Latest / The Chuck ToddCast / Instant Reaction: Supreme Court STRIKES DOWN Trump’s Tariffs

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Instant Reaction: Supreme Court STRIKES DOWN Trump’s Tariffs · The Chuck ToddCast

• 0:03
  Speaker 1: Well, huge news for consumers, and I think that's the
• 0:07
  Speaker 1: important win. This is a huge win for consumers and
• 0:10
  Speaker 1: a huge win for constitutionalists. A Supreme Court in a six'
• 0:14
  Speaker 1: to three decision ruled the president's emergency authority that he
• 0:18
  Speaker 1: has claimed to have to impose tariffs across the. Board
• 0:22
  Speaker 1: if you go back To Liberation day and how he's
• 0:25
  Speaker 1: used tariffs as a coercion tool on trade, deals all
• 0:28
  Speaker 1: of that is unconstitutional and so now we go into
• 0:33
  Speaker 1: a world of. Uncertainty, politically this should be great news
• 0:38
  Speaker 1: For Congressional, republicans so hear me. Out many of These
• 0:42
  Speaker 1: republicans don't like these, tariffs but they have not wanted
• 0:45
  Speaker 1: to cross the. PRESIDENT i would say that if you
• 0:48
  Speaker 1: had a secret vote Of Congressional republicans On Capitol, hill
• 0:54
  Speaker 1: you probably would have a sort of a fifty to
• 0:57
  Speaker 1: fifty split Among House republicans and probably two thirds Of
• 1:01
  Speaker 1: Senate republicans not in favor of the president's use of
• 1:06
  Speaker 1: tariffs and his policies toward. Here but, obviously if it's
• 1:09
  Speaker 1: not a secret, ballot many of people want to get
• 1:11
  Speaker 1: caught siding with the. President but we've seen these little
• 1:16
  Speaker 1: we've seen the tariffs have created a small, wedge and
• 1:20
  Speaker 1: when there's been an, opportunity Some republicans have publicly shown
• 1:25
  Speaker 1: their cards and have pushed back on the. President we
• 1:27
  Speaker 1: saw that symbolic vote On canadian tariffs in The house
• 1:30
  Speaker 1: a couple of weeks, ago which saw Six House republicans
• 1:34
  Speaker 1: go on the. Record so why is that sick number
• 1:37
  Speaker 1: Of republicans who symbolically voted to get rid Of canadian tariffs?
• 1:41
  Speaker 1: Important because in, theory the simplest way for the president
• 1:46
  Speaker 1: to essentially to get this authority back and restore his
• 1:49
  Speaker 1: ability to impose these tariffs is to go get permission From,
• 1:52
  Speaker 1: congress go get specific authority to do what he wants to.
• 1:56
  Speaker 1: Do the problem, was even though there Are republican majorities
• 2:00
  Speaker 1: in The house in The, senate there are not majorities
• 2:02
  Speaker 1: in The house in The senate that are in favor
• 2:04
  Speaker 1: of this unilateral. Authority there are plenty Of republicans who
• 2:07
  Speaker 1: view tariffs as straight up consumption taxes and that they're
• 2:11
  Speaker 1: essentially taxes on working. People and there's been plenty of
• 2:15
  Speaker 1: studies that have shown the tariffs that have been imposed
• 2:18
  Speaker 1: have been primarily paid by, consumers not by the other.
• 2:21
  Speaker 1: Countries Like President, trump claims or by the businesses which
• 2:26
  Speaker 1: The president tried to browbeat into eating some of his.
