“Trump Has Other Tools” - Supreme Court STRIKES DOWN Trump’s Tariffs
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What is the main topic discussed in this episode?
Oh, my God.
This just happened. I knew this was going to happen. Unbelievable.
Oh, my God, Tom. Did you just see that? Yeah, it's 6-3. I haven't seen the list of judges, but 6-3 has to mean that Comey and Roberts joined the three liberal women.
What the hell are they doing? What are they doing? What are they doing? We're winning, and it's working, and look at what we want to talk about the deep state.
That's it right there. So major breaking. The U.S. Supreme Court has just struck down President Trump's tariff authority 6-3. Terrible. Supreme Court just wrecked our country. One of the biggest economic comebacks in the world history just thrown into— What the hell? By the way, Neil Gorsuch joined the liberal majority. Play the clip. Are they saying anything, or is it just an update?
I have not been able to check it out.
Let's just see the first 10 seconds. We do. We've got a very fractured opinion, but initially what it says, we know it's authored. I just want to know who voted against it, Tom. Did you pull it up?
What was the Supreme Court's ruling on Trump's tariff authority?
It says essentially that this law that grants the president emergency powers did not, it looks like by this first blush reading by the chief justice here, does not give him the power. Roberts. to levy these tariffs that he's levied. Part of this initial opinion says the words regulate importation. The president says that gives him the independent power to impose tariffs on imports from any country, any product, any rate, any time. These words, it says, cannot bear such weight. We know he got a dissent by Justice Kavanaugh. Let's go to the market. How's the market reacting? Is it an immediate uptick? Unbelievable. It's an immediate uptick. Interesting.
Uptick in the market. Interesting.
Not by a lot. Not by a lot, but let's just see if it just happened in the last 30 minutes. So when did this happen, Rob?
30 minutes ago.
This happened, this update about tariffs is how long ago? Did it just happen right now or was it 30 minutes ago?
I thought like 12 minutes was when it happened. Everything I see, the first release, Pat, was 10.02 a.m. Eastern. What's happening now?
Yep, about 25 minutes ago.
Okay, guys, then the market's reacting to this. That's what the market's reacting to because the market was flat 49, 280, and then it went up 300. It went all the way up to 40. Why would the markets go up based on this news? Well, you have to realize there are some people that – are feeling like that pinch that they were paying, because they see it as a tax, as the way they're short-term tax that they were paying on this. This is one of those things I do not like. Listen, I was with Rand Paul, and I asked him the question, and I said, Rand, Why does the president keep bringing up the fact that if the Supreme Court rules against tariffs, why does he keep saying that? He says because it's most likely going to rule against the tariffs.
He said this three weeks ago. Remember that when I came back and I shared that? Yeah, so interesting. Tom, what do you think is going to happen next?
So I'll tell you what I think is going to happen, but I'll add this. CNN is reporting that Neil Gorsuch joined Roberts and Barrett in the moderate opinion joining the liberals. So Neil Gorsuch, appointed by – Trump is one of the judges that voted, making it 6-3, not 5-4. I was expecting 5-4 because I was expecting Comey and Roberts to sit on the moderate middle where they've been. So what this means, I trust Scott Besson. And Scott Besson said there are other tools that they can use to negotiate. I think there's going to be a lot of celebration, oh, we defeated Trump and stuff. But you got to go back and look. There's a lot of trade deals, several trade deals that were key that got done because the tariffs were there.
And tariffs were coming back. Just yesterday, Japan said they were investing It's 30 or 40 billion dollars in the U.S. in a natural gas power plant in Ohio and that Trump was pulling back tariffs to 15 percent on certain things. And so I think that this is this is bad for Trump. And the mainstream media is going to run with it and say, ah, you know, he's been given a bloody nose by the Supreme Court.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:59
2
What was the Supreme Court's ruling on Trump's tariff authority?
0:59–4:38
3
How did the market react to the Supreme Court's decision?
4:38–10:27
4
What does the ruling mean for Trump's economic policies?
10:27–16:57
5
What are the implications of the Supreme Court's decision on trade negotiations?
16:57–26:42
6
What alternative strategies can Trump use after losing tariff authority?
26:42–27:23
Speakers
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