WEBVTT - The Supreme Court's Big Tariff Ruling 0:00:03.520 --> 0:00:06.360 My name is Charlie Kirk. I run the largest pro 0:00:06.400 --> 0:00:09.960 American student organization in the country, fighting for the future 0:00:10.080 --> 0:00:10.840 of our republic. 0:00:11.440 --> 0:00:14.320 My call is to fight evil and to proclaim truth. 0:00:14.600 --> 0:00:18.200 If the most important thing for you is just feeling good, 0:00:18.360 --> 0:00:21.160 you're gonna end up miserable. But if the most important 0:00:21.160 --> 0:00:25.160 thing is doing good, you'll end up purposeful. College is 0:00:25.200 --> 0:00:27.280 a scam, everybody. You got to stop sending your kids 0:00:27.360 --> 0:00:29.600 to college. You should get married as young as possible 0:00:29.600 --> 0:00:31.760 and have as many kids as possible. Go start at 0:00:31.800 --> 0:00:34.160 turning point, you would say college chapter. Go start aturning 0:00:34.159 --> 0:00:36.159 point youould say high school chapter. Go find out how 0:00:36.159 --> 0:00:37.280 your church can get involved. 0:00:37.440 --> 0:00:38.880 Sign up and become an activist. 0:00:39.000 --> 0:00:40.880 I gave my life to the Lord in fifth grade, 0:00:41.200 --> 0:00:43.879 most important decision I ever made in my life, and 0:00:43.920 --> 0:00:46.000 I encourage you to do the same. Here I am. 0:00:46.200 --> 0:00:47.120 Lord, Use me. 0:00:48.200 --> 0:00:57.400 Buckle up, everybody, Here we go. The Charlie Kirk Show 0:00:57.480 --> 0:01:01.400 is proudly sponsored by Preserved Gold, leading gold and silver 0:01:01.520 --> 0:01:05.480 experts and the only precious metals company I recommend to 0:01:05.560 --> 0:01:07.000 my family, friends and viewers. 0:01:09.520 --> 0:01:12.320 All right, welcome to the Charlie Kirk Show. It is 0:01:12.560 --> 0:01:16.360 February twentieth twenty twenty six. Today's lead is sometimes you 0:01:16.440 --> 0:01:17.960 have to come up with a lead, and sometimes the 0:01:18.040 --> 0:01:18.600 lead finds. 0:01:18.720 --> 0:01:22.200 Sometimes it is thrust upon you with great anticipation. 0:01:22.360 --> 0:01:25.280 And that is of course the tariff decision that has 0:01:25.319 --> 0:01:28.720 come down from the Supreme Court. Now we spent the 0:01:28.760 --> 0:01:33.280 morning pouring over this. We've got Jonathan Carney from Breitbart, 0:01:33.280 --> 0:01:35.840 who's kind of the resident tariff expert. He's going to 0:01:35.880 --> 0:01:39.120 be joining us any moment now, so I'm told. But 0:01:39.600 --> 0:01:42.800 this was a blockbuster decision that we had been waiting 0:01:42.800 --> 0:01:46.360 for now just to set the terms. This was any 0:01:46.400 --> 0:01:49.520 tariff that had been established by President Trump under what's 0:01:49.520 --> 0:01:54.080 called the IEEPA, which is essentially an emergency power that 0:01:54.240 --> 0:01:58.760 the president has been given by the Congress and he 0:01:58.880 --> 0:02:01.120 but it's never really been you to do tariffs. Now 0:02:01.200 --> 0:02:03.960 it's predecessor what was it called? It was like Training 0:02:04.040 --> 0:02:07.360 with the Enemy. Tradings with the Enemy Act was used 0:02:07.400 --> 0:02:10.280 one time in a limited fashion ten percent tariffs by 0:02:10.400 --> 0:02:14.800 President Nixon. So it's not completely without president but it 0:02:15.080 --> 0:02:18.639 the that law had been replaced by the iee PA 0:02:19.160 --> 0:02:20.840 and it had never been used by president in the 0:02:20.880 --> 0:02:23.200 way that President Trump was using. They have struck down 0:02:23.320 --> 0:02:26.919 President Trump's ability to do it. But there's so many wrinkles. 