And just moments ago, we got word from a
US appeals court. This is breaking. The
court found the president's global
tariffs were found to be illegal. The
court finding Trump exceeded his
authority in imposing the tariffs,
upholding an earlier ruling by the court
of international trade that ruled Trump
wrongfully invoked an emergency law to
issue the tariffs. This is a major
development at 5:30 p.m. Eastern time.
And with us now to discuss that and
more, this evening's political panel.
Bloomberg politics contributors Rick
Davis, partner at Stone Court Capital,
our Republican strategist alongside
Democratic analyst Jeannie Shanzeno.
Democracy visiting fellow at Harvard's
Kennedy School's Ash Center. Rick,
Jeanie didn't know we'd be talking about
this, but that's the way it goes around
here. The tariffs are illegal. Does
Donald Trump care?
>> Uh, I think Donald Trump will care. I
mean, abide by the courts.
>> He he likes to show force, right? And
the emergency powers gave him that. But
he does have other mechanisms to uh
implement some portion of those tariffs.
He might not be able to do all of them
with every country that he had had under
a tariff regime. Yes.
>> But programs like, you know, section 301
and others give him the ability alone,
you know, the power uh of the executive
branch to implement some of those
tariffs. So there'll probably be a, you
know, new regime put into place while
they appeal this decision.
>> Fair enough. So over the weekend, Genie,
uh these tariffs may be lift, but but in
the coming hours, the administration
finds an alternative, a different
argument because it's the emergency that
the court is ruling on here.
>> That That's right. And and that was
always suspect. And you know, reading
the statute, it was very very hard to
imagine that the court would that
support a declaration of an emergency.
Um, you know, he talked about an
emergency for things like the federal de
the trade deficit for instance, but yet
that has been going on for decades and
decades, hardly constituting an
emergency. So, it was always an uphill
battle for the administration. They will
certainly appeal. And of course, this is
part of what the administration's going
to have to contend with and consumers
and businesses around the world,
countries around the world. this
uncertainty as it pertains to tariffs.
This is what the president took on when
he announced this regime.