Gavin Bade

But I do think you'll find that they're not going to be quite as aggressive as they were before.

And yeah, there may be a few more holes in this tariff regime as they try to reconstitute it.

Using IEPA for tariffs was really a silver bullet for the Trump administration.

It allowed them to impose these things at a drop of a hat.

It allowed them really unilateral authority over access to the U.S.

market, which is just such a prized thing for every country in the world, right?

And so I'm going to be very interested to see not just how they react economically, but

But how do they react to having their power constrained in a very big way?

How do they react to an outside institution saying, you can't do that.

Your power is actually constrained.

I think it's going to be very interesting, and I don't think it will make them recede.

I'll just be interested to see how they do that.

Yes.

Notably, Trump's tariffs on individual industries.

Those are like the tariffs on steel and aluminum, on cars and car parts, on trucks, on copper, on lumber.

Those are under a different legal authority, completely unrelated to this case.

Those remain in place.

No, it did not.

And that is a big point of contention here.

You have over a thousand companies that have already filed in court saying, we want refunds if these tariffs are struck down.