0:02:26.919 --> 0:02:28.600 So this is we should just just to set the 0:02:28.600 --> 0:02:29.120 stage here. 0:02:29.160 --> 0:02:32.120 This is mainly the this is the Liberation Day tariffs 0:02:32.120 --> 0:02:34.480 that were announced with great fanfare, and some of the 0:02:34.480 --> 0:02:38.320 reciprocal tariffs, yeah, about about ten months ago, as well 0:02:38.360 --> 0:02:41.600 as other terror the reciprocal tariffs. He did also a 0:02:41.639 --> 0:02:43.639 lot of what he was doing where you know, you'd 0:02:43.639 --> 0:02:47.280 see the president goes on truth social and reacts to 0:02:47.280 --> 0:02:49.240 something and says there will be a one hundred percent 0:02:49.280 --> 0:02:52.639 tariff on Canada or China. Until this has changed, a 0:02:52.680 --> 0:02:56.440 lot of those really aggressive tariffs that he would announce 0:02:56.480 --> 0:02:59.840 on short notice that's coming through this bill, the ie 0:03:00.600 --> 0:03:04.760 International Emergency Economic Powers Act, and what the Supreme Court 0:03:04.800 --> 0:03:07.680 ruled today, and it is a six to three ruling, 0:03:07.880 --> 0:03:11.919 so that involved of the justices who'd be considered more 0:03:12.000 --> 0:03:15.160 on the right. That we lost Roberts, we lost Gorsich, 0:03:15.200 --> 0:03:18.720 we lost Amy Comy Barrett. So that's two of President 0:03:18.760 --> 0:03:23.360 Trump's repicks in fact. And they said in essence that 0:03:24.880 --> 0:03:27.760 basically that the president's claim of power was too large, 0:03:28.360 --> 0:03:32.760 that the bill is not intended by Congress to allow 0:03:32.800 --> 0:03:37.680 the president to declare any emergency and thereby impose any tariff. 0:03:38.120 --> 0:03:40.840 So they imply, even in the ruling that if it 0:03:40.880 --> 0:03:43.000 had been if it had been more concrete, if he'd 0:03:43.040 --> 0:03:45.839 said these tariffs are maybe lower or for a more 0:03:45.880 --> 0:03:50.600 limited duration, temper probably would have held up stronger. They 0:03:50.600 --> 0:03:53.720 seem to take issue with what they say is the 0:03:53.720 --> 0:03:58.000 president claiming almost total unlimited authority, you might say, over 0:03:58.240 --> 0:04:00.400 the ability to regulate international time trade. 0:04:00.440 --> 0:04:04.960 And I think we have John Carney, Yes, we do, 0:04:05.000 --> 0:04:07.320 we have John. Welcome to the show. I know you 0:04:07.400 --> 0:04:10.160 got a busy morning. You're in hot demand this morning. 0:04:10.200 --> 0:04:13.480 With the tariff ruling, we've kind of set the stage 0:04:13.480 --> 0:04:16.320 here while we're waiting for you. The question then becomes 0:04:16.400 --> 0:04:19.680 what happens next. I've seen rumors that President Trump has 0:04:19.720 --> 0:04:23.400 a backup plan. Okay, so he can't do tariffs under 0:04:23.400 --> 0:04:26.039 ie E PA. We could disagree with that, We could 0:04:26.040 --> 0:04:28.119 agree with that. What happens next? 0:04:28.480 --> 0:04:32.960 So there are a number of plans. There's actually about 0:04:33.160 --> 0:04:37.480 six statutes that just on the face of themselves. 0:04:36.880 --> 0:04:39.720 Allow the president to impose tariffs. 0:04:40.400 --> 0:04:42.880 The reason why they wanted to do under AEPA, though, 0:04:42.920 --> 0:04:44.560 is there's a lot more. 0:04:45.960 --> 0:04:48.520 Procedural hurdles to these ones. 0:04:48.560 --> 0:04:51.040 So a lot of them you have to do multi 0:04:51.080 --> 0:04:54.440 month studies, but usually by the Commerce Department. 0:04:55.400 --> 0:04:56.960 Sometimes they have time limits. 0:04:57.000 --> 0:05:00.440 They can only be imposed for a little bit, so 0:05:00.720 --> 0:05:05.080 it'll be more complex. I've proposed something I call IASIS, 0:05:05.520 --> 0:05:09.640 which is a licensing regime that would actually link the 0:05:09.680 --> 0:05:14.080 ability of other countries to export to the US to 0:05:14.200 --> 0:05:17.560 a license fee that would totally be allowed under AEPA. 0:05:17.640 --> 0:05:20.480 So this is another thing that they can do under 0:05:20.520 --> 0:05:24.840 a EPA that the Administration hasn't yet fully considered. A 0:05:24.880 --> 0:05:28.800 big question to me is what do the other countries do? 0:05:30.080 --> 0:05:33.240 Remember a lot of them have lowered their own trade barriers, 0:05:33.400 --> 0:05:38.960 lowered their own tariffs in response to our threatening to 0:05:39.040 --> 0:05:41.679 raise tariffs. So the question is do they go back 0:05:41.720 --> 0:05:44.400 on this. If they do, I think that actually will 0:05:44.400 --> 0:05:49.600 provide a reason for Congress to actually give this authority 0:05:49.960 --> 0:05:53.159 to the US president. That's the clean way to resolve 0:05:53.200 --> 0:05:58.160 all this. Congress needs to enact Presidential Tariff authority tomorrow. 