Cabot Phillips

All right, now on the economic front, the Trump administration was dealt some potentially significant blows in court this week. What's going on there?

All right, now on the economic front, the Trump administration was dealt some potentially significant blows in court this week. What's going on there?

So two parts here. First, on Wednesday night, a three-judge panel from the U.S. Court of International Trade struck down dozens of President Trump's tariffs on countries worldwide. Remember, Trump invoked the Emergency Economic Powers Act to implement those tariffs and He argued that fentanyl trafficking and trade deficits constituted a national emergency, and therefore he had power to act.

So two parts here. First, on Wednesday night, a three-judge panel from the U.S. Court of International Trade struck down dozens of President Trump's tariffs on countries worldwide. Remember, Trump invoked the Emergency Economic Powers Act to implement those tariffs and He argued that fentanyl trafficking and trade deficits constituted a national emergency, and therefore he had power to act.

But the court ruled that Trump, quote, exceeded any authority granted to the president by that Emergency Powers Act. So then Thursday morning, a second federal court in D.C. issued a similar ruling, again saying Trump's tariffs were unlawful. Now, that first ruling was put on hold Thursday afternoon by a federal appeals court.

But the court ruled that Trump, quote, exceeded any authority granted to the president by that Emergency Powers Act. So then Thursday morning, a second federal court in D.C. issued a similar ruling, again saying Trump's tariffs were unlawful. Now, that first ruling was put on hold Thursday afternoon by a federal appeals court.

They ruled in Trump's favor, saying that all tariffs can remain in place while the court reviews the case. Regardless of how they ruled out, the Trump administration says they are not slowing down. They called the rulings a hiccup. Here's White House economic advisor Kevin Hassett making that case.

They ruled in Trump's favor, saying that all tariffs can remain in place while the court reviews the case. Regardless of how they ruled out, the Trump administration says they are not slowing down. They called the rulings a hiccup. Here's White House economic advisor Kevin Hassett making that case.

So the administration is still pushing ahead on tariffs. Feel very confident about that still. They're also very confident about revoking student visas. Tell us more about that.

So the administration is still pushing ahead on tariffs. Feel very confident about that still. They're also very confident about revoking student visas. Tell us more about that.

Yeah, big move here. Secretary of State Marco Rubio announcing this week that the administration will work to, quote, aggressively revoke the visas of Chinese exchange students who they deem to have ties with the Communist Party, as well as those studying in, quote, critical fields. Keep in mind, Chinese students account for about 20% of all student visas.

Yeah, big move here. Secretary of State Marco Rubio announcing this week that the administration will work to, quote, aggressively revoke the visas of Chinese exchange students who they deem to have ties with the Communist Party, as well as those studying in, quote, critical fields. Keep in mind, Chinese students account for about 20% of all student visas.

The State Department has been warning for years now that many of those students work with the CCP to smuggle sensitive research data and other intellectual property back to Beijing. In response, China said, quote, this political and discriminatory practice of the U.S. has exposed the lies of the so-called freedom and openness that the U.S. has always advertised.

The State Department has been warning for years now that many of those students work with the CCP to smuggle sensitive research data and other intellectual property back to Beijing. In response, China said, quote, this political and discriminatory practice of the U.S. has exposed the lies of the so-called freedom and openness that the U.S. has always advertised.

Rubio, though, says we will also create a new process to enhance scrutiny on all future applications on Chinese students. So they're really cracking down on the CCP.

Rubio, though, says we will also create a new process to enhance scrutiny on all future applications on Chinese students. So they're really cracking down on the CCP.

Yeah, they clearly are. Now, one big piece of news before you go from the administration, a major departure. What's happening there?

Yeah, they clearly are. Now, one big piece of news before you go from the administration, a major departure. What's happening there?

Yeah, Elon Musk announcing that he will be leaving his role at the Department of Government Efficiency to focus on his many, many business endeavors. Musk helped carry out Trump's campaign pledge to cut back the bureaucracy in Washington. He slashed tens of thousands of government jobs during his short tenure.

Yeah, Elon Musk announcing that he will be leaving his role at the Department of Government Efficiency to focus on his many, many business endeavors. Musk helped carry out Trump's campaign pledge to cut back the bureaucracy in Washington. He slashed tens of thousands of government jobs during his short tenure.