• 2:28
  Speaker 1: Tariffs and they. Did some companies ate tariffs Early hyundai
• 2:32
  Speaker 1: And kia for a short period of time ate some
• 2:35
  Speaker 1: of the early, tariffs but none of these companies were
• 2:38
  Speaker 1: going To we're going to eat them for. Long here's
• 2:41
  Speaker 1: the real, problem, though you, know while this is politically
• 2:43
  Speaker 1: good news in theory could be good news For republicans
• 2:47
  Speaker 1: that are on the ballot in twenty twenty, six there's
• 2:50
  Speaker 1: a ton of uncertainty now that comes with this. Ruling,
• 2:52
  Speaker 1: right The president's team in a way that AND i
• 2:56
  Speaker 1: think this was a little bit of sort of, bloviating
• 3:01
  Speaker 1: if you, will trying to jawbone The Supreme court saying,
• 3:06
  Speaker 1: well it doesn't matter how you, rule because if you
• 3:08
  Speaker 1: go and rule against, This we've got plenty of ways
• 3:10
  Speaker 1: to impose. This we've got other ways to do. This
• 3:12
  Speaker 1: there are small ways they can do, this but it's
• 3:15
  Speaker 1: very sector specific and it's they're certainly going to have
• 3:19
  Speaker 1: to do it. Differently but here's the. Thing there's a
• 3:21
  Speaker 1: whole bunch of businesses that are going to want this
• 3:24
  Speaker 1: tariff money. Back they're going to be looking for, Refunds
• 3:27
  Speaker 1: so you're going to have that situation potentially. Introduced and you,
• 3:31
  Speaker 1: know The president has been spending this tariff. Revenue he's
• 3:35
  Speaker 1: spent more than he has collected, rhetorically if you, will,
• 3:38
  Speaker 1: right he's always talking, about, oh we can give money
• 3:40
  Speaker 1: back to the people, here or we can use it
• 3:42
  Speaker 1: to pay for, this or we can use it to
• 3:43
  Speaker 1: pay for. That, well now he's going to have to
• 3:45
  Speaker 1: refund some of, this so you're going to see a
• 3:47
  Speaker 1: lot of. Lawsuits he's not going to want to admit.
• 3:49
  Speaker 1: Defeat so the wild card here and the fact that
• 3:52
  Speaker 1: we're living in this era of. INSTABILITY i, mean just
• 3:56
  Speaker 1: look at the car. Weekend i'm coming to you here
• 3:58
  Speaker 1: on A friday morning after this in court. Ruling and you,
• 4:02
  Speaker 1: know we're also still in a partial shutdown OF dhs
• 4:06
  Speaker 1: And american flying, public and you HAVE tsa agents working without.
• 4:09
  Speaker 1: Pay we have the largest number of military assets in
• 4:13
  Speaker 1: The middle gathering in The Middle east since the start
• 4:14
  Speaker 1: of The Iraq, war where it's not clear what we're
• 4:18
  Speaker 1: going to do With. Iran we're going to attack them
• 4:21
  Speaker 1: to do? What just to take out their nuclear program
• 4:23
  Speaker 1: or are we looking for regime chains or something? Else
• 4:25
  Speaker 1: what is this. About he's got A state of The
• 4:28
  Speaker 1: union On, tuesday and let's just say that while he
• 4:32
  Speaker 1: may want to talk about what he wants to do
• 4:34
  Speaker 1: or hopes to do over the next two, years instead
• 4:37
  Speaker 1: he's got a lot of explaining to. Do you, know
• 4:40
  Speaker 1: how is? He you, know never mind that we just
• 4:42
  Speaker 1: got a NEW gdb report earlier this morning that indicated
• 4:46
  Speaker 1: the economy grew at an snail's pace in the fourth
• 4:50
  Speaker 1: quarter of last, year part of the reason being the
• 4:53
  Speaker 1: forty plus day government. Shutdown, now even the current shutdown
• 4:57
  Speaker 1: now does not have that kind Of it's not is
• 5:00
  Speaker 1: big and is not going to have that kind of
• 5:01
  Speaker 1: impact on this quarter's. Growth but this uncertainty for business
• 5:06
  Speaker 1: now with these, tariffs and it's been nothing but. Uncertainty
• 5:09
  Speaker 1: this only adds more of. It because you, know If
• 5:16
  Speaker 1: Donald trump were a conventional, president you'd sort of take your,
• 5:20
  Speaker 1: Defeat you'd accept the premise that you don't have the
• 5:23
  Speaker 1: votes On Capitol, hill and you might rhetorically continue to
• 5:26
  Speaker 1: campaign and say this is the best way to do,
• 5:28
  Speaker 1: it and let me persuade. You that would be how
• 5:31
  Speaker 1: a normal politician would. Behave we, know this is not
• 5:34
  Speaker 1: how he behaves he's going to take this as a personal.