0:05:58.240 --> 0:06:01.120 Frankly, yeah, I think that's interesting. So you're saying you 0:06:01.160 --> 0:06:05.279 could enact in a license fee, which would essentially accomplish 0:06:05.360 --> 0:06:10.120 the exact same goal here. It would just be under 0:06:10.160 --> 0:06:12.520 a different name and That's kind of one of the 0:06:12.560 --> 0:06:16.680 pushbacks that Kavanaugh, who wrote the descent here, which is 0:06:16.720 --> 0:06:20.920 really fascinating. He basically says, although I firmly disagree with 0:06:20.960 --> 0:06:23.479 the Court's holdings, because he was the dissenter, the decision 0:06:23.560 --> 0:06:26.600 might not substantially constrain a president's ability to order tariffs 0:06:26.680 --> 0:06:30.400 going forward. That is because numerous other federal statutes authorize 0:06:30.440 --> 0:06:33.800 the president to impose tariffs and might justify most, if 0:06:33.800 --> 0:06:36.320 not all, of the tariffs at issue in this case. 0:06:36.720 --> 0:06:40.000 And then he goes on to list, which was I 0:06:40.040 --> 0:06:42.600 found interesting because he's basically giving a roadmap here. Those 0:06:42.600 --> 0:06:45.880 statutes include, for example, the Trade Expansion Act of nineteen 0:06:45.880 --> 0:06:48.720 sixty two, section two thirty two, the Trade Act of 0:06:48.800 --> 0:06:51.880 nineteen seventy four sections one, twenty two and two one, 0:06:51.960 --> 0:06:55.320 and the Teriff Act of nineteen thirty section three thirty eight. 0:06:55.320 --> 0:06:57.760 In essence, the Court today concludes that the President checked 0:06:57.760 --> 0:07:01.680 the wrong statutory box by real relying on AIPA rather 0:07:01.720 --> 0:07:06.239 than another statute to impose these tariffs. I it's so okay. 0:07:06.240 --> 0:07:08.040 I guess if we're going to go by the letter 0:07:08.080 --> 0:07:09.560 of the law, not by the spirit of it, this 0:07:09.680 --> 0:07:13.400 is probably in some ways you could consider the correct decision. 0:07:14.000 --> 0:07:17.440 But it's also bizarre and sort of insane, John, because 0:07:18.200 --> 0:07:22.160 there's other reasons to believe that he could ban all imports. 0:07:22.240 --> 0:07:24.119 The court is concluding he could just go to China. 0:07:24.320 --> 0:07:26.880 He could do that, We're gonna ban all imports from China, 0:07:26.920 --> 0:07:28.360 but we can't tear if you a penny. 0:07:28.400 --> 0:07:30.280 In fact, he seems to have more authority to do 0:07:30.280 --> 0:07:32.480 that even if he was just saying I am banning 0:07:32.920 --> 0:07:35.360 entire industries from coming into America. 0:07:35.400 --> 0:07:38.840 He could right, Yes, absolutely, that's a big problem. 0:07:39.200 --> 0:07:43.440 Kavanaugh actually points this out that there's that the majority 0:07:43.480 --> 0:07:47.480 decision basically says Trump is allowed to ban whatever he wants, 0:07:47.720 --> 0:07:50.680 but he can't oppose a one dollar tariff. That really 0:07:50.680 --> 0:07:53.920 doesn't make sense. I don't think it's correct as a 0:07:53.960 --> 0:07:59.600 matter of law. I think that the Kavanaugh Alito Thomas 0:07:59.680 --> 0:08:01.560 had the right view of the law in this. 0:08:02.080 --> 0:08:03.400 But it is the law. 0:08:03.440 --> 0:08:05.640 Now, you know, this is what the Supreme Court says. 0:08:05.680 --> 0:08:10.120 So the administration will look to all of these other powers, and. 0:08:10.080 --> 0:08:13.000 Believe me, they already were Everybody heard. 