Kyle Risdahl

The International Emergency Economic Powers Act was the statute in question, but it is important to understand here that

that tariff-free we are not, which is among the things I'm going to talk about with Martha Gimbel right now.

She's the executive director of the Budget Lab at Yale.

Martha, it's good to have you back on the program.

All right.

So let us test my hypothesis or the president's hypothesis, I suppose.

Has certainty been restored?

So let's recap briefly, right?

IEPA tariffs are gone, but there are, and this is the nomenclature, and I apologize to listeners, but there are Section 232 tariffs, 301 tariffs, now 122 tariffs from various trade adjustment acts of years gone by.

Now what happens?

Let's say we stay at 15%.

Macroeconomically, what do you suppose happens?

um and you're going to raise a lot of revenue so it's in some ways it's not that different than what we've been talking about before today do you suppose sorry this this goes a little sideways and i wasn't planning on going here but but the federal reserve has been saying by and large look we think tariffs are going to be a one and done thing it's going to pass through the economy and then they're not going to have a continuing effect does this change any of that

So, let me ask you, I was going to ask you about the next six months, but I'm not going to do that.

I'm going to give you 30 seconds to answer this question.

There are, give or take, $150 billion worth of these IEPA tariffs out there that now have to be refunded.

Companies, of course, are already in court trying to get these things refunded.

It's not like I'm going to get back the two and a half bucks that I spent on that, you know, case of soda I bought or whatever, right?

It's not coming back to the consumer, none of this money.

It is not at all.