• 5:36
  Speaker 1: Rebuke he is going to probably attack those that rule against.
• 5:41
  Speaker 1: Him what's interesting here is two of his appointees were
• 5:46
  Speaker 1: on The this is a six to three, decision and
• 5:48
  Speaker 1: it didn't quite break the way that we had seen
• 5:51
  Speaker 1: many of these decisions when they go Against trump break.
• 5:54
  Speaker 1: Right we've seen there's a fairly consistent three justices that
• 5:58
  Speaker 1: are almost always there to side With trump's, arguments which
• 6:03
  Speaker 1: is Always alito And, thomas and Usually. Gorsig in this,
• 6:06
  Speaker 1: case it Wasn't. Gorsag it Was kavanaugh that that sided
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  Speaker 1: With trump on this, one which is a mild. Surprise
• 6:14
  Speaker 1: he's usually a bit more of an, institutionalist And i'm mildly,
• 6:18
  Speaker 1: surprised Or gorsage is every once in a while is
• 6:21
  Speaker 1: a wild card because he does call himself a, textualist
• 6:23
  Speaker 1: and in that, sense if you are originalist or, textualist
• 6:27
  Speaker 1: whatever you want to call yourself in these sort of,
• 6:29
  Speaker 1: manufactured made up legal legal views that the Federal society
• 6:34
  Speaker 1: has created over the, years however you want to view.
• 6:37
  Speaker 1: Yourself you, Know congress has the power of the. PURSE
• 6:41
  Speaker 1: i mean this to be should have been nine to oh,
• 6:44
  Speaker 1: right and only AND i think we're seeing we're seeing
• 6:49
  Speaker 1: a bit of the partisanship of The Supreme court be
• 6:51
  Speaker 1: exposed by the three people that chose not to do.
• 6:54
  Speaker 1: This i'm looking forward to reading those discent full. DISCLOSURE
• 6:56
  Speaker 1: i haven't ready, yet they're all still being. POSTED i
• 6:59
  Speaker 1: think it's the descents are always. Interesting it's more important
• 7:03
  Speaker 1: to note what the ruling itself. Is it's notable That
• 7:05
  Speaker 1: roberts himself wrote the. Ruling so the six' three was the,
• 7:08
  Speaker 1: Three liberals Roberts, and barrett two of, the three sort
• 7:12
  Speaker 1: of the, center wing as we've seen With This, supreme
• 7:15
  Speaker 1: court but It was gorsets who joined the majority in
• 7:18
  Speaker 1: this case And. Not kavanaugh AND like, i said we've
• 7:21
  Speaker 1: been seeing sort Of A supreme court that's more divided
• 7:24
  Speaker 1: in three in that you Have The, trump conservatives which
• 7:29
  Speaker 1: Are Normally, alito thomas and in course it's not in
• 7:32
  Speaker 1: this case the Institutionalists that roberts has worked really hard
• 7:35
  Speaker 1: to try to, Have kavanon barrett on, his side and these,
• 7:39
  Speaker 1: institutionalist things so he's not the only one siding with the.
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  Speaker 1: Three liberals and then you have the, three liberals and
• 7:45
  Speaker 1: so in, that sense we still have that basic, split
• 7:49
  Speaker 1: there but in, This case Coursu's in kavanaugh swap swap
• 7:53
  Speaker 1: there a little, bit so but it is two Of
• 7:56
  Speaker 1: the president's and pointees went. Against him and we all
• 7:59
  Speaker 1: know he personalizes. These things he thinks because he appointed
• 8:02
  Speaker 1: somebody than their job is to always abide by what.