0:08:12.840 --> 0:08:16.000 The way that oral arguments weren't went. So this decision 0:08:16.000 --> 0:08:18.040 hasn't come to a as a surprise. 0:08:18.120 --> 0:08:20.000 To anyone. In fact, a lot of people. 0:08:20.280 --> 0:08:24.200 I mean, I would say the consensus was that the tariffs, 0:08:24.240 --> 0:08:25.160 at least all. 0:08:25.000 --> 0:08:27.160 Of the tariffs weren't going to survive. 0:08:27.640 --> 0:08:30.840 If there's any surprise, it's just how this is pretty 0:08:31.040 --> 0:08:33.680 you know, just says the president can't do this at all. 0:08:33.960 --> 0:08:36.920 There's a pretty blanket slopdown of the AEPA terffs. But 0:08:36.960 --> 0:08:40.200 like I said, even under AEPA, they could ban things, 0:08:40.240 --> 0:08:40.680 they could. 0:08:40.559 --> 0:08:43.280 Put license fees on things. So you can't use the 0:08:43.280 --> 0:08:44.280 magic word tariff. 0:08:45.640 --> 0:08:48.640 You know, we'll find another way to protect American Indusjon. 0:08:51.000 --> 0:08:53.600 The online world moves fast, and it's moving even faster 0:08:53.720 --> 0:08:57.640 these days. That's why TikTok approaches teen safety with families 0:08:57.679 --> 0:09:01.040 in mind from the start, because discovery and creativity are 0:09:01.320 --> 0:09:03.960 both wonderful things, but it's important to make sure that 0:09:04.000 --> 0:09:07.600 safety comes first as well. On TikTok, teenagers have over 0:09:07.640 --> 0:09:11.440 fifty built in protections right from when they join. Accounts 0:09:11.480 --> 0:09:14.120 routines all start private by default, They're not open to 0:09:14.160 --> 0:09:17.520 the entire world, and for those under sixteen, direct messages 0:09:17.559 --> 0:09:20.880 are turned off. Only their friends can comment on their videos. 0:09:21.240 --> 0:09:24.200 And that kind of approach matters because feeling confident and 0:09:24.240 --> 0:09:27.839 comfortable about these platforms your teenagers are on shouldn't mean 0:09:27.920 --> 0:09:29.960 digging through a bunch of menus and trying to set 0:09:29.960 --> 0:09:32.640 everything up yourself and worrying that you got it wrong. 0:09:33.160 --> 0:09:36.760 TikTok is taking a proactive approach. Their protections are built 0:09:36.760 --> 0:09:40.000 in from the moment those teenagers join, so that safety 0:09:40.040 --> 0:09:42.480 and peace of mind for parents is there right from 0:09:42.520 --> 0:09:45.480 the start. All of this is to say when safety 0:09:45.480 --> 0:09:49.840 comes first, discovery and creativity can follow without fear. Learn 0:09:49.880 --> 0:09:53.920 more by going to TikTok dot com slash guardians guide. 0:09:54.160 --> 0:10:00.679 That's TikTok dot com slash guardians Guide. 0:10:01.000 --> 0:10:06.120 John Carney from Breitbart major authority in hot demand. I 0:10:06.160 --> 0:10:08.120 called him early, though, and I got him as soon 0:10:08.120 --> 0:10:10.120 as this came down. I said, John, I need you, 0:10:10.200 --> 0:10:12.000 and you're like, I think I can make that work. 0:10:13.000 --> 0:10:14.720 All right, So what happens to the revenue? 0:10:15.000 --> 0:10:18.240 I will say, you know you, I'm very happy that 0:10:18.280 --> 0:10:20.040 you reached out right away, because you did get me. 0:10:20.720 --> 0:10:24.560 You were you were first, right after my own boss, 0:10:24.720 --> 0:10:26.120 Alex Marlowe. 0:10:26.760 --> 0:10:29.600 Well listen, he's got a wait, he's got a wait. 0:10:29.640 --> 0:10:32.679 We have business to attend you, So tell us about 0:10:32.720 --> 0:10:33.800 the revenue. Where's it going? 0:10:34.040 --> 0:10:36.000 So that remains to be seen. 0:10:36.080 --> 0:10:39.080 So we won't get any more revenue from then IIPA terriffs. 0:10:39.080 --> 0:10:41.559 So that's done. Those are coming off the books immediately. 