March 22, 2026
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9:36Now PlayingAttorneys Brian Kabateck and Shant Karnikian break down Trump's latest attempt to impose global tariffs — weeks after the Supreme Court ruled 6-3 that his previous tariffs under the IEEPA were unconstitutional. This time he's using Section 122 of the 1974 Trade Act, which allows temporary tariffs up to 15% for 150 days — but only during a "large and serious balance of payments deficit." The problem: no such deficit exists. The statute was written for 1970s-era currency crises tied to fixed exchange rates; today's floating exchange rate system makes the scenario it was designed for essentially impossible. The Liberty Justice Center — the same libertarian legal organization that beat Trump the first time — has already filed a new lawsuit in the U.S. Court of International Trade. Twenty-four Democratic states have filed a near-identical challenge. The hosts argue the authority Trump is invoking is actually narrower than what the Supreme Court already struck down, and that the court will reach the same conclusion. They note Trump publicly announced he'd find an end run around the ruling — something the court will see as an admission he's trying to do the same thing under a different name. Meanwhile, the tariffs are driving up costs for American businesses and consumers, with even MAGA Republicans saying they didn't vote for this.
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