• 8:04
  Speaker 1: He wants that's not how our system was supposed to
• 8:11
  Speaker 1: Work in this is why lifetime appointments, matter, here right
• 8:16
  Speaker 1: is if, they Didn't the president would fire members Of
• 8:19
  Speaker 1: The supreme court that voted. Against him so just a
• 8:22
  Speaker 1: reminder that some of these things that are uncomfortable that
• 8:26
  Speaker 1: some people, don't like like the, lifetime appointments it is
• 8:30
  Speaker 1: for reasons like this that you're glad that they. Do
• 8:33
  Speaker 1: exist but let's talk about the political fallout here a.
• 8:36
  Speaker 1: Little bit this, in theory could be huge news for
• 8:40
  Speaker 1: Any congressional republican who was uncomfortable defending raising taxes On
• 8:44
  Speaker 1: the american consumer because that's what these tariffs, were doing
• 8:47
  Speaker 1: and wanting to push back without alienating the. President's Base
• 8:52
  Speaker 1: supreme court has given. Them cover and so One thing
• 8:55
  Speaker 1: i'm looking to over the next seventy two to ninety
• 8:58
  Speaker 1: six hours is how many Of those republicans publicly express this,
• 9:02
  Speaker 1: relief publicly now say you know What The supreme court,
• 9:06
  Speaker 1: is right this is a Decision, of congress and, you
• 9:09
  Speaker 1: know and maybe, THEY say i would love to support
• 9:13
  Speaker 1: the president having. This authority let's bring a Bill. To
• 9:16
  Speaker 1: congress now that's that's something that would. Bog down and
• 9:20
  Speaker 1: That's what. I'm curious how is the president going to?
• 9:22
  Speaker 1: React here he's going to see if he can do
• 9:24
  Speaker 1: this without Going, to CONGRESS because i don't think he has,
• 9:26
  Speaker 1: the votes or he can try to Strong. Arm congress
• 9:30
  Speaker 1: and one thing we have learned is when he, does
• 9:32
  Speaker 1: engage he can get there might be Enough nervous republicans
• 9:38
  Speaker 1: about losing his support with the base or primary challenges
• 9:41
  Speaker 1: that they could. Go along but they would have to
• 9:45
  Speaker 1: do this under some form of a reconciliation because he
• 9:48
  Speaker 1: can't get sixty votes In. The senate it's going to
• 9:50
  Speaker 1: have a hard enough time getting fifty if he really
• 9:53
  Speaker 1: was trying to strong. Arm THIS and i, You Know
• 9:56
  Speaker 1: john thune doesn't want to vote for, Any tariffs none
• 9:58
  Speaker 1: Of the Midwestern. Republic bilicans this has been, a devastating
• 10:02
  Speaker 1: Devastating to america's. Farm economy and so That's what i'm
• 10:08
  Speaker 1: going to be looking for is How many republicans publicly
• 10:11
  Speaker 1: celebrate this ruling By The, supreme court, you know because
• 10:15
  Speaker 1: they will sort of expose themselves as sort of The
• 10:18
  Speaker 1: quiet trump opposition that didn't want to speak out until
• 10:22
  Speaker 1: they had some cover From The. Supreme court others may not, say,
• 10:25
  Speaker 1: anything right, That is normally those that are Happy that
• 10:29
  Speaker 1: trump's been rebuked usually don't want to get caught celebrating
• 10:33
  Speaker 1: a Rebuke, of trump fearing alienating. His base so you
• 10:36
  Speaker 1: may see a large Number of republicans try not to
• 10:40
  Speaker 1: react at all while they wait to see how dear leader.
