coverage: Trump holds press conference after Supreme Court tariff ruling

[0:00] Deeply disappointing, and I'm ashamed of certain members of the court, absolutely ashamed for not [0:08] having the courage to do what's right for our country. I'd like to thank and congratulate [0:14] Justices Thomas, Alito, and Kavanaugh for their strength and wisdom and love of our country, [0:23] which is right now very proud of those justices. When you read the dissenting opinions, [0:30] there's no way that anyone can argue against them. There's no way. Foreign countries that [0:38] have been ripping us off for years are ecstatic. They're so happy. And they're dancing in the [0:45] streets, but they won't be dancing for long, that I can assure you. The Democrats on the court [0:52] are thrilled, but they will automatically vote no. They're an automatic no, just like in Congress, [0:59] they're an automatic no. They're against anything that makes America strong, healthy, [1:05] and great again. [1:07] They also are a, frankly, disgrace to our nation, those justices. They're an automatic no, [1:15] no matter how good a case you have. It's a no. You can't knock their loyalty. It's one thing [1:23] you can do with some of our people. Others think they're being politically correct, [1:32] which has happened before far too often with certain members of this court, [1:36] and it's happened so often with this court. What a shame. Having to do with voting in particular, [1:43] when in fact they're just being [1:46] . . . [1:46] fools and lapdogs for the rhinos and the radical left Democrats, and not that they should have [1:53] anything at all to do with it. They're very unpatriotic and disloyal to our Constitution. [1:59] It's my opinion that the court has been swayed by foreign interests and a political movement that [2:05] is far smaller than people would ever think. It's a small movement. I won by millions of votes. We [2:13] won in a landslide. With all the cheating that went on, there was a lot of it, but we still won [2:19] in a landslide. [2:19] We won in a landslide. Too big to rig, but these people are obnoxious, ignorant, and loud. They're [2:24] very loud, and I think certain justices are afraid of that. They don't want to do the right thing. [2:32] They're afraid of it. This was an important case to me. More is a symbol of economic national [2:39] security, and also, I would say, just for our country itself, so important, because we're doing [2:48] so well as a country. We've never done so well. The good news is that there are methods, practice, [2:55] statutes, and authorities as recognized by the entire court in this terrible decision and also [3:03] as recognized by Congress, which they refer to, that are even stronger than the IEPA tariffs [3:10] available to me as president of the United States. And in actuality, I was very modest in my ask of [3:16] other countries and businesses because I wanted to do, and it's very important, I wanted to be very [3:24] well-behaved because I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:27] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to [3:27] do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:28] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:29] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:30] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:31] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:33] wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I wanted to do it. I [3:34] I understand how they're very easily swayed. [3:39] I want to be a good boy. [3:42] I have very effectively utilized tariffs over the past year to make America great again. [3:49] Our stock market has just recently broken 50,000 on the Dow, and simultaneously and [3:56] even more amazingly broken 70, broken 7,000 on the S&P, two numbers that everybody thought [4:05] upon our landslide election victory could not be attained. [4:10] Think of that. [4:11] Nobody thought it was possible to do it within four years, and we did it in one year. [4:17] They said, you will never be able—you will go back and you read the geniuses, read their [4:22] statements. [4:24] All of the Nobel Prize winners in economics, they said, no, you couldn't do it in four [4:30] years. [4:31] Well, we didn't do it in four years. [4:33] We did it in one year. [4:34] We broke every record in the book, and we're continuing to do so. [4:37] Tariffs have likewise been used to end five of the eight wars that I settled. [4:44] I settled eight wars, whether you like it or not, including India, Pakistan, big ones, [4:49] nuclear, could have been nuclear. [4:52] Prime Minister of Pakistan said yesterday at the great meeting that we had, the peace [4:59] board, he said yesterday that President Trump could have saved 35 million lives by getting [5:05] us to stop fighting. [5:07] They were getting ready to do some bad things. [5:10] But they have given us—. [5:11] That's great national security, these tariffs have. [5:14] And together with our strong borders, reduced fentanyl coming into our country by 30 percent. [5:21] When I use them as a penalty against countries illegally sending this poison into our country [5:27] to poison our youth, all of those tariffs remain. [5:31] They all remain. [5:32] I don't know if you know that or not. [5:35] They all remain. [5:36] We're still getting them, and we will after the decision. [5:39] I guess there's nobody left to appeal to. [5:42] But again, those three people. [5:43] Such respect. [5:45] I've had a lot of respect for them anyway, but such great respect. [5:49] But other alternatives will now be used to replace the ones that the court incorrectly [5:53] rejected. [5:55] We have alternatives, great alternatives. [5:58] Could be more money. [5:59] We'll take in more money, and we'll be a lot stronger for it. [6:03] We're taking in hundreds of billions of dollars. [6:06] We'll continue to do so. [6:08] To show you how ridiculous the opinion is, however, the court said that I'm not allowed [6:13] to charge even one dollar. [6:15] I can't charge one dollar. [6:16] I can't charge one dollar. [6:18] I would have used one penny, but we don't make the pennies anymore. [6:23] We save money. [6:24] Can't charge one dollar to any country under AIPA. [6:29] Not one dollar, I assume, to protect other countries. [6:33] This must have been done to protect those other countries, certainly not the United [6:36] States of America, which they should be interested in protecting. [6:40] That's what they're supposed to be protecting. [6:43] But I am allowed to cut off any and all trade or business with that same country. [6:48] In other words, I can destroy the trade. [6:50] I can destroy the country. [6:51] I'm even allowed to impose a foreign country-destroying embargo. [6:57] I can embargo. [6:59] I can do anything I want, but I can't charge one dollar, because that's not what it says. [7:06] And that's not the way it even reads. [7:09] I can do anything I want to do to them, but I can't charge any money. [7:16] So I'm allowed to destroy the country, but I can't charge them a little fee. [7:19] I could give them a little two-cent fee, but I cannot charge under any circumstances. [7:25] I cannot charge them. [7:27] I cannot charge them anything. [7:28] Think of that. [7:29] How ridiculous is that? [7:30] I'm allowed to embargo them. [7:31] I'm allowed to tell them, you can't do business in the United States anymore. [7:35] We want you out of here. [7:37] But if I want to charge them $10, I can't do that. [7:41] It's incorrect. [7:42] Their decision is incorrect. [7:43] But it doesn't matter, because we have very powerful alternatives that have been approved [7:48] by this decision. [7:49] You know, they have been approved by the decision, for those that thought they had us. [7:55] And they're saying that I have the absolute right to license, but not the right to do [8:00] to charge a license fee. [8:02] So think of that. [8:03] I have the right to license, which is a very powerful word. [8:05] In many ways, license is more powerful than tariffs. [8:08] In fact, I was thinking about using it. [8:10] But they came up with the idea that I can license, just like the people that were opposing [8:16] me told them to do, but not the right to charge a license fee. [8:21] Think of that. [8:23] Who ever heard of such a thing? [8:24] What license has ever been issued without the right to charge a fee? [8:27] You get a license, you charge a fee. [8:29] It's automatic. [8:30] But