0:10:42.160 --> 0:10:45.320 What happens to the say, call it somewhere between one 0:10:45.360 --> 0:10:48.320 hundred and fifty two hundred billion dollars that have been 0:10:48.440 --> 0:10:51.839 collected under these terps. So that's only, by the way, 0:10:51.920 --> 0:10:53.600 part of the revenue we've collected under jo I. 0:10:53.640 --> 0:10:55.880 Was gonna say say that number again, John, because it's 0:10:55.920 --> 0:10:59.760 about three hundred billion all in. How much was under AEPA. 0:11:00.360 --> 0:11:02.679 Between one hundred and seventy and two hundred like, call 0:11:02.679 --> 0:11:04.280 it one seventy as a good estimate. 0:11:05.200 --> 0:11:07.240 So some of that. 0:11:07.320 --> 0:11:10.920 May have to be refunded, but we don't know that yet. 0:11:11.040 --> 0:11:15.240 The Supreme Court's decision is actually totally silent on what 0:11:15.320 --> 0:11:18.440 happens next. Capito is like pretty critical of that. He's like, 0:11:18.480 --> 0:11:21.480 this could be a mess. It could actually take years 0:11:21.520 --> 0:11:24.240 of litigation because you'll have to prove that you paid 0:11:24.240 --> 0:11:26.199 the tariff, that you paid the tariff that was a 0:11:26.360 --> 0:11:29.560 NIPA tariff and not a different tariff, and there would 0:11:29.600 --> 0:11:31.760 be other considerations. 0:11:31.840 --> 0:11:35.480 It's not clear. You know that the money's going to 0:11:35.520 --> 0:11:36.480 go away right away. 0:11:37.200 --> 0:11:41.080 Uh, and so you know it'll that money won't come 0:11:41.120 --> 0:11:43.880 out of the US treasure. I'd say for quite a while. 0:11:44.640 --> 0:11:48.080 If I were a business entitled to the tariffs, what 0:11:48.120 --> 0:11:51.240 you what you did is you you basically made sure 0:11:51.280 --> 0:11:55.120 you had records showing exactly which tariffs you paid so 0:11:55.160 --> 0:11:57.200 that you can then come to the court later and say, 0:11:57.200 --> 0:11:58.120 please rec fund these. 0:11:58.559 --> 0:11:59.760 But it is going to be a mess. 0:12:00.559 --> 0:12:02.480 So we've got that. What number is that? Guys? I 0:12:02.520 --> 0:12:07.040 want that that that's the uh the refund quote from Kavanat, Yeah, 0:12:07.160 --> 0:12:09.120 get me that. Get me that. Well that this is 0:12:09.160 --> 0:12:11.160 so by the way, there's I believe this is Wharton 0:12:11.200 --> 0:12:14.800 School has done this. Yeah, Wharton UPenn has done that. 0:12:14.840 --> 0:12:19.240 This graph is an estimate of AIPA revenue and it 0:12:19.280 --> 0:12:23.560 has it at about one hundred and sixty four point 0:12:23.600 --> 0:12:27.079 seven billion a monthly revenue of twenty point eight billion 0:12:27.120 --> 0:12:30.839 dollars and they have it cumulative through January, so it's 0:12:30.880 --> 0:12:33.320 about it maybe is about a month delayed, so you're 0:12:33.320 --> 0:12:36.640 probably right about one seventy one seventy five on the I. 0:12:36.920 --> 0:12:38.640 Want to say, I just did that off the top 0:12:38.679 --> 0:12:39.240 of my head. 0:12:39.360 --> 0:12:41.920 So, uh, the fact that the Wharten School came in 0:12:42.040 --> 0:12:43.160 almost at the same number. 0:12:43.200 --> 0:12:44.360 I feel pretty good about that. 0:12:44.600 --> 0:12:46.840 That's pretty good, John. So you think this is going 0:12:46.920 --> 0:12:50.320 to be litigated, and apparently Wharton's School school is saying 0:12:51.080 --> 0:12:54.640 that importers generally have one hundred and eighty days after 0:12:54.720 --> 0:12:58.199 goods are liquidated to protest and request refunds from US 0:12:58.240 --> 0:13:03.520 Customs and Border Protection. So right, So the process is 0:13:04.160 --> 0:13:06.439 people paid the tariffs, they had to have. 0:13:06.559 --> 0:13:11.480 Submitted a basically a piece of paper saying I don't 0:13:11.480 --> 0:13:12.880 think I should have paid that tariff. 