• 10:45
  Speaker 1: Spends this but make, no mistake this is a. Huge
• 10:48
  Speaker 1: RULING it's, I LOOK i'm i always hesitate them to, speak,
• 10:54
  Speaker 1: about well how the stock market's going, to react and
• 10:57
  Speaker 1: we're one hour into Trading as i'm taping. This VIDEO
• 11:00
  Speaker 1: but i would assume the markets are going to be
• 11:02
  Speaker 1: happy and relieve on that, Front, that okay this means
• 11:06
  Speaker 1: that it's going to be harder for him to. Impose
• 11:09
  Speaker 1: tariffs so, in, theory uh, it should it should clean.
• 11:15
  Speaker 1: Things up but there's a lot of handshake. Trade deals
• 11:18
  Speaker 1: do they get? Up ended does these investments that the
• 11:22
  Speaker 1: president claims countries have promised to make do they get?
• 11:25
  Speaker 1: Pulled back so it doesn't. Like, everything look we're living in.
• 11:30
  Speaker 1: This incredibly just just this weekend shows you this uncertainty
• 11:34
  Speaker 1: With the we're still in the midst of a. Partial
• 11:36
  Speaker 1: shutdown we have more military assets In The middle east
• 11:39
  Speaker 1: than we've had since the start Of The. Iraq war
• 11:41
  Speaker 1: he really has Some informed congress exactly of what his plans.
• 11:44
  Speaker 1: Are here is he just trying to take out? Nuclear
• 11:47
  Speaker 1: sites is he trying to use this as a negotiating
• 11:49
  Speaker 1: ploy or is this the beginning of? Regime Change, and
• 11:52
  Speaker 1: okay what do we do after the after the first
• 11:55
  Speaker 1: few days Of? Bombing iran than? What so and here's
• 12:03
  Speaker 1: another THING that i think is an Intangible that i'll
• 12:07
  Speaker 1: be looking for. The more, you know this being a six'
• 12:13
  Speaker 1: To three, supreme, court ruling right it's not going to
• 12:15
  Speaker 1: be viewed as. A partisan, decision you know it's going
• 12:19
  Speaker 1: to be as a decision. About our constitution those That
• 12:24
  Speaker 1: Are non maga republicans who have been less and less,
• 12:29
  Speaker 1: Comfortable with him does this open? Up the door do
• 12:34
  Speaker 1: you start to see does to quote use my Favorite
• 12:37
  Speaker 1: Quote of harley barbara, good gets better. Bad gets worse
• 12:41
  Speaker 1: does losing sort of make him look more, Like a
• 12:45
  Speaker 1: loser and we know the president hates looking, like a
• 12:47
  Speaker 1: loser but he's. A loser here he is a. Huge
• 12:50
  Speaker 1: loser here this is a reminder that our constitution. Is
• 12:53
  Speaker 1: still working there are, Checks and balances and we know
• 12:58
  Speaker 1: he doesn't react to losing, very well well and so.
• 13:01
  Speaker 1: He may overreact he, may get angry he may and
• 13:05
  Speaker 1: it's that uncertainty that's always. Unsettling on this, but big
• 13:12
  Speaker 1: picture this could be a sigh of relief for a
• 13:17
  Speaker 1: bunch Of. Vulnerable congressional republicans i'll be curious to see,
• 13:21
  Speaker 1: how they react how they try to show that they're.
• 13:24
  Speaker 1: Happy with this there is there a middle ground they
• 13:27
  Speaker 1: can do that doesn't. Alienate the president how? Does he
• 13:30
  Speaker 1: react do they really have this backup plan? Ready to
• 13:33
  Speaker 1: go do they essentially bull those forward and hope there are,
• 13:37
  Speaker 1: more you know and essentially dare more. Lawsuits to happen
• 13:42
  Speaker 1: does he try to do what a normal, president would
• 13:45
  Speaker 1: do which is go see if you can get Your.
• 13:47
  Speaker 1: Authority From congress but i'll tell you this goes BACK
• 13:50
  Speaker 1: to and i said this very EARLY on when i
• 13:53
  Speaker 1: started my independent PODCAST here that i thought the entire
• 13:57
  Speaker 1: rollout of the first three months was just incompetent In
• 14:01
  Speaker 1: How this. White house ran the fact that they didn't
• 14:04
  Speaker 1: anticipate that them taking shortcuts was only going to make
• 14:08
  Speaker 1: the courts a huge impediment to them was something many.
• 14:11
  Speaker 1: Of us foresaw but the president had a sort of
• 14:16
  Speaker 1: a sixty to ninety day honeymoon period with. His own
• 14:19
  Speaker 1: party he had congressional Majorities, in the House. In the
• 14:22
  Speaker 1: senate he could have gotten A very compliant congress back
• 14:27
  Speaker 1: in the spring of twenty five to give. Him this
• 14:30
  Speaker 1: authority but he didn't. Do IT right and i think
• 14:33
  Speaker 1: it was because he knew there was. Some hesitance there
• 14:36
  Speaker 1: he knew that maybe he didn't want to risk losing
• 14:38
  Speaker 1: a vote where you might Have Guys like Chuck Grassley
• 14:41
  Speaker 1: and john thune, and you Know all these midwestern senators
• 14:44
  Speaker 1: going against. Him on this but he was at the
• 14:47
  Speaker 1: peak of his influential powers in the spring and when
• 14:52
  Speaker 1: he first in that first ninety days. Of his presidency
• 14:56
  Speaker 1: but he. Didn't do that and this is it's always
• 15:00
  Speaker 1: a reminder WHY it's why i sort of Reassure people
• 15:02
  Speaker 1: why i'm not as concerned about the long Term impact
• 15:07
  Speaker 1: of trump that Other people are trump is too lazy
• 15:11
  Speaker 1: to impose things for. The long term he's always in
• 15:16
  Speaker 1: a hurry to. Get a headline he's always in a
• 15:19
  Speaker 1: hurry to look like. He's doing something but he does
• 15:23
  Speaker 1: it with an executive order which can, easily be overturned
• 15:26
  Speaker 1: or he does it with an odd interpretation of congressional
• 15:30
  Speaker 1: authority which. Now got overturned and so the fact that
• 15:34
  Speaker 1: he didn't want to do this. The legitimate way he
• 15:36
  Speaker 1: was trying to find a shortcut to look like he
• 15:39
  Speaker 1: got early victories and that he could sort of bull those,
• 15:41
  Speaker 1: his way through he actually has made it a Lot
• 15:49
  Speaker 1: easier to this is a reminder that overturning some of
• 15:54
  Speaker 1: his sort of executive orders and his bad interpretations of
• 15:59
  Speaker 1: congressional authority are, not very difficult and so the change
• 16:03
  Speaker 1: he's trying to impose is going, to be actually in
• 16:06
  Speaker 1: some cases a lot easier to uproot because he's done
• 16:13
  Speaker 1: this with shortcuts in. The lazy way, but bottom line
• 16:19
  Speaker 1: good news for consumers and that ultimately right this is
• 16:23
  Speaker 1: there is a chance we could, see a flattening at
• 16:28
  Speaker 1: least a little bit more, of a flattening and maybe
• 16:30
  Speaker 1: the threat of continued inflation. Starts to abate but of
• 16:36
  Speaker 1: course the wild card. Is the president how, does he
• 16:40
  Speaker 1: react how does He try, to you know he never accepts,
• 16:43
  Speaker 1: losing very well and that uncertainty might table whatever potential
• 16:50
  Speaker 1: good news we may feel as Consumers or congressional republicans
• 16:54
  Speaker 1: may feel in that a bad idea might finally, be shown,
• 17:00
  Speaker 1: OFTEN all right i will Likely, see you monday unless
• 17:05
  Speaker 1: we start A war with iran a lot sooner than
• 17:09
  Speaker 1: many of. The experts believed