not with this Court. [8:31] But now the Court has given me the unquestioned right to ban all sorts of things from coming [8:37] into our country, to destroy foreign countries, but a much more powerful right than many people [8:44] ever thought we even had, but not the right to charge a fee. [8:49] How crazy is that? [8:51] Our country is the hottest country anywhere in the world right now. [8:55] And it was a dead country one-and-a-half years ago under an incompetent president. [9:01] But now I'm going to go in a different direction. [9:04] Probably the direction that I should have gone the first time, but I read the language. [9:11] I'm very good at reading language, and it read our way 100 percent. [9:14] But now I'll go the way I could have gone originally, which is even stronger than our [9:19] original choice. [9:22] As Justice Kavanaugh, whose stock has gone so up — you have to see. [9:27] I'm so proud of him — wrote in his dissent, although I firmly disagree with the court's [9:34] holding today. [9:35] The decision might not substantially constrain a president's ability to order tariffs going [9:41] forward. [9:43] So think of that. [9:47] The decision might not substantially constrain. [9:51] And it doesn't. [9:52] He's right. [9:53] In fact, I can charge much more than I was charging. [9:56] So I'm going to just start. [9:57] Although I firmly disagree with the court's holding today, the decision might not substantially [10:04] constrain a president's ability to order tariffs going forward. [10:07] That's because numerous... [10:10] ...other federal statutes, which is so true, authorized the president to impose tariffs [10:16] and might justify most, if not all, of the tariffs issued in this case. [10:22] Even more tariffs, actually. [10:25] Those statutes include — think of that. [10:28] Those statutes include, for example, the Trade Expansion Act of 1962, Section 232. [10:37] All of these things I know so well. [10:39] The Trade Act of 1972. [10:40] The Trade Act of 1972. [10:41] The Trade Act of 1972. [10:42] The Trade Act of 1974, Sections 122, 201, 301. [10:46] And the Tariff Act of 1930, Section 338, all clear. [10:51] But it's a little bit longer process. [10:53] I thought I'd make things simple, but they didn't let us do that. [10:57] I would like to thank Justice Kavanaugh for his — frankly, his genius and his great ability. [11:04] Very proud of that appointment. [11:07] In actuality, why — while I am sure that they did not mean to do so, the Supreme Court's [11:13] decision... [11:15] The Supreme Court's decision today made a president's ability to both regulate trade [11:18] and impose tariffs more powerful and more crystal clear, rather than less. [11:25] I don't think they meant that. [11:26] I'm sure they didn't. [11:27] It's terrible. [11:30] And to think that the Democrats who oppose this, only because they want to go the opposite [11:37] way. [11:38] They'd like to pack the court. [11:39] They want to put on — 21 people. [11:40] They want to pack the court, pack the Supreme Court. [11:43] Maybe they should do it. [11:44] Maybe they would be better off if they did it. [11:47] They want to pack the court. [11:49] They want to do anything to hurt our country. [11:53] There will no longer be any doubt. [11:56] And the income coming in and the protection of our companies and country will actually [12:01] increase because of this decision. [12:03] I don't think the court meant that, but it's the way it is. [12:09] Based on longstanding law and hundreds of victories, and even, as I was pointed out [12:14] before, even thousands of victories over the years, to the contrary, the Supreme Court [12:20] did not overrule tariffs. [12:22] They merely overruled a particular issue. [12:24] They are not interested in the use of IEPA tariffs. [12:26] And, essentially, it's to use to get a fee. [12:31] I can do anything I want with IEPA. [12:33] Anything. [12:34] I just can't charge anybody for it. [12:37] I could license. [12:38] I just can't charge them. [12:40] It's ridiculous. [12:41] But it's OK, because we have other ways, numerous other ways. [12:46] The ability to block, embargo, restrict, license or impose any other condition on a foreign [12:55] country's ability to conduct trade with