If Ryan is correct?
Donald Trump would have the first SERIOUS rug pulled out from under him by the High Court….
We’ll see….
Alito and his crew have steadfastly allowing the ‘Don’ to do mostly what he wants…..
Lotta people would be VERY Happy though…
Them tariff’s will be a heavy tax burden on America and the Economy….
Former House Speaker Paul Ryan (R-Wis.) is predicting further disruptions to President Trump’s wide-ranging tariff regime, with consequences for financial markets.
He said Wednesday that Trump’s emergency tariff authority, which is the legal basis for Trump’s country-specific “reciprocal” tariffs that are set to go into effect Thursday, is likely to be struck down by the Supreme Court.
An appeals court is reviewing that authority, which Trump invoked through the 1977 International Emergency Economic Powers Act (IEEPA), becoming the first president in history to use the law for tariffs.
“It’s more than likely that the Supreme Court knocks out IEEPA, the law that’s being used for these tariffs, which doesn’t have the word ‘tariff’ in it. Then the president is going to have to go to other laws to justify tariffs — 232, 201, 301. There’s a bunch of laws, and those are harder laws to operate with,” he told CNBC.
Financial markets, which took a dive earlier in the year as a result of the tariffs and then bounced back to record highs, are assuming that the general shape of the new tariff regime is in place, but that assumption could be wrong, Ryan warned….
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Federal judges on the Washington-based Federal Circuit Court of Appeals raised their eyebrows at the president’s use of IEEPA last week.
“It’s just hard for me to see that Congress intended to give the president in IEEPA the wholesale authority to throw out the tariff schedule that Congress has adopted after years of careful work and revise every one of these tariff rates,” Judge Timothy Dyk said.
The economic effects of Trump’s policies are starting to show up in the economic data….