0:13:13.880 --> 0:13:16.199 One unfortunate think about that is, Look, the. 0:13:16.280 --> 0:13:21.400 Really big importers, big companies Walmart, the international companies that 0:13:21.480 --> 0:13:24.960 import stuff into the euth They've already filed that paperwork. 0:13:25.400 --> 0:13:28.120 It's really actually going to be the small guys who 0:13:28.160 --> 0:13:32.560 really get kind of messed around with here because they 0:13:32.960 --> 0:13:36.400 they probably didn't file the paperwork and or some of 0:13:36.440 --> 0:13:39.400 them didn't. Luckily, Look, you get one hundred and eighty days. 0:13:39.760 --> 0:13:42.360 So some of the tariffs that have been paid will 0:13:42.400 --> 0:13:45.320 still be eligible for refunds. But we again, we don't 0:13:45.440 --> 0:13:48.719 know what the refund process will look like. As far 0:13:48.720 --> 0:13:52.720 as I know, we've never had anything missed big where 0:13:52.880 --> 0:13:56.040 you know, you know, one hundred and fifty billion dollars, 0:13:56.040 --> 0:13:59.599 one hundred and seventy billion dollars is potentially being refunded 0:13:59.640 --> 0:14:03.079 to the people who you know, who paid the tariffs 0:14:03.080 --> 0:14:03.840 in the first place. 0:14:03.960 --> 0:14:07.160 Yeah, it's it's a it's I think Kavanaugh refers to 0:14:07.200 --> 0:14:08.439 it as a mess. 0:14:08.480 --> 0:14:11.640 Just he do he Yeah, and he even flags you know, 0:14:11.679 --> 0:14:14.920 there's issues a lot of imports probably already passed costs 0:14:14.920 --> 0:14:17.839 on to consumers at some point here, but now you 0:14:17.840 --> 0:14:20.080 know they can double dip from that. What does it 0:14:20.160 --> 0:14:22.320 do to all of our trade dealers with other countries 0:14:22.360 --> 0:14:23.760 that were premised on these tariffs. 0:14:23.760 --> 0:14:24.760 Do those stick around? 0:14:25.400 --> 0:14:25.680 Uh? 0:14:25.760 --> 0:14:26.400 He really? 0:14:26.440 --> 0:14:29.000 Just the truth is, it seems we don't know what 0:14:29.080 --> 0:14:30.440 is going to be unleashed by this. 0:14:30.440 --> 0:14:31.720 This is I will say. 0:14:31.520 --> 0:14:35.040 That if other countries start to start to say no, no, 0:14:35.040 --> 0:14:37.920 now we're taking back. We're going to raise our tariffs again, 0:14:37.960 --> 0:14:40.840 We're going to raise our trade barriers, that will at 0:14:40.920 --> 0:14:43.600 least be a moral victory for Donald Trump because he'll 0:14:43.600 --> 0:14:46.040 be able to say they did this because I imposed 0:14:46.080 --> 0:14:49.440 the tariffs. Now they're taking it away because the Supreme 0:14:49.440 --> 0:14:52.520 Court took away the tariffs. And that should be persuasive 0:14:52.560 --> 0:14:57.640 to Congress to actually absolutely come back because this Remember 0:14:57.680 --> 0:15:00.480 the court here did not say the president could not 0:15:00.600 --> 0:15:02.080 do this under the constitution. 0:15:02.800 --> 0:15:05.240 They said that the statute didn't authorize it. 0:15:05.760 --> 0:15:09.720 So Congress with one word in certain tariffs into a EPA, 0:15:10.440 --> 0:15:13.680 just one word amendment, and Trump would have the power 0:15:13.720 --> 0:15:14.080 to do it. 0:15:14.440 --> 0:15:17.880 Yeah, it's it's literally because in some of the oral arguments, 0:15:18.320 --> 0:15:21.760 as you mentioned, they just said, well, it doesn't say tariffs. 0:15:21.480 --> 0:15:24.200 So that's the whole point, even though like in the 0:15:24.240 --> 0:15:26.440 spirit of the law, it certainly indicates that he would 0:15:26.480 --> 0:15:30.960 be Now so just to read exactly what Kavanaugh said, 0:15:31.000 --> 0:15:32.680 I got the quote here. In the meantime, however, the 0:15:32.720 --> 0:15:35.960 interim effects of this Court's decision could be substantial. The 0:15:36.040 --> 0:15:38.840 United States may be required to refund billions of dollars 0:15:38.880 --> 0:15:41.200 to importers who paid the IEPA tariffs, even though some 0:15:41.280 --> 0:15:45.640 importers may have already passed on costs to consumers or others. So, 0:15:45.920 --> 0:15:49.360 you know, their whole argument was that Americans absorbed these taxes. 