the United States. [12:56] I think that's a very bad, very bad, very bad, very bad, very, very bad, very bad, very [12:57] bad, very bad, very bad, very bad, very bad, very bad, very bad, very bad, very bad, very bad, very, very bad, very bad, very bad, very bad. [12:58] STATES UNDER AIPA HAS BEEN FULLY CONFIRMED BY THIS DECISION SO NOW THERE'S NO DOUBT BECAUSE [13:06] YOU KNOW THERE WERE A LOT OF QUESTIONS ABOUT TARIFFS BECAUSE NO PRESIDENT WAS SMART ENOUGH [13:10] TO USE THEM TO PROTECT OUR COUNTRY FROM THOSE COUNTRIES AND BUSINESSES THAT WERE RIPPING [13:14] US OFF YOU TOOK A LOOK AT THE DEFICITS THAT WE HAD WITH SOME OF THESE COUNTRIES IT WAS [13:19] DISGRACEFUL WHAT THEY GOT AWAY WITH FOR MANY MANY DECADES BUT NOW WE KNOW BECAUSE THIS [13:25] DECISION AFFIRMS ALL THOSE THINGS THAT SOME PEOPLE WEREN'T SURE ABOUT IN ORDER TO PROTECT [13:31] AND IT SAYS SO IN ORDER TO PROTECT OUR COUNTRY A PRESIDENT CAN ACTUALLY CHARGE MORE TARIFFS [13:38] THAN I WAS CHARGING IN THE PAST PERIOD OF A YEAR UNDER THE VARIOUS TARIFFS AUTHORITIES [13:46] SO WE CAN USE OTHER OF THE STATUTES OTHER OF THE TARIFF AUTHORITIES WHICH HAVE ALSO [13:54] BEEN CONFIRMED AND ARE FULLY ALLOWED THEREFORE EFFECTIVE IMMEDIATELY ALL NATIONAL SECURITY [14:03] TARIFFS UNDER SECTION 232 AND EXISTING SECTION [14:07] 232 AND EXISTING SECTION 232 AND EXISTING SECTION 232 AND EXISTING SECTION 232 AND EXISTING [14:07] 301 TARIFFS THEY'RE EXISTING THEY'RE THERE REMAIN IN PLACE FULLY IN PLACE AND IN FULL FORCE AND [14:17] EFFECT TODAY I WILL SIGN IN ORDER TO IMPOSE A 10% GLOBAL TARIFF UNDER SECTION 122 OVER AND ABOVE [14:25] OUR NORMAL TARIFFS ALREADY BEING CHARGED AND WE'RE ALSO INITIATING SEVERAL SECTION 301 AND [14:32] OTHER INVESTIGATIONS TO PROTECT OUR COUNTRY FROM UNFAIR TRADING PRACTICES OF OTHER COUNTRIES [14:40] COUNTRIES AND COMPANIES THANK YOU FOR YOUR ATTENTION TO THIS MATTER AND I SAY QUITE SIMPLY [14:47] WHICH I SAID FOR A LONG TIME MAKE AMERICA GREAT AGAIN AND INTERESTINGLY WE'VE ALREADY MADE IT [14:54] GREAT SO I DON'T HAVE TO USE THAT BUT I DON'T THINK WE'LL EVER GIVE UP ON MAGA MAGA IS ALWAYS [14:59] GOING TO BE WITH US IF YOU HAVE A FEW QUESTIONS YOU CAN LET US KNOW BUT JUST TO END SO WE'RE [15:07] GOING FORWARD WE WILL BE ABLE TO TAKE IN MORE MONEY AND THEY'LL NO LONGER BE DONE [15:12] THAN THAT. [15:13] THANK YOU. [15:15] THANK YOU. [15:16] WE'VE ALWAYS HAD SOME DOUBT BECAUSE THERE WAS ALWAYS DOUBT. [15:17] I KNOW THE PEOPLE THAT BROUGHT THE LAWSUIT AND SLEEVES BAGS MAJOR SLEEZE BAGS BUT I KNOW [15:20] THEM AND THEY'RE A FOREIGN COUNTRY CENTRIC. [15:26] THEY WERE SENDING THINGS INTO OUR COUNTRY AND THE PEOPLE REPRESENTING THEM KNEW FULL [15:32] WELL BUT THEY WERE SENDING THINGS INTO OUR COUNTRY AND THEY WERE BENEFICIAL TO OTHER [15:37] COUNTRIES BUT VERY VERY BAD FOR US AND I STOPPED IT AND WE'LL JUST KEEP IT GOING SO WE HAVE [15:43] MORE OF A. [15:44] WE HAVE A TOTALLY FIRM DECISION NOW AND I DON'T THINK THE COURT MEANT IT BECAUSE THE COURT [15:50] DOESN'T SHOW GREAT SPIRIT TOWARD OUR COUNTRY IN MY OPINION. [15:54] A LOT OF BAD DECISIONS BUT THERE ARE USUALLY WAYS AROUND IT. [15:59] THIS IS SOMETHING WE COULD HAVE DONE AS JUSTICE KAVANAUGH SAID WE COULD HAVE DONE THIS ORIGINALLY [16:03] BUT WE'RE DOING IT NOW AND THE NUMBERS COULD BE FAR GREATER THAN THE HUNDREDS OF BILLIONS [16:07] WE'VE ALREADY TAKEN. [16:08] YEAH PLEASE. [16:09] THANK YOU. [16:10] THANK YOU. [16:11] MR. PRESIDENT. [16:12] MR. PRESIDENT. [16:13] MR. PRESIDENT. [16:14] MR. PRESIDENT. [16:15] THANK YOU SO MUCH MR. PRESIDENT. [16:18] JUSTICE THOMAS AND ALITO AS YOU KNOW ARE THE MOST CONSERVATIVE CONSTITUTIONAL JUSTICES. [16:22] DO YOU THINK THAT YOU'LL GET TO APPOINT TWO MORE JUSTICES LATER THIS TERM WITH SIMILAR [16:25] IDEOLOGIES AND WHAT TYPE OF VETTING PROCESS WILL THEY GO THROUGH TO ENSURE THE UPHOLD [16:30] OF THE CONSTITUTION? [16:31] I DON'T KNOW BUT THEY'RE GREAT JUSTICES THAT'S ALL I CAN SAY AND I HOPE THEY'RE GONNA BE [16:34] AROUND A LONG TIME I HOPE THEY'RE GONNA STAY HEALTHY THEY'RE GREAT PEOPLE THEY'RE GREAT [16:37] AND JUSTICE ALITO TOO TO ADD TO THE GROUP THESE ARE GREAT THESE ARE GREAT MEN WITH [16:43] with a great love of our country and a great understanding of the law. [16:47] The president asked Congress to take additional action on tariffs