Gavin Bade

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.

The Supreme Court did not weigh in to say what happens.

This means that it will probably be litigated in lower courts.

And the president said at a press conference that you'll probably be in court for five years sorting this out.

So whether or not that means that they're going to fight this tooth and nail for that long,

I am not sure, but there's no easy resolution to the refunds issue, at least in the short term.

At this point, I think those tariffs, the new ones he announced, are more legally defensible than the ones that were struck down.

So he announced there's two sets of tariffs that he's talking about.