0:15:50.000 --> 0:15:52.400 That is probably not one hundred percent truth. It's probably 0:15:52.400 --> 0:15:55.720 about an eighty twenty import to American consumers twenty percent. 0:15:56.560 --> 0:15:59.680 But if let's assume that they were right about that. 0:16:00.120 --> 0:16:02.600 Then Americans are basically going to get double tax because 0:16:02.600 --> 0:16:05.960 of this this court decision, which is hilarious. He goes 0:16:06.000 --> 0:16:09.000 as acknowledged an oral argument. The refund process is likely 0:16:09.080 --> 0:16:12.080 to be a mess, last word to you, John. 0:16:13.200 --> 0:16:15.680 And it will a lot of this money is actually 0:16:15.720 --> 0:16:19.080 going to leave the US altogether because a huge amount 0:16:19.200 --> 0:16:22.080 of imports are actually done through foreign companies and their 0:16:22.200 --> 0:16:25.040 US affiliates, So it's actually going to be payments going 0:16:25.080 --> 0:16:26.200 to foreigners. 0:16:25.720 --> 0:16:27.280 As well, which is really unfortunate. 0:16:27.480 --> 0:16:32.359 It'll be a drag on the economy, and like like 0:16:32.360 --> 0:16:34.680 like Justice Capito said, it's going to be a mess 0:16:34.720 --> 0:16:37.920 going forward, but I imagine that will get very soon Trump 0:16:38.000 --> 0:16:40.040 announcing the new. 0:16:39.840 --> 0:16:41.520 Tariffs because they've been working on this. 0:16:41.560 --> 0:16:44.880 They have Conde exactly. Trump has a backup plan. Everybody, 0:16:45.120 --> 0:16:47.440 he has a backup plan. I would also say that 0:16:47.840 --> 0:16:49.680 we have just gotten word that he has a twelve 0:16:49.800 --> 0:16:52.520 forty five Eastern press conference that we're going to be 0:16:52.520 --> 0:16:57.200 looking for on this tariff decision. So twelve forty five, 0:16:57.280 --> 0:17:00.440 stay right here, we'll have it on real America's voice. John, 0:17:00.520 --> 0:17:02.960 I know you gotta go. You've got you got Marlowe. 0:17:03.120 --> 0:17:05.280 Uh probably screaming at you already, So tell him hi 0:17:05.400 --> 0:17:07.520 for us, Thank you for making it here. We know 0:17:07.560 --> 0:17:10.760 you got a busy morning. Jonathan Carney, Breitbart Economics editor. 0:17:10.800 --> 0:17:14.080 There you go, all right, So. 0:17:14.520 --> 0:17:17.480 We got an email. Kathy asked, is the possibility of 0:17:17.480 --> 0:17:19.560 refunding tariffs to the importers? A lot of them have 0:17:19.600 --> 0:17:22.600 passed costs onto consumers. Do the consumers get a refund? 0:17:22.680 --> 0:17:27.879 Also? The answer is no, nope, nope, No, it's consumers. 0:17:27.880 --> 0:17:30.400 The man gets screwed. This This is here's the thing. 0:17:31.440 --> 0:17:35.399 Cavanaugh went through trial by fire, the whole what was 0:17:35.400 --> 0:17:37.080 her name, uh, Betsy? 0:17:37.840 --> 0:17:38.000 Oh? 0:17:38.760 --> 0:17:42.160 What was Christine Blozi Ford? Christine Bla two front doors? 0:17:42.400 --> 0:17:44.920 She the whole thing, you know that where he went 0:17:44.960 --> 0:17:48.040 through a trial by fire. The guy's got steeled down 0:17:48.080 --> 0:17:51.520 his spine. Now everybody doubted him at first. Meanwhile, Gorsic 0:17:51.960 --> 0:17:57.359 in ACB, two other Trump appointees going against the president. Listen, 0:17:57.760 --> 0:18:00.720 you could make the argument that per perhaps this was 0:18:00.960 --> 0:18:04.560 textually just the right decision by the letter of the law, 0:18:04.680 --> 0:18:07.760 but it's there's a measure of insanity to it, because 0:18:07.800 --> 0:18:09.560 you could just ban all the imports. You can't tear 0:18:09.560 --> 0:18:14.480 if from a single Penny. If you knew Charlie Kirk, 0:18:14.800 --> 0:18:18.359 you knew this. He was a connector. Charlie believed in 0:18:18.400 --> 