now. [16:53] DONALD TRUMP, President of the United States of America, I don't need to. It's already [16:54] been approved. [16:55] I mean, I would ask Congress and probably get it. [16:58] When people look at the real numbers, and you look at hundreds of billions of dollars [17:03] that have come into our country, yesterday, I was at a steel plant, as you know, and went [17:08] to a great, great place, great plant, great, wonderful people. And they were telling me, [17:15] I said to them, you were there, a lot of the press in this room. [17:18] Of course, I don't think there's planes big enough to take the press in this room, but [17:23] a lot of the press right here. We're in Georgia. [17:27] And I said to the owner of I made a speech at a factory that made steel products. And [17:31] I said, how are you? Nice to meet you. How's business? President, I'd love to kiss you. [17:39] This is a very powerful man. I don't want to be kissed by that man, but a very powerful, [17:44] strong man. He's been in the steel business for many years. [17:46] He's fine. [17:46] My father started it. And he said, sir, I want to kiss you. I said, why? He said, because [17:53] we were down to working one hour a week, and then you came in and imposed tariffs. And [17:58] all of that foreign junk that they were dropping into our country stopped. [18:03] And we're now going to double shifts seven days a week. And we may be very soon going [18:09] to 24 hours around the clock, almost seven days a week. He said, sir, I want to kiss [18:14] you so badly. And I said, no, thank you. [18:17] But you know what? He just and just to finalize it, he said, all this a great place in Georgia. [18:24] In Georgia, he said all up and down the highway, same exact answer, sir. We're all going out [18:31] of business. [18:32] We're going to go bankrupt. We're all going out of business. And now every one of us are [18:36] thriving and we're hiring people like we haven't, he said, like, I've never. [18:42] And he's been a businessman in 45 years, like we've never hired before. That's because of [18:47] tariffs. [18:48] going to keep it going the same way. And you're going to start to see the results in a year from [18:52] now when all those factories start that are under construction right now. You see all the [18:55] construction numbers are so good. Those construction workers are building factories that are going to [19:00] be open, including not only AI, which is big, but car plants coming in from Canada, who ripped us [19:08] off for 30 percent of our market. Mexico ripped us off for a big portion. Over the years, they've [19:13] taken our market. They've taken our cars. They manufacture them in Japan, Germany and all over [19:19] the place because nobody's standing in this position. The position I have as president of [19:25] the United States had the insight, the courage. I don't know what it is to charge tariffs. You can [19:33] make your product outside. You can put our people out of business. You can put everybody on the [19:37] unemployment rolls. But if you're going to make a car in some other country, you're going to pay a [19:42] 15, 20, 30 percent tariff. [19:44] And those things would have never happened. We wouldn't have lost our business. Same thing with, [19:49] as an example, Taiwan. Taiwan came in. They stole our chip business. They made chips for 30 years [19:57] longer. They made chip, chip, chip. And they put our companies, Intel would be now the largest [20:03] company. I saved Intel. I literally saved it at the beginning of this administration. And now [20:11] all those companies in Taiwan are building factories in Arizona, [20:16] Texas and various other places because they don't want to pay tariffs. They're all pouring into the [20:21] United States. But just like that great patriot said yesterday, sir, what you've done, nobody [20:28] thought was possible. And Steve Moore, a highly respected economist, came into my office yesterday. [20:34] He said, you've done something nobody's ever done. Twenty-two Nobel Prize winners in economics [20:42] said we would right now be in a recession. And you said, no, we're going to have a boom, [20:48] WE'RE GOING TO HAVE A BOOMING COUNTRY, YOU WERE RIGHT, ALL 22 WERE WRONG AND YOU [20:53] WERE RIGHT. [20:54] THIS COUNTRY IS BOOMING AND IT'S BOOMING BECAUSE OF THE ELECTION ON NOVEMBER 5TH AND [21:00] IT'S BOOMING FOR ANOTHER REASON, IT'S BOOMING BECAUSE OF TARIFFS. [21:03] YEAH, PLEASE. [21:04] GO AHEAD. [21:05] MR. [21:06] PRESIDENT, WHAT WILL YOU SAY TO FOREIGN NATIONS WHO SEEK TO RENEGOTIATE THEIR DEALS? [21:14] AND WHAT DID YOU MEAN A MOMENT AGO WHEN YOU SAID THAT THE SUPREME COURT HAS BEEN SWAYED [21:18] BY FOREIGN INTERESTS? [21:19] WELL, I THINK THAT FOREIGN INTERESTS ARE REPRESENTED BY PEOPLE THAT I BELIEVE HAVE [21:25] UNDUE INFLUENCE, HAVE A LOT OF INFLUENCE OVER THE SUPREME COURT, WHETHER IT'S THROUGH [21:30] FEAR OR RESPECT OR FRIENDSHIPS, I DON'T KNOW, BUT I KNOW SOME OF THE PEOPLE THAT WERE INVOLVED [21:35] ON THE OTHER SIDE AND I DON'T LIKE THEM. [21:38] I THINK THEY'RE REAL SLIME BALLS AND GOT TO DO WHAT'S RIGHT FOR THE COUNTRY. [21:43] YOU GOT TO DO WHAT'S RIGHT FOR THE CONSTITUTION. [21:45] THAT'S WHY I RESPECT SO MUCH JUSTICE THOMAS. [21:49] I READ THEIR DISSENT, ALITO, KAVANAUGH, BECAUSE THEY NOT ONLY DISSENTED, THEIR DISSENT IS [21:54] SO STRONG. [21:55] WHEN YOU READ THEIR DISSENT, YOU KNOW, A LOT OF TIMES YOU READ THEIR DISSENT AND IT'S LIKE, [21:58] WELL, YOU DON'T KNOW, IT COULD GO EITHER WAY. [22:01] THERE'S NO OTHER WAY. [22:02] THE GOOD NEWS IS, IT'S LIKE JUSTICE KAVANAUGH SAID, VERY STRONGLY SAID, YOU HAVE OTHER WAYS [22:07] YOU CAN GO. [22:08] YOU DON'T HAVE TO GO THAT WAY. [22:09] YOU CAN GO OTHER WAY. [22:10] THERE ARE NUMEROUS OTHER WAYS YOU CAN GO. [22:12] AND FRANKLY, THIS SHOULD HAVE BEEN DONE BY PRESIDENTS MANY YEARS AGO. [22:16] THEY ALLOWED OUR COUNTRY TO BE EATEN ALIVE. [22:19] WE LOST 50% OF OUR CAR BUSINESS. [22:22] WE USED TO MAKE CARS. [22:23] WE MADE ALL THE CARS. [22:24] AND THEN MEXICO CAME, CANADA CAME, JAPAN AND GERMANY. [22:29] BUT THEY'RE ALL COMING BACK NOW. [22:31] THEY'RE ALL COMING BACK AT RECORD LEVELS. [22:33] NO, YOU, YOU, PLEASE, PLEASE. [22:39] I'M NOT, I'M NOT TALKING TO YOU. [22:43] I DON'T TALK TO CNN. [22:44] IT'S FAKE NEWS. [22:45] GO AHEAD. [22:46] MR. [22:47] PRESIDENT, YESTERDAY YOU MADE THE CASE THAT THE ECONOMY IS THE HOTTEST IT'S BEEN [22:49] IN A LONG TIME. [22:49] RIGHT. [22:50] JANUARY JOBS REPORT BEAT EXPECTATIONS, CPI REPORT BEAT EXPECTATIONS, REAL WAGES HURT. [22:55] WHAT WOULD YOU TELL AMERICANS WHO ARE WORRIED THAT THIS DECISION WILL KIND OF THROW THE [22:59] ECONOMY THAT YOU HAVE PROJECTED GOING IN THE RIGHT DIRECTION AT A VERY RAPID PACE OFF TRACK? [23:04] WELL, THANK YOU FOR THE QUESTION. [23:05] AND I WILL SAY THIS. [23:07] WE REALLY ARE AT A VERY IMPORTANT POINT. [23:10] I'VE BEEN WAITING FOR THIS DECISION SO LONG. [23:14] THEY COULD HAVE MADE THIS DECISION A LONG TIME AGO. [23:16] NOT COMPLEX. [23:17] THEY'RE WRONG ON IT. [23:18] IT'S A RIDICULOUS DECISION. [23:19] THEY SHOULD HAVE RELEASED THIS A LONG TIME AGO. [23:22] WE WAITED MONTHS. [23:23] AND THAT GAVE UNCERTAINTY. [23:24] NOW WE HAVE CERTAINTY. [23:26] AND I THINK YOU'RE GOING TO SEE THE COUNTRY GET MUCH STRONGER BECAUSE OF IT. [23:29] LOOK, WE WERE RIPPED OFF BY ALMOST EVERY COUNTRY IN THE WORLD. [23:33] IF YOU LOOK AT THE SURPLUSES, ALMOST EVERY COUNTRY IN THE WORLD THAT DID BUSINESS WITH [23:38] US, OUR PEOPLE WERE STUPID. [23:40] AND I BLAME PRESIDENTS FOR IT, BECAUSE THEY'RE ULTIMATELY THE LEADER. [23:45] WE WERE BEING RIPPED OFF BY ALMOST EVERY SINGLE COUNTRY IN THE WORLD HAD MASSIVE, SOME MASSIVE [23:50] SURPLUSES. [23:52] CHINA HAD HUNDREDS OF BILLIONS OF DOLLARS IN SURPLUSES WITH THE UNITED STATES. [23:56] THEY REBUILT CHINA. [23:57] THEY REBUILT THE ARMY. [23:59] WE BUILT CHINA'S ARMY BY ALLOWING THAT TO HAPPEN. [24:01] I HAVE A GREAT RELATIONSHIP WITH PRESIDENT XI, BUT HE RESPECTS OUR COUNTRY NOW. [24:06] NOW WHAT WE'VE DONE, I CHARGED CHINA A 20% TARIFF AS A PENALTY FOR SENDING FENTANYL IN. [24:13] AND THAT WAS 20 TIMES MORE THAN THEY COULD MAKE BY SELLING FENTANYL. [24:17] AND I SAID, YOU KNOW, AT SOME POINT YOU'RE GOING TO SAY, LIKE, AND THEY HAVE REDUCED [24:21] IT. [24:21] THEY HAVE REDUCED IT. [24:22] THEY HAVE REDUCED IT. [24:23] THEY HAVE REDUCED IT. [24:24] FENTANYL IS DOWN BY MORE THAN 30% COMING INTO OUR COUNTRY. [24:25] PART OF THAT IS A STRONG BORDER. [24:26] WE HAVE A STRONG BORDER NOW. [24:27] BUT THANK YOU. [24:29] THANK