Donald Trump lost an important case before the Supreme Court as the majority of the court ruled that a president does not have unlimited power, and tossed out his ability to impose reciprocal tariffs based on his whims.
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Watch me discuss Trump’s loss of power in the video below:
At his press conference response on Friday, Trump suggested that he has other tools to use to impose tariffs, and said that the Supreme Court gave him the power to destroy economies, which is not true, but the president is mad, and he is desperate to prove that he still has power, so Trump announced on Friday a new global tariff of 10%s. The statutory authority that Trump used is limited, and any new tariffs will expire in August.
Trump’s need to look strong has combined with his ignorance about tariffs to lead him to post on Truth Social on Saturday:
Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level. During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again – GREATER THAN EVER BEFORE!!!
The problem is that Trump has responded to losing the tariff case by raising prices on the American people.
Trump is more interested in looking strong than in actual policy, and as we will see below, he is wrong on both counts.