0:18:21.040 finding good people and connecting them with other good people 0:18:21.040 --> 0:18:23.560 that he cared about. When someone truly took care of him, 0:18:23.640 --> 0:18:26.639 Charlie would never hesitate to recommend them. Andrew Delray and 0:18:26.680 --> 0:18:29.440 Todd of Akin were two of those people. They personally 0:18:29.440 --> 0:18:31.879 helped Charlie and Erica with their mortgage needs, and Charlie 0:18:31.920 --> 0:18:34.920 trusted them completely. Whether it was a home buyer trying 0:18:34.960 --> 0:18:37.920 to qualify or someone needing to consolidate debt or see 0:18:37.920 --> 0:18:40.320 if they could get a lower rate in payments. These 0:18:40.320 --> 0:18:43.000 were the guys Charlie sent people to and right now, 0:18:43.359 --> 0:18:46.640 timing matters. The market has shifted and rates have come down. 0:18:46.680 --> 0:18:50.320 There's more inventory, bidding wars have cooled, and buyers finally 0:18:50.359 --> 0:18:52.959 have more control. But that window won't stay open forever. 0:18:53.000 --> 0:18:56.680 As rates come down, competition will return. That's why being 0:18:56.680 --> 0:18:59.320 prepared now is so important. Andrew and Todd at Union 0:18:59.320 --> 0:19:03.080 Home Mortgage over forty years of combined experience and guide 0:19:03.119 --> 0:19:06.160 you through the process clearly, no pressure, no guesswork. These 0:19:06.240 --> 0:19:08.720 are the people Charlie trusted, and they're the people you 0:19:09.000 --> 0:19:09.600 can count on. 0:19:09.840 --> 0:19:12.919 Reach out today to get approved for mortgage financing with 0:19:12.960 --> 0:19:15.960 Andrew and Todd at Andrewintodd dot com or called Triple 0:19:16.000 --> 0:19:19.120 eight Triple eight eleven seventy two with forty years of experience. 0:19:19.160 --> 0:19:21.359 They really are the experts and they make it easy 0:19:21.359 --> 0:19:24.200 because they keep everything in house called Triple Light Triple 0:19:24.240 --> 0:19:27.040 eight eleven seventy two or go to Andrewintodd dot com. 0:19:27.040 --> 0:19:30.760 That is Andrewintodd dot com. 0:19:30.960 --> 0:19:37.000 Joining us now is Mark Halprin, a great, great political 0:19:37.040 --> 0:19:39.600 analyst and commentator and a friend of the show. Mark, 0:19:39.680 --> 0:19:43.320 Welcome back to the show. Lots to discuss this morning 0:19:43.400 --> 0:19:47.520 thoughts with the you know, the Supreme Courts ruling on 0:19:47.640 --> 0:19:50.680 President Trump's use of tariffs. I have all this other 0:19:50.680 --> 0:19:52.679 stuff I was planning on talking to you about, and 0:19:52.720 --> 0:19:58.000 then this came across the wire. Give us the political implications. 0:19:58.040 --> 0:20:00.320 I know there's questions about canny Still do te ariffs? 0:20:00.359 --> 0:20:02.199 Can you use other mechanisms? What do we do with 0:20:02.240 --> 0:20:04.600 the revenue that came in? What happens with that? Is 0:20:04.600 --> 0:20:07.520 it go to a lower court, et cetera, et cetera? Politically? 0:20:07.560 --> 0:20:08.240 What does it mean? 0:20:08.560 --> 0:20:10.720 Well, first, saw, let me just tip let I miss you. Guys, 0:20:11.040 --> 0:20:13.000 haven't heard from you in a while. Haven't heard from 0:20:13.000 --> 0:20:14.600 you in a while. Good to hear from you. 0:20:15.000 --> 0:20:17.600 I'll call you every week. Mark we'll have you. We'll 0:20:17.680 --> 0:20:20.040 just make a standing in but good. 0:20:20.200 --> 0:20:20.679 I'd like that. 0:20:21.760 --> 0:20:23.920 So my first thought, just trying to be in the 0:20:23.960 --> 0:20:25.720 mind of the president, is he's going to be super 0:20:25.760 --> 0:20:27.800 annoyed at the Chief Justice. 0:20:27.840 --> 0:20:30.119 But he didn't pick the Chief Justice. He inherited it. 0:20:30.560 --> 0:20:32.840 But two of the three justices the president put on 0:20:32.840 --> 0:20:36.800 the court voted against him, Gorsicch and Cony Barrett. So 0:20:37.240 --> 0:20:40.320