YOU FOR YOUR QUESTIONS. [24:30] MR. PRESIDENT, YOU WARNED ONCE IN A SOCIAL MEDIA POST THAT IF THE SUPREME COURT DID THIS, [24:39] SHOT DOWN YOUR TARIFFS, THE U.S. WOULD BE, QUOTE, FINANCIALLY DEFENSELESS. [24:44] ARE WE FINANCIALLY DEFENSELESS RIGHT NOW? [24:45] NO, BECAUSE WE'RE DOING SOMETHING IN A DIFFERENT WAY. [24:48] WE'RE DOING SOMETHING IN A VERY POWERFUL WAY. [24:51] AND WE'RE USING THINGS THAT SOME PEOPLE THOUGHT WE SHOULD HAVE USED IN THE FIRST PLACE. [24:55] BUT IT'S MORE COMPLICATED. [24:56] IT'S A LITTLE MORE COMPLICATED. [24:57] THE PROCESS TAKES A LITTLE MORE TIME. [24:59] BUT THE END RESULT IS GOING TO GET US MORE MONEY. [25:02] AND I THINK IT'S GOING TO BE GREAT. [25:03] YEAH. [25:05] PETER, GO AHEAD. [25:06] THANK YOU, PRESIDENT TRUMP. [25:07] SO, SINCE LIBERATION DAY, THERE'S ABOUT $175 BILLION IN TARIFF REVENUE THAT IS NOW IN [25:14] LIMBO. [25:15] DO YOU HAVE TO REFUND $175 BILLION? [25:16] THINK OF IT, PETER. [25:17] VERY FAIR QUESTION. [25:19] THEY TAKE MONTHS AND MONTHS TO WRITE AN OPINION, AND THEY DON'T EVEN DISCUSS THAT POINT. [25:26] WE'VE TAKEN IN HUNDREDS OF BILLIONS OF DOLLARS, NOT MILLIONS, HUNDREDS OF BILLIONS OF DOLLARS. [25:33] AND SO I SAID, WELL, WHAT HAPPENS TO ALL THE MONEY THAT WE TOOK IN? [25:36] IT WASN'T DISCUSSED. [25:37] WOULDN'T YOU THINK THEY WOULD HAVE PUT ONE SENTENCE IN THERE SAYING THAT KEEP THE MONEY [25:42] OR DON'T KEEP THE MONEY, RIGHT? [25:43] I GUESS IT HAS TO GET LITIGATED FOR THE NEXT TWO YEARS. [25:47] SO THEY WRITE THIS TERRIBLE, DEFECTIVE DECISION, TOTALLY DEFECTIVE. [25:54] IT'S ALMOST LIKE NOT WRITTEN BY SMART PEOPLE. [25:56] AND WHAT THEY DO? [25:57] THEY DON'T EVEN TALK ABOUT IT. [25:59] YOUR QUESTION IS VERY BASIC. [26:00] THAT WAS THE FIRST QUESTION I ASKED ALSO TO MAKE YOU FEEL GOOD. [26:03] THEY SAID, WHAT ABOUT ALL THE MONEY THAT WE'VE TAKEN IN? [26:05] SIR, THEY DON'T DISCUSS THAT. [26:07] HOW CRAZY IS THAT? [26:08] ARE YOU SAYING THAT YOU DON'T PLAN TO HONOR REFUNDS FOR COMPANIES THAT FILE FOR THEM? [26:16] I JUST TOLD YOU THE ANSWER, RIGHT? [26:17] I TOLD YOU THE ANSWER. [26:18] IT'S NOT DISCUSSED. [26:19] WE'LL END UP BEING IN COURT FOR THE NEXT FIVE YEARS. [26:21] GO AHEAD, GREEN. [26:23] GREEN. [26:27] THANK YOU, MR. PRESIDENT. [26:29] WHEN YOU ARE TALKING ABOUT THE RELATIONSHIP WITH COUNTRIES THAT YOU HAVE SOUGHT TRADE [26:33] DEALS WITH, DO YOU ANTICIPATE THAT THEY WILL SEEK TO RENEGOTIATE THOSE? [26:38] WHAT DO YOU SAY TO THEM? [26:39] AND DO YOU VIEW THIS AS A POTENTIAL UNDERMINING POWER FOR YOUR NEGOTIATIONS? [26:43] WELL, WE'RE GOING STRAIGHT AHEAD WITH 10% STRAIGHT ACROSS THE BOARD, WHICH IS THE ABSOLUTE [26:47] RIGHT TO DO. [26:49] AND THAT'S TAKING PLACE. [26:50] THAT'S A LOT OF MONEY COMING INTO OUR COUNTRY. [26:53] AND THEN DURING THAT PERIOD OF ABOUT FIVE MONTHS, WE ARE DOING THE VARIOUS INVESTMENTS. [26:57] INVESTIGATION IS NECESSARY TO PUT FAIR TARIFFS OR TARIFFS, PERIOD, ON OTHER COUNTRIES. [27:06] SO WE'RE DOING THAT PERIOD. [27:07] BUT WE'RE IMMEDIATELY INSTITUTING THE 10% PROVISION, WHICH WE'RE ALLOWED TO DO. [27:11] AND IN THE END, I THINK WE'RE TAKING MORE MONEY THAN WE'VE TAKEN BEFORE. [27:14] YOU'VE USED THE TARIFF REVENUE TO PAY FOR A HOST OF FEDERAL POLICIES. [27:23] YOU CLAIM THAT THEY WILL PAY FOR THEM. [27:25] WHAT HAPPENS TO THEM? [27:26] WELL, LIKE THE FARMERS. [27:27] WE TOOK CARE OF FARMERS. [27:28] YOU KNOW, THE FARMERS WERE MISTREATED BY FOREIGN COUNTRIES. [27:31] VERY BADLY. [27:32] VERY, VERY BADLY. [27:33] AND LAST WEEK, I GAVE THEM $12 BILLION OUT OF TARIFF MONEY. [27:38] WE INTEND TO, OUT OF TARIFF MONEY, BECAUSE JUST SO YOU UNDERSTAND, WE HAVE TARIFFS. [27:44] WE JUST HAVE THEM IN A DIFFERENT WAY. [27:46] AND NOW THEY'VE BEEN CONFIRMED BY THE SUPREME COURT OF THE UNITED STATES. [27:50] SO THERE'S NO LONGER THAT QUESTION OUT THERE ABOUT TARIFFS. [27:54] AND WE'LL BE TAKING IN HUNDREDS OF BILLIONS OF DOLLARS. [27:57] AND COUNTRIES THAT HAVE TREATED US BADLY WILL HAVE TO PAY A PRICE FOR TREATING US BADLY. [28:02] AND COUNTRIES THAT HAVE BEEN GOOD TO US WILL BE TREATED VERY WELL. [28:06] WE JUST LEFT THE TOP PERSON IN A PLACE CALLED VIETNAM, JUST LEFT MY OFFICE, GREAT GENTLEMAN, [28:14] STRONG AND SMART. [28:15] HE SAID, YOU KNOW, I THINK THIS MEANS YOU'RE ALLOWED TO CHARGE US MORE