Podcast Appearances
Thank you so much.
Thank you.
It's messy, and that's exactly how Brett Kavanaugh, one of the dissenting justices, described the refund process.
It was likely to be a mess, as was acknowledged at oral argument.
Is it surprising, then, that the justices did not address the extent to which importers are entitled to refunds, that it's just basically kicking it back to the lower courts?
Yeah.
If anything, this makes the State of the Union address that much more interesting to see how it all shakes out the body language, not just what President Trump will say, because I'm sure he'll probably say something even before his address next week.
And we'll certainly given this is the signature economic policy that he has really defined his administration.
Right.
A lot of historical context there.
Certainly a huge landmark decision by the Supreme Court determining that President Trump's global tariffs are illegal.
Let's bring in Henrietta Trace.
Henrietta is our go-to expert on all things policy and economics.
She is the managing partner and director of economic policy at Veta Partners.
Henrietta, the market had largely anticipated this.
We saw it with the reaction in certain retail stocks, companies that would benefit from the rollback of these tariffs.
How are you looking at this?
A lot to see here.
And it's not just American stocks that are benefiting.
I'm looking at, for instance, LVMH, Hennessy in Europe, climbing on the news up 4.4 percent in European trading.