We report results from Chandra observations of the X-ray jet of 3C 273 during the calibration phase in 2000 January. The zeroth-order images and spectra from two 40 ks exposures with the High-Energy Transmission Grating and Low-Energy Transmission Grating + Advanced CCD Imaging Spectrometer-S show a complex X-ray structure. The brightest optical knots are detected and resolved in the 0.2-8 keV energy band. The X-ray morphology tracks well the optical. However, while the X-ray brightness decreases along the jet, the outer parts of the jet tend to be increasingly bright with increasing wavelength. The spectral energy distributions of four selected regions can best be explained by the inverse Compton scattering of (beamed) cosmic microwave background photons. The model parameters are compatible with equipartition and a moderate Doppler factor, which is consistent with the one-sidedness of the jet. Alternative models either imply implausible physical conditions and energetics (the synchrotron self-Compton model) or are sufficiently ad hoc to be unconstrained by the present data (synchrotron radiation from a spatially or temporally distinct particle population).