Goldman Sachs has projected a potential easing of tariff policies by 2026, driven by political and legal pressures. Analyst Alec Phillips highlighted that as Democrats gain influence and courts challenge tariffs under the International Emergency Economic Powers Act (IEEPA), regulatory shifts could reduce trade barriers. The firm anticipates a two-point drop in effective tariff rates by the end of the year, which may impact liquidity and the cryptocurrency markets. Additionally, weak job growth and rising unemployment are contributing to the pressure for policy changes.