TARIFFS THAN BEFORE. [28:21] AND CANADA SAID TO JAMISON, I MIGHT WANT TO SAY IT, JAMISON, BUT CANADA SAID, I HOPE [28:28] YOU WIN THIS DECISION, BECAUSE IF YOU DON'T WIN, YOU'LL ACTUALLY BE ALLOWED TO CHARGE [28:32] US WITH A LITTLE ADDITIONAL WORK, HIGHER TARIFFS. [28:34] JAMISON, YOU WANT TO COMMENT ON THAT? [28:36] YES, SIR. [28:37] SO, TO THE PRESIDENT'S POINT, WE HAVE A LOT OF TOOLS OUT THERE, WE HAVE SECTION 122, WHICH [28:43] WILL BE IMPLEMENTED TODAY, IT WILL BE SIGNED TODAY, AND IMPLEMENTED VERY SHORTLY. [28:47] WE HAVE SECTION 301 INVESTIGATIONS, WHICH ARE INCREDIBLY LEGALLY DURABLE, WHERE WE CAN [28:53] ADDRESS, INVESTIGATE AND ADDRESS UNFAIR TRADING PRACTICES THAT HAVE LED TO OUR HUGE TRADE [28:58] DEFICIT. [28:59] SO YOU CAN LOOK FORWARD IN THE COMING DAYS AND WEEKS TO SEEING ALL OF THAT COME OUT, [29:02] AND WE'RE GOING TO KEEP CONTINUITY IN THE PROGRAM. [29:04] WE'RE GOING TO KEEP ADDRESSING THIS SO THAT THE DEFICIT CAN KEEP GOING DOWN, THAT'S THE [29:08] TREND IT HAS, AND WE CAN MAKE AMERICA GREAT AGAINST IT. [29:15] SEVERAL OF REPUBLICANS IN CONGRESS HAVE SUPPORTED THIS DECISION BY THE SUPREME COURT, AND HAKEEM [29:21] JEFFRIES, THE DEMOCRATIC LEADER, HAS CALLED TO A WANNA-BE KING. [29:24] WHY WOULD HE? [29:25] HE DOESN'T EVEN KNOW, AND I WATCHED HIM THE OTHER DAY INTERVIEW, THE GUY DOESN'T EVEN [29:31] KNOW WHAT A TARIFF IS. [29:32] BUT THERE'S BEEN BIPARTISAN CRITICISM. [29:34] NO, NOT BIPARTISAN. [29:35] EXCUSE ME. [29:36] A FEW PEOPLE. [29:36] SEVERAL REPUBLICANS HAVE SAID THAT. [29:37] YEAH, A FEW PEOPLE. [29:38] BUT WHY WOULDN'T YOU JUST WORK WITH CONGRESS TO COME UP WITH A PLAN TO PUSH TARIFFS? [29:40] I DON'T HAVE TO. [29:41] I HAVE THE RIGHT TO DO TARIFFS, AND I'VE ALWAYS HAD THE RIGHT TO DO TARIFFS, AND IT'S [29:44] ALL BEEN APPROVED BY CONGRESS, SO THERE'S NO REASON TO DO IT. [29:48] ALL WE'RE DOING IS WE'RE GOING THROUGH A LITTLE BIT MORE COMPLICATED PROCESS, NOT COMPLICATED [29:52] VERY MUCH, BUT A LITTLE MORE COMPLICATED THAN WHAT WE HAD. [29:56] WE'LL BE ABLE TO TAKE IN TARIFFS, MORE TARIFFS, AND THE CONGRESS PEOPLE, AND THE CONGRESS... [29:59] I WAS JUST PUTTING DOWN THE CANADIAN TARIFFS LAST WEEK. [30:01] THERE'S BEEN VOTES IN THE SENATE AGAINST IT. [30:03] YEAH, BECAUSE WE LOST TWO REPUBLICANS OR THREE REPUBLICANS BECAUSE THEY'RE NOT GOOD REPUBLICANS. [30:10] WHAT YOU DON'T SAY, SEE, YOU DON'T SAY THAT WE HAD, THAT WE GOT 215 VOTES TO THREE. [30:15] YOU NEED 215 FOR SOMETHING TO PASS. [30:17] NO, SURE WE DO. [30:18] WE MIGHT HAVE LOST THREE VOTES, AND WE GOT, AND WHAT WAS THE SCORE ON THE REPUBLICAN SIDE? [30:23] 215 TO THREE, RIGHT? [30:24] YOU DON'T SAY THAT. [30:25] YOU DON'T SAY THAT. [30:26] WE HAVE GREAT UNITY. [30:27] THERE'S GREAT UNITY IN THE REPUBLICAN PARTY, AND I HOPE EVERYONE'S GOING TO VOTE REPUBLICAN [30:30] BECAUSE OTHERWISE YOU WON'T HAVE A COUNTRY LEFT BECAUSE THESE PEOPLE HAVE BEEN DESTROYING, [30:34] THEY ARE DESTROYING OUR COUNTRY. [30:35] PLEASE. [30:36] MR. [30:37] PRESIDENT, THE 122 TARIFFS, THAT 10%, IS THAT GOING TO BE FOR 150 DAYS, OR DO YOU WANT [30:43] TO CHARGE THAT INDEFINITELY? [30:45] WE HAVE A RIGHT TO DO PRETTY MUCH WHAT WE WANT TO DO, BUT WE'RE GOING TO CHARGE IT STARTING [30:48] EFFECTIVELY. [30:49] IT'S THREE DAYS FROM NOW. [30:50] YEAH, PLEASE. [30:51] MR. [30:52] PRESIDENT, YOU SPEAK TO A LOT OF FACTORY WORKERS, A LOT OF MANUFACTURING WORKERS. [30:56] WHAT DOES THE SUPREME COURT RULING SAY? [30:58] WHAT'S THAT MESSAGE TO THOSE FACTORY WORKERS? [31:00] WELL, I THINK THE FACTORY WORKERS ARE HAPPY BECAUSE WE'RE NOW TELLING THEM THAT THEY'RE [31:04] GOING TO — LOOK, THE MAN I MET WITH YESTERDAY WHO OWNED A FACTORY WAS OUT OF BUSINESS. [31:10] HE WAS OUT OF BUSINESS. [31:12] AND NOW HE'S EMPLOYING FIVE TIMES. [31:15] IN FACT, I WALKED IN. [31:17] HE'S GOT A BRAND-NEW CRANE. [31:18] I SAID, HOW OLD IS THAT CRANE? [31:19] WE GOT IT IN DECEMBER. [31:20] HE'S ALLOWED TO WRITE IT OFF IN ONE WORD. [31:23] THE GREAT, BIG, BEAUTIFUL ACT GAVE NO TAX ON TIPS, NO TAX ON SOCIAL SECURITY, NO TAX [31:28] ON OVERTIME. [31:29] HE SAID THIS GREAT, BIG, BEAUTIFUL BILL, FRANKLY, HAS BEEN THE BEST THING THAT'S EVER [31:36] HAPPENED FOR THE WORKERS OF THE — MUCH MORE SO THAN FOR RICH PEOPLE. [31:40] THE ONLY THING IT DOES FOR RICH PEOPLE, IT ALLOWS THEM TO