58: Alan Tonelson discusses the Supreme Court oral arguments concerning the President's authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA). The administration ar

Alan Tonelson discusses the Supreme Court oral arguments concerning the President's authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA). The administration argues the President can invoke IEEPA due to emergencies like fentanyl and trade deficits. Tonelson finds arguments against including tariffs under IEEPA's regulatory language "jaw-dropping." He stresses that the President must have sole control over declaring foreign policy emergencies, necessary for rapid response. If rejected, the President has other longstanding tariffing powers. 1883 WALL STREET