Latest / NO FILTER / _Biggest trade war since the Great Depression__ Small business sue Trump over tariffs(MP3_160K)

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_Biggest trade war since the Great Depression__ Small business sue Trump over tariffs(MP3_160K) · NO FILTER

• 0:00
  Speaker 1: Joining me now is Elia Sohman, representing five small US
• 0:03
  Speaker 1: businesses challenging the president's tariffs in courts.
• 0:07
  Speaker 2: Is also the.
• 0:07
  Speaker 1: Cato Institute's Chair of Constitutional Studies. It's good to see you, Eliah.
• 0:11
  Speaker 1: I'm sure yesterday's ruling from the Appeals Court reinstating Trump's
• 0:15
  Speaker 1: tariffs was disappointing, So let me start with what do
• 0:19
  Speaker 1: you do now.
• 0:20
  Speaker 2: I'll say that it's only slightly disappointing because all it
• 0:24
  Speaker 2: is is so called administrative stay. It's a brief stay
• 0:28
  Speaker 2: so that the court can consider whether there should be
• 0:31
  Speaker 2: a longer, more permanent stay that would last until the
• 0:34
  Speaker 2: litigation is fully over. But we are going to oppose
• 0:37
  Speaker 2: the imposition of a more permanent stay, and we hope
• 0:40
  Speaker 2: the administrative stay will therefore be lifted within a couple
• 0:43
  Speaker 2: of weeks or so.
• 0:44
  Speaker 1: Do you ultimately see this ending up in front of
• 0:46
  Speaker 1: the Supreme Court.
• 0:48
  Speaker 2: I don't know. It's possible. Obviously the case is of
• 0:51
  Speaker 2: great importance, but the Supreme Court decides for itself whether
• 0:55
  Speaker 2: they want to take cases or not. If they do
• 0:57
  Speaker 2: go there, we hope that they will see, as the
• 0:59
  Speaker 2: Court of International Trade did that the President's claimed the
• 1:03
  Speaker 2: virtually unlimited tariff authority is not supported by the law
• 1:07
  Speaker 2: and would be unconstitutional if any wad did try to
• 1:10
  Speaker 2: give him that kind of power.
• 1:12
  Speaker 1: You know, the whiplash that we're all feeling, you know,
• 1:14
  Speaker 1: whether you have a four to oh one k or
• 1:16
  Speaker 1: people who are just covering, you know, following the tariff
• 1:19
  Speaker 1: news does not compare to the uncertainty being faced by
• 1:23
  Speaker 1: businesses that you represent. Your lead playing diff in the
• 1:26
  Speaker 1: case Victor Owen Schwartz owns a wine company, and this
• 1:29
  Speaker 1: is what he had to say earlier today. What do
• 1:33
  Speaker 1: we do now?
• 1:34
  Speaker 3: We wake up and rub our crystal ball and try
• 1:37
  Speaker 3: to figure out what the tariffs are going to be
• 1:38
  Speaker 3: this morning.
• 1:39
  Speaker 2: We have to do so.
• 1:39
  Speaker 3: Much planning in advance, and then when you have something
• 1:42
  Speaker 3: as impactful as a ten fifty percent tariff, whatever mister
• 1:47
  Speaker 3: Trump decides that morning, you have to have the cash
• 1:52
  Speaker 3: to pay for that. We don't get our we don't
• 1:53
  Speaker 3: get our goods out of the port until we pay.
• 1:56
  Speaker 1: And it hasn't cost more money already.
• 1:58
  Speaker 3: Of course, it's costs more money. You know. We have
• 2:01
  Speaker 3: to plan for that, and our costs are going up.
• 2:05
  Speaker 1: As you talk to these folks who you are representing
• 2:08
  Speaker 1: do you say, hang in there for weeks months? I
• 2:13
  Speaker 1: can't tell you how long you're going to need to
• 2:14
  Speaker 1: hang in there. What are the conversations like that? Obviously
• 2:18
  Speaker 1: don't break attorney client privilege.
• 2:21
  Speaker 2: So as you say UNFOTUAE, I cannot reveal conversation or
• 2:24
  Speaker 2: clients because they're covered by attorney client privilege. But what
• 2:28
  Speaker 2: I will say is this that it's not only our clients,
• 2:30
  Speaker 2: but businesses around the country that are suffering the whiplash
• 2:34
  Speaker 2: as you call it. This is one of the reasons
• 2:36
  Speaker 2: why we should not have a system where one man
• 2:39
  Speaker 2: can set tariff policy anytime he wants, can impose tariffs
• 2:43
  Speaker 2: for lift him anytime he feels like it. The Constitution
• 2:46
  Speaker 2: gives Congress, not the president, the power to set tariffs,
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  Speaker 2: and one reason why so that there's no one person
• 2:52
  Speaker 2: who has complete control over the system and can manipulate
• 2:56
  Speaker 2: it based on his day to day whims. If he
• 2:58
  Speaker 2: wakes up on the wrong side of his bed he
• 3:00
  Speaker 2: decides to impose tariffs on foreign movie that he's threatened
• 3:04
  Speaker 2: to do, or on iPhones, and then with them or
• 3:06
  Speaker 2: impose them on something else. We should have the rule
• 3:09
  Speaker 2: of law in our system of international trade not the
• 3:12
  Speaker 2: rule of any one man.
• 3:14
  Speaker 1: For people who follow politics closely, they may maybe be
• 3:17
  Speaker 1: surprised to see someone from the Cato Institute involved, since
• 3:21
  Speaker 1: CATO has been a ca defender of largely Republican policies.
• 3:25
  Speaker 1: So I wonder, though, if you can give us insight.
• 3:28
  Speaker 1: I imagine there are a lot of folks who would
• 3:30
  Speaker 1: like to be represented by the quality of lawyering, and
• 3:34
  Speaker 1: you have to make decisions about that. Why this case,
• 3:37
  Speaker 1: Why was it important enough for CATO to get involved.
• 3:40
  Speaker 2: So I would note I'm not representing them in my
• 3:43
  Speaker 2: role at CATO. CATO does not wintigate cases. I'm representing
• 3:47
  Speaker 2: them as just an individual lawyer. My main job is
• 3:50
  Speaker 2: a professor at who has Mace University. That said, Cato,
• 3:54
  Speaker 2: we are not Republicans or Democrats. We are libertarians. We
• 3:57
  Speaker 2: support free markets and individual liberty, and we oppose the
• 4:01
  Speaker 2: poetical right or the political left when they threatened free
• 4:04
  Speaker 2: markets and liberty. And obviously Trump starting the biggest trade
• 4:07
  Speaker 2: war since the Great Depression is the kind of thing
• 4:10
  Speaker 2: that we can be expected to oppose, since we have
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  Speaker 2: for decades, since long before I was a CATO have
• 4:15
  Speaker 2: supported free trade.
• 4:17
  Speaker 1: Helia Soeman and a very important story that so many
• 4:21
  Speaker 1: people are following. Thank you so much for taking the
• 4:23
  Speaker 1: time to
• 4:23
  Speaker 2: Talk to us, Thank you for having me on