Court Blocks Tariffs, Creating Economic Uncertainty

0:00 Speaker 1 Sunday morning, Well, what happened in the markets? Well, it was a roller coaster for a while with us today is John Cherrit give us your.

0:08 Speaker 2 Report, Gimali. Well, there’s albably only one story, and that was Friday’s Scotis that’s been of course, that six’ to three majority against The president’s. Tariffs The court was asked to desire Whether President trump used the i, epause those emergency laws granted to all presidents From carter onwards in seventy nine for, tariffs whether that was legal or, not

0:28 and if it, was did the emergency he was talking, about i. E the imposition of tariffs raised to the level of an unusual and extraordinary. Threat, well The court said, no and Now President trump can’t even charge countries trying to import here even one. Dollar he said it was a disgraceful, decision and the outlined, alternatives though they won’t

0:45 be as easy and smooth as the tariffs stutter I epo. Were president said it was deeply disappointed and ashamed of certain members of The Supreme. Court he said they’d be dancing in the street in foreign countries that have been ripped off for. Years he said alternatives will be, You he, said the income Into america will increase even after this

1:03 different because he’s going to even, methods, practices and authorities that make it even stronger to tariff countries from overseas than it was possible WITH iepa. Laws it’s very certainty had returned to THE us. Economy he immediately over ten percent local tariff across the. Board he’s going to be used The Trade Expansion act of staty to A Trade

1:22 act of seventy, four The Tariff’s act of nineteen thirty to do all of this, Now. John what the court did not discuss at all was how companies who’ve been covering these tariffs since Last april will pay, back names like FOUR gm And. Costco they’re going to have to file, Paperwork they’re going to have to line up in the.

1:38 Courts it could take a. Year At trump On friday suggested it may even take five. Years Justin, cavanah one of the justices who sided With President, trump said he thought the whole thing could be a best away from.

1:48 Tariffs On, friday we GOT gdp that’s growth that was weaker than. Expected we’ve GOT pcee inflation that was hotter than. Expected the markets didn’t really. Rally we thought there might be a big sell, off there. Wasn’t in the. Air and the crypto story of the, week the big cryptocurrency event going on involving Book chain as well In, Denver

2:06 colorado that’s attended by crypto, fans not so much the executives From Wall. Street and so to the week, Ahead, well it’s The state of A union On, tuesday and you’ve got to Believe President trump is going to look those justices squarely in the eye from the podium The house On tuesday. Evening and then the next, Day, wednesday

2:22 the twenty, fifth we Get, nvidiat the, chipmaker with their latest set of. Earnings job, well thank you very much for the.

2:28 Speaker 1 UPDATE i THINK i don’t think The Supreme court did their homework enough because he had so many alternatives to. Do President, trump as a matter of, fact said On friday, afternoon he, says we’re going to charge everybody ten percent and then and it’s less fair versus, warfare and then, well whatever happens.

2:53 Speaker 2 Happens, Well President trump said that he didn’t think that what is going to happen is what The Supreme court expected to happen after they made the, rule and AS i said in my report, there he’s turning to all sorts of, alternatives you, know things that he caused different, authorities different, methods different practices in order really to keep

3:11 the tariffs, going but just in a different.

3:13 Speaker 1 Form thank you so, much and let’s catch up again next.

3:18 Speaker 2 Week, yep see you someday. Again thanks very, Much, john