Brian Stewart

Yeah, no, I agree with that.

I mean, yeah, you're sort of dealing with the reality and the perception of reality.

And that's always a tension that comes up in stock trading, right?

But I do think there are times when that becomes more apparent or at least more primed to have a material impact on stock prices.

And we might be entering one of those situations.

Just as we were starting to record, the Supreme Court ruled that the bulk of Trump's tariffs are illegal under the emergency economic act that he used to do.

I don't remember the name of the act off the top of my head.

Exactly right.

It's like the IEE something P. Anyway.

So there's a lot to still be sort of figured out.

There's been some chatter sort of after the ruling.

Does this mean refunds are coming or is the government going to send money back to the companies who paid these tariffs if the tariffs have been in place for a year now are now illegal?

What is that going to look like?

What process is that going to take?

Another situation is the Supreme Court ruling was sort of narrowly related to this particular law, saying that the law itself didn't justify the tariffs.

And I believe this was in the dissent from Kavanaugh.

He he noted that the administration might just move to a different justification for the tariffs.

So I'm sure lawyers at the White House are are huddled together right now just kind of discussing whether or not there's another way to implement these tariffs under a different.

rubric that would be considered constitutional by the Supreme Court.

So it kind of remains to be seen.