than 3 percent in the mid-cap segment, reversing a near 12 percent gain from Thursday after the airline reported well-received earnings.