Jason Furman

Great to be with you.

Yeah, look, we still have a lot of uncertainty here.

The Supreme Court was completely clear about this set of tariffs.

It's not clear whether the businesses should get the money back.

It's not clear what comes next.

But I think this does reduce our uncertainty.

The other legal authorities the president has to use tariffs in some cases are time limited in terms of how long they can apply.

In other cases require more of a process.

You can't just wake up in the middle of the night and not like the tone of voice of the leader of Switzerland and put tariffs on Switzerland.

So less arbitrary and capriciousness going forward.

But the broad sweep of tariffs and how many of them come back, that will be up to the president and potentially back in the courts again.

Yeah, I think you're broadly right.

There are different secretaries, though.

The Commerce Department legally has a lot of say here.

The Commerce Secretary, Lutnick, is probably more enthusiastic about tariffs than the Treasury Secretary, Besant, is.

Or the president, maybe.

Yes, Lutnick loves tariffs.

Or the president.

From my perspective, low tariffs are better.

But as you were saying in your intro to all of this predictability