Many Highly-Esteemed Legal Minds Say It's A Near Certainty Trump's IEEPA-Invoked Tariffs Will Be Bounced Out By The Supremes. Then What?

The guy is (and this is actually turning out to be a redeeming feature! Not a bug!), without any doubt -- the least competent person to ever sit at the Resolute Desk. His tariffs, taking effect today, are likely to be halted (this time by a 5-4 majority of the Supremes) by the Fall. As we've said repeatedly, this is a corrupt clown show.

Geez -- here's just a bit of one version of this analysis. [There are dozens out right now.]

. . .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. . . .

And in the mean time, this represents the largest single tax increase on American workers and businesses. . . in the history of the United States. Damn.

[And yes, I intentionally chose the otherwise odious Paul Ryan version so that the idjit GOP-ers cannot say it is only lefties making this argument.] Out.

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