“Embarrassments To Their Families” - Trump TORCHES Supreme Court In EXPLOSIVE Tariff Fallout
Episode Stats
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Summary
Trump announces 15% tariffs on some of the world's biggest economies. Rob and Tom discuss the Supreme Court's ruling, the impact on the economy, and the role of leadership in this matter. They also discuss Rand Paul's comments on the matter, and Scott Besson's criticism of Trump.
Transcript
00:00:04.660
Obviously, we know what happened with Supreme Court ruling 6-3 against the tariffs.
00:00:11.760
Rob, if you want to pull that up, Truth Social.
00:00:13.640
Tom, I'm going to come to you first on this one here.
00:00:15.300
The one on the lower case, Rob, that we had this morning we were looking at.
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Based on a thorough, detailed, and complete review of the ridiculous, poorly written,
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an extraordinarily anti-American decision tariffs issued yesterday after months of contemplation
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Please let the statement, sir, that I, the president of the United States,
00:00:36.080
will be effective immediately raising the 10 percent worldwide tariffs on countries,
00:00:39.560
many of which have been ripping the U.S. for decades without retribution
00:00:43.000
until I came along to the fully allowed and legally tested 15 percent level.
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During the next short number of months, the Trump administration will determine
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and issue the new and legally permissible tariffs, which will continue our extraordinary,
00:00:57.120
successful process of making America great again, greater than ever before.
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Thank you for your attention to this matter, President Donald J. Trump.
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Rob, there's another tweet as well that he did towards tariffs, if I'm not mistaken,
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My new hero in the United Supreme Court is Justice Brett Kavanaugh and, of course,
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There is no doubt in anyone's mind that they want to make America great again.
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Tom, where are you at with this now after the announcement that was made last Friday was sudden?
00:01:34.840
This is where he calls out Neil Gorsuch and Amy Coney Barrett.
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Whether people like it or not never seems to happen with Democrats.
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They vote against Republicans and never against themselves almost every single time,
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At least I didn't appoint Roberts, who led the efforts to allow foreign countries
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that have been ripping us off for years to continue to do so, but we won't let it happen.
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The new tariffs totally tested and accepted as law are on their way.
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First of all, in the midst of the cacophony, you had Rand Paul step up and said,
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look, we don't want a president to use executive order when the power of executive order isn't there
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because the precedent is when we have a liberal president or somebody from the other side,
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you're going to get stuff coming back the other way.
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But Rand Paul is not necessarily, you know, anti-tariff.
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I get that we don't want to use the executive order if there's not authority.
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However, on the other side, we have been doing nothing.
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And what President Trump showed was leadership on tariffs, which I agreed with.
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We got people that come to the negotiating table and got things shifted that he's right.
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For we had decades, certain industries were at disadvantage and our own government didn't
00:03:01.280
care about our own people in our own industries that were going through it.
00:03:06.880
Now, what I don't like is the politicization of with ignorance and the politicization with
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ignorance is the Dems and the liberals that think, ha ha, we stopped Trump.
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CPI came out and it was 0.1, 2.3 and 2.4 year over year.
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And what's happening here is what's behind the scenes.
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The globalists and the liberals want this one world government.
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They don't want leaders to lead from a sovereign position.
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But what you're seeing with Trump is he's trying to lead.
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And it's very tough for a leader to lead in a committee environment.
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And that's exactly what you have in government.
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And he's trying to sit down, get to certain points and push them.
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And so the Supreme Court decision disappointed me because I read it and I believe that there
00:04:08.120
is executive order capability in the area of tariffs.
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But Scott Besson has been saying for a year that they have other tools.
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To me, it's not that they have other tools to get it done.
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The issue is we've got liberals that think it's a good thing that you've incapacitated your leader
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from making good decisions for your country to right wrongs that have been going on for decades.
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The part that sickens me is no one is looking at the success we've had on trade, Pat.
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No one's looking at the success we've had negotiating with people.
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I want you to see this clip on the video I'm coming to.
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Justices Gortet and Barrett, are you surprised in particular by their decision today?
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I don't want to say whether or not I regret it.
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I think it's an embarrassment to their families.
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Well, I mean, like, honestly, is anybody out there surprised?
00:05:30.760
It's been an uphill battle, to say the least, from 2016 with Russia, Obama, spying, fast forward, all the way to shooting him, to even trying to win for America.
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And it just drives me crazy that even when you try to say, Tommy, Republican, it's like, enough already.
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Yeah, I have some criticizing points on some other stuff.
00:06:07.640
You talked about the numbers with the percentages and everything's coming back.
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When are they going to say, OK, listen, you're the president.
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And then the market comes back all the way through the year, comes back.
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Does the liberals want to come to the microphone and say, oh, I'm sorry, I was wrong.
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I said there'd be rampant inflation because of its tariffs.
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Oh, we got trade deals done for a number of industries.
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There's success on it that no one wants to talk about.
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Here's my concern with this is when your president that you voted for is in, you support executive orders, you know, whatever he wants to do, right?
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When you're president, the president you voted for, you probably align with his ideas.
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And remember, you can celebrate it when you're president until the other side gets elected.
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My biggest trust in the system and the Constitution came when I found out what the most powerful community is in D.C., and that's the Supreme Court.
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Since 1700s, 1789 or so, 165 formal Supreme Court nominations have happened.
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How many of them do you think got rejected that didn't make it?
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165, how many didn't make it after the hearing, after the Senate hearing?
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I mean, Bush had one that blew up and he had to pull it back.
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Because imagine if all of a sudden Kamala doesn't get any other job and they nominate
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How do you think she's going to vote when it comes down to different ruling and, you
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You have to really make sure this is not an evil person.
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I don't know if you understand what I'm saying.
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So to me, a bigger part of this is more a 50-year thing than a short term.
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When I was with Rand Paul, Rob, if you want to pull up the interview with Rand Paul, how
00:09:02.180
My concern is if Supreme Court takes that away from him, that power away from him, which
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he keeps bringing it up, which means they may do it.
00:09:10.620
And then we lose the revenue that we're getting.
00:09:12.480
Well, it's not a matter of taking it away from him.
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Taxes originate in the House, have to go to the Senate.
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It specifically even mentions duties and levies.
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It mentions tariffs in the Constitution, says that they are in the prerogative of the House.
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And it never was the prerogative of the president.
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Now, some legislation has tried to give him that power.
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But what he's using is something called IEPA, which is an emergency legislation, and it
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Do you think Supreme Court is going to rule against him?
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If they follow the law, they absolutely will rule against him.
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And so he will try to use other reasons for how he can use tariffs.
00:10:02.800
So this is Rand Paul saying this two and a half weeks ago.
00:10:05.660
Well, when he said it, he says, if they follow the law, they will rule against him.
00:10:12.800
Because once he basically said that, I was like, oh, they're going to strike this thing
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Because in my opinion, you know who we need to make great again?
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There was a time where Congress actually did their job.
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But we're living in such partisan times that they can't even do anything.
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So if I'm a massive, massive MAGA Trump fan, here's how I'm thinking.
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We've had, what, 2% tariffs in all these countries.
00:11:01.820
So now he basically put it down to, what, 15% now?
00:11:11.660
President Communist AOC shows up and wants to start implementing a socialist agenda.
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All the progressives are going to say, exactly, this is what we voted for.
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And all the people with common sense are going to be like, uh-uh, uh-uh.
00:11:26.800
So I said on the last podcast, thank God this was 6-3 and not 5-4, because Trump, of course,
00:11:32.400
is attacking the judges that didn't side with him.
00:11:37.100
But what's the, you know, Article 1 of the Constitution?
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All legislative powers are granted to the Congress of the United States.
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They have the power to make the laws, to declare war, which they haven't done since World War II,
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even though there have been wars all over the world, to levy taxes, which are basically tariffs,
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and to confirm judges, like you just mentioned, and cabinet members.
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So I totally understand why Rand Paul, where he's coming from, because we respect the rule of law.
00:12:08.260
Trump's basically imposing these reciprocal tariffs.
00:12:10.980
Unfortunately, nobody wants to say the quiet part out loud,
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that this has costed the average American household about $1,000 per household.
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So, you know, you get what you pay for, you know, your wishful thinking.
00:12:22.740
Pritzker came out and said, send, this cost the average American $1,700.
00:12:33.020
Rob, if you want to go to the Kevin O'Leary, go for it.
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So this has got to be a pretty big day in your world.
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We were humming along nicely until this morning.
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I know you've been talking about the politics and the policy,
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but let's talk about a business making $100 million in sales.
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It might have paid out $5 million in the last 14 months on these tariffs.
00:13:04.380
I got phone calls from our customers, from our lenders because we bore it against our line of credit,
00:13:09.580
and from our shareholders that we reduced distributions on during this period waiting to settle on the tariffs.
00:13:18.580
Now, to be compliant, what am I supposed to do?
00:13:20.980
I don't even know how this is going to get filed.
00:13:24.320
It's going to be with Treasury, not the IRS, I assume.
00:13:27.360
So I'm going to try and get a meeting with staffers, best of staffers,
00:13:30.700
when I get to the State of the Union next week to see if they can give me some guidance
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because my head's getting squeezed from the top and the bottom to be compliant.
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And every business in America is going through this right now.
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There are people that want their money back within the distribution shareholder and lender system.
00:13:46.440
And for me, and I'm telling you right now, you're the first to hear it,
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I'm setting up a resource called Wondertrust.com, hiring, if not hundreds, thousands of accountants and lawyers
00:14:05.000
And I wish, I don't know what the policy is going to be on that.
00:14:08.120
It's not a great afternoon for me, to be honest with you.
00:14:21.300
is there going to be a tariff refund for all the companies that have paid for that?
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So in other words, let me translate tariff refund, folks.
00:14:35.060
But government just takes on more debt, pays everybody back on the tariffs.
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We take two steps back on balancing the budget.
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The can gets kicked down the road, and we are sitting there in a worse economic position long term.
00:14:58.040
He's trying to help companies be compliant with the laws and what they're going to do.
00:15:01.200
And he's got some people that are screaming, I want my money back.
00:15:07.860
Washington doesn't know and doesn't understand what it's doing.
00:15:12.760
The liberal side don't understand the impact they have on American businesses,
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even though the Supreme Court has ruled the way Rand Paul thought they would rule on the rule of law.
00:15:29.660
It's such a bigger issue here about leadership in America and allowing the president to govern.
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There was a time where we could come together across the aisle where Tip O'Neill would sit with Ronald Reagan in the Rose Garden
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and have lunch once a week and talk through things for the good of the country.
00:15:47.820
Well, right now you have certain people that are worried about the good of the country and it's a conservative.
00:15:52.720
Yeah, you know, I said this to you this morning is, and I don't even know what other way to say it.
00:15:59.640
I don't know if Trump's wiring is built for the speed of our system in America.
00:16:12.460
Well, his speed worked negotiating with other countries.
00:16:15.160
But can you imagine like you're working in a company that you're working faster than the company is working?
00:16:22.080
So we're accustomed to the startup environment.
00:16:24.620
If we want to make a decision, how quickly do we make a decision here?
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You got, which by the way, so America's got multiple layers of board.
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You got seven, nine, 11 people and say, guys, here's what I think we need to do.
00:16:54.720
I think we make this investment and buy the company for $188 million.
00:17:07.080
So what, by the way, Rob, can you ask the question, according to the Constitution and our system,
00:17:15.720
if the president did take all the tariffs for the different countries he imposed through Congress and Senate,
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what is the fastest and slowest it would take for them to get approved?
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We follow the system because that's the great thing about America.
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If we did follow the system, according to the Constitution, what does it say?
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Because Congress already has delegated part of its authority through existing trade laws.
00:17:53.900
The speed depends on how long the president gives Congress power to regulate commerce and set tariffs.
00:17:59.360
But over decades, Congress passed laws that delegate limited tariff power to the president,
00:18:04.560
which is why the president, I know, but that's the 10 to 15.
00:18:09.020
You saw the president that just raised it from 10 to 15.
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New tariffs require full congressional legislation.
00:18:16.980
You end up with the inflation bill with a bunch of other crap packed into it.
00:18:20.400
Go lower, Rob, to see what the slow path would be.
00:18:25.000
Okay, number one, bill introduced to the House or Senate.
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Three, majority vote on House, majority vote on Senate.
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President signed realistically months to years.
00:18:40.320
By the way, can you flip the question and ask how long?
00:18:45.500
Flip the question, copy paste the question and ask and just replace it instead of America, put China or Russia.
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Change the country from U.S. to China or Russia on how long it would take?
00:19:05.180
It's under the fastest and slowest and slowest and slowest.
00:19:06.360
Who controls the formerly trade-in tariffs or sits under the state, general state council, custom tariffs, oversight, fastest way, administrative approval under authority.
00:19:15.520
If there's a frame, how fast, days to weeks, okay, what about slow?
00:19:22.080
Slowest way, majority and long-term alignment, usually months, sometimes longer.
00:19:29.340
So our system, even if he wanted to go through, by the time they get to vote, would be midterms, and then even if it passes through.
00:19:40.860
So all I'm saying is, for a person that comes from the business background that's used to dealing with speed, the speed of getting tariffs done is way too slow in America.
00:20:02.100
Some would argue and say, thank God it's slow because, you know, you're happy when certain things are fast, but you're, like, remember day one, we're going to sign an executive order.
00:20:12.380
So then moving forward, you almost have to sit there and think about when a president says, we're about to sign an executive order, you've got to sit there and say, listen, Supreme Court, how's the Supreme Court going to be ruling?
00:20:22.620
Again, it all goes back to how powerful the Supreme Court is.
00:20:34.320
And thank God we have them, whether we like them or disagree.
00:20:38.540
Remember when Biden wanted to allegedly pack the court?
00:20:42.900
By the way, you know who looks incredible right now?
00:20:46.100
Maybe the biggest win of his career is Rand Paul.
00:20:51.040
He said straight up, I expect them to shut this down because they're going to, in defense of our republic.
00:20:57.240
I'm not saying you're going to agree with them or disagree with them, but he called this.
00:21:01.100
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00:22:01.180
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