Latest / NO FILTER / Trump administration asks court to pause ruling blocking tariffs(MP3_160K)

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Trump administration asks court to pause ruling blocking tariffs(MP3_160K) · NO FILTER

• 0:00
  Speaker 1: It is just moments ago, guys. The Trump administration asked
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  Speaker 1: the Court of International Trade to pause its decision blocking
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  Speaker 1: the president's tariffs while the White House seeks an appeal.
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  Speaker 1: NBC News Chief White House correspondent Peter Alexander brings us the.
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  Speaker 2: Details overnight of federal courts slamming the breaks on President
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  Speaker 2: Trump's sweeping tariffs.
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  Speaker 3: It's our declaration of economic independence.
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  Speaker 2: The US Court of International Trade ruling that the president
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  Speaker 2: does not have the authority to impose those steep tariffs
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  Speaker 2: on allies or adversaries. The court in two separate cases,
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  Speaker 2: tossing out the tariffs the president imposed under a nearly
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  Speaker 2: fifty year old emergency economic law that had never been
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  Speaker 2: invoked in a situation like this. The suits were filed
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  Speaker 2: by small businesses and a dozen states, arguing that President
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  Speaker 2: Trump violated the Constitution, which grants Congress, not the President,
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  Speaker 2: the authority to set tariffs. The administration already appealing, with
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  Speaker 2: a White House spokesperson arguing it is not for unelected
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  Speaker 2: judges to decide how to properly address a national emergency.
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  Speaker 2: The ruling injecting new uncertainty into the president's on again,
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  Speaker 2: off again tariffs with many businesses complaining his chaotic approach
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  Speaker 2: has made it impossible to plan on their purchases ahead,
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  Speaker 2: thank you very much. Hours before the ruling, the President
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  Speaker 2: took issue with accusations he's backed down on his terror
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  Speaker 2: threats when asked about a new term reportedly used by
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  Speaker 2: some on Wall Street, Taco short for Trump always chickens out.
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  Speaker 4: Oh, then I checking out.
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  Speaker 5: I've never heard that.
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  Speaker 3: You mean, because I reduced China from one hundred and
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  Speaker 3: forty five percent of and you ask a nasty question
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  Speaker 3: like that. It's called negotiation. You set a number, and
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  Speaker 3: if you go down, you know, if ICE set a
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  Speaker 3: number at a ridiculous high number and I go down
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  Speaker 3: a little bit.
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  Speaker 2: As the president battles the courts, one of his top allies,
• 1:51
  Speaker 2: Elon Musk, confirms he's departing the administration, thanking President Trump
• 1:58
  Speaker 2: for the opportunity to reduce wasteful spending while heading up
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  Speaker 2: the Department of Government Efficiency. Coming just two days after
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  Speaker 2: Musk criticize President Trump's signature spending bill.
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  Speaker 1: So you know, I was like disappointed to see the
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  Speaker 1: massive spending bill.
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  Speaker 2: Musk now faces a new challenge trying to rehabilitate his
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  Speaker 2: image as a visionary entrepreneur after months of fearce political scrutiny.
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  Speaker 1: That was NBC's Peeler Alexander with that report and beyond
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  Speaker 1: the appeal. The Trump White House reacting with Finley disguised
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  Speaker 1: fury as to what happened here, Stephen Miller calling it
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  Speaker 1: a judicial coup, others saying that this is further evidence
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  Speaker 1: of the deep State trying to work against and subvert
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  Speaker 1: Trump's agenda, ratcheting up their attacks on the judiciary. So
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  Speaker 1: joining us now, we have co anchor of CNBC Squawkbox
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  Speaker 1: and a New York Times colmist Andrew ross Sorkin, NBC
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  Speaker 1: News senior business correspondent Christine Romans, co hosts of MSNBC's
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  Speaker 1: The week Night Simone Sanders Townshend, as well as former
• 3:02
  Speaker 1: MSNBC host Chris Matthews. His new substact is aptly titled
• 3:06
  Speaker 1: You'll Never Get a Hardball with Chris Mathews. Also with
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  Speaker 1: US former State Attory for Palm Beach County, Dave Arenberg.
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  Speaker 1: It's a terrific group for a busy news hour, Joe.
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  Speaker 1: And certainly there was rage this morning and last night
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  Speaker 1: from the White House about this ruling. Also real anger
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  Speaker 1: for President Trump there when confronted with that s. Peter
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  Speaker 1: Alexonna put it that the taco trade, the idea that
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  Speaker 1: him chicking in the out right right. But as we
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  Speaker 1: talked about earlier this morning, you know, there are a
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  Speaker 1: few things that you would say Donald Trump has been
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  Speaker 1: has believed in for a long time. But he's been
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  Speaker 1: consistent right in. But right on top of the list tariffs.
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  Speaker 1: Those aren't going anywhere if he got it.
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  Speaker 3: Yeah, and again again, Wall Sweet just doesn't get it.
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  Speaker 3: I mean, the people had supported Donald Trump that thought
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  Speaker 3: he was just talking during the campaign about tariffs, but
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  Speaker 3: we didn't mean it. Don't get it. He's he's been
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  Speaker 3: talking this way since the nineteen eighties. He still believes it.
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  Speaker 3: When people say he's backing down, all they're doing is
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  Speaker 3: they're basically pushing him towards more tariffs because he believes
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  Speaker 3: in them. He believes that tariffs are the best way
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  Speaker 3: forward in rebuilding America's manufacturing base. Of course, most economists
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  Speaker 3: disagree with him. Most of his supporters on Wall Street
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  Speaker 3: disagree with him. He doesn't care, so they're not going away.
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  Speaker 3: Dave Ehrenberg, I want to start with you with this
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  Speaker 3: fascinating ruling last night from this court, of course the
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  Speaker 3: White House dead wrong, dead wrong. And also it is
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  Speaker 3: not helpful when they talk about judicial coups. It's not
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  Speaker 3: a judicial coup if it's an Article three and if
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  Speaker 3: this is the way that James Madison and Alexander Hamilton
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  Speaker 3: planted out two hundred and forty years ago, and every
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  Speaker 3: president since then has had to deal with it. Want
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  Speaker 3: I do want to say this though, and I'm just
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  Speaker 3: curious at first, blush, but you what your thought is
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  Speaker 3: when you have this court saying it's Congress's power and
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  Speaker 3: not the executive branch's power. So they're saying this is
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  Speaker 3: an Article one power, not an Article two power, and
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  Speaker 3: that's coming from in an Article three power. I don't
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  Speaker 3: think that's going to hold up with a Supreme Court.
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  Speaker 3: And I don't think it's going to hold up with
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  Speaker 3: a Supreme Court because they're going to say, well, yes,
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  Speaker 3: it's Congress's power. Congress deferred that power to the president.
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  Speaker 3: If they want to if they want to fight that
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  Speaker 3: and say this is an Article one power and they
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  Speaker 3: bring the lawsuit, then they'll have standing to get that
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  Speaker 3: to claw that power back or to pass legislation doing
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  Speaker 3: it I just don't see a court doing this by themselves. Again,
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  Speaker 3: they do they have a right to have this ruling.
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  Speaker 3: Of course they do under Article three. Will it hold
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  Speaker 3: up under the Supreme Court? I'm very skeptical again because
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  Speaker 3: Congress has deferred that power for now to the president.
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  Speaker 4: Well, we haven't explicitly given up their power. Yes, they
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  Speaker 4: have self emasculated. It's embarrassing, and it's up to the
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  Speaker 4: judges to restore some checks and balances. But these justices
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  Speaker 4: on the conservative side are strict constructionalists, and they know
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  Speaker 4: that Congress has the power of the purse, and it's
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  Speaker 4: Congress that has the power to tariff. And this statute
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  Speaker 4: here AIPA provides some exceptions when there is an unusual
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  Speaker 4: and extraordinary threat to the national security, foreign policy, or
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  Speaker 4: economic security of the United States. But what is that
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  Speaker 4: unusual and extraordinary threat here? Our long standing trade imbalances.
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  Speaker 4: Emergency powers exist to enable a present to respond quickly
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  Speaker 4: to a crisis. It's not supposed to be used to
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  Speaker 4: deal with long standing laws and policies you disagree with.
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  Speaker 4: If you want to change our laws, you go to Congress.
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  Speaker 4: But President Trump doesn't want to do that because he
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  Speaker 4: knows he can't get these unpopular tariffs through a narrowly
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  Speaker 4: divided House and the filibusterer in the Senate. So we
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  Speaker 4: resorts to executive orders and this IEPA statute, which only
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  Speaker 4: works as long as the court say that it works,
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  Speaker 4: and yesterday at court shut it down. And one other thing, Joe,
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  Speaker 4: there's a major problem with Trump's use of this statue,
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  Speaker 4: and the courts identified it. It doesn't authorize teriffs. This
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  Speaker 4: statute is enacted to enable a president to impose economic
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  Speaker 4: sanctions on hostle foreign countries, not every country in the world,
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  Speaker 4: like Trump did, and tariffs do not appear in the
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  Speaker 4: list of potential sanctions in the law. It's not even
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  Speaker 4: mentioned in the acts legislative history either, and no president
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  Speaker 4: in history has ever used the law to impose tariffs.
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  Speaker 3: Yeah, and A. Sorkin though, I will say again, Congress,
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  Speaker 3: you know Republicans and Democrats, there were a few that
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  Speaker 3: were trying to you know, end the emergency to reclaimed
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  Speaker 3: their power, and they couldn't. They couldn't get this efficient
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  Speaker 3: number of votes. So Congress has deferred to Donald Trump. Again.
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  Speaker 3: People may not like it, it's just the reality. And
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  Speaker 3: that's how the Supreme Court. I think the Supreme Court
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  Speaker 3: is going to look at it. I think it's how
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  Speaker 3: a lot of courts would look at it. I just
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  Speaker 3: want to just add this, Andrew, because it's kind of
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  Speaker 3: lost in the discussion, even from all of the weeping
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  Speaker 3: and gnashing of teeth that's coming out of the White
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  Speaker 3: House from the New York Times this morning. Even with
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  Speaker 3: this ruling, this is when New York Times, reporting on
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  Speaker 3: Trump can still temporarily launch important taxes of fifteen percent
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  Speaker 3: for one hundred and fifty days on nations with which
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  Speaker 3: the US runs a substantial trade def sit The ruling
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  Speaker 3: notes that a president has as as authority Intersection one
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  Speaker 3: twenty two of the Trade Act of nineteen seventy four.
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  Speaker 3: Donald Trump as president still has a significant amount of
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  Speaker 3: power regardless of what the Gords say on tariffs. And
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  Speaker 3: so all of these people on Wall Street, you know,
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  Speaker 3: jumping up and down, going hip hop horay, and we're
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  Speaker 3: seeing a market rebound again. These people keep hoping against
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  Speaker 3: hope that Donald Trump is not a tariff president. He is,
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  Speaker 3: isn't he?
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  Speaker 5: Well he is. There's two pieces of this, So you're
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  Speaker 5: one hundred percent right that he is going to find
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  Speaker 5: and can find other ways to effectuate these tariffs if
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  Speaker 5: he so wants. I was talking to Michael Frohman, who
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  Speaker 5: used to be the US Trade representative. He said there
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  Speaker 5: are lots of different methods and mechanisms with which he
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  Speaker 5: could pursue this. Having said that, in terms of the
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  Speaker 5: context of the art of the deal, how you're going
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  Speaker 5: to make deals with other countries, this clearly, at least
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  Speaker 5: in the short term, is going to give some new
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  Speaker 5: negotiating leverage, not to the US but to our trading partners. Right,
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  Speaker 5: they're going to look at this and say, Okay, you
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  Speaker 5: want to deal from US, Well, you have your courts
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  Speaker 5: that you're going to have to fight with for a while.
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  Speaker 5: We'd like a different kind of deal. In fact, you know,
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  Speaker 5: Europe just seventy two hours ago said don't put the
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  Speaker 5: tariffs up on us on June first. We'll try to
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  Speaker 5: get there by July ninth. Well, this has just been
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  Speaker 5: a gift to the EU in terms of how that
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  Speaker 5: negotiation could go. I'm sure there are some inside the
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  Speaker 5: UK this morning that are saying in themselves, we agreed
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  Speaker 5: early on we do this ten percent tariff. Maybe that
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  Speaker 5: wasn't such a great idea in fact, because the courts
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  Speaker 5: are going to upend some of these things, so there's
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  Speaker 5: no question that he can pursue these tariffs, and he may.
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  Speaker 5: It's just going to draw all of this out, though
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  Speaker 5: in a much longer way, much longer than the sort
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  Speaker 5: of ninety day period that was initially contemplated, And so
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  Speaker 5: that uncertainty onto itself is also going to create a
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  Speaker 5: sort of new level of paralysis, I'm afraid to say,
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  Speaker 5: as investors and business leaders and others try to think
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  Speaker 5: through all the different implications of what happens next.
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  Speaker 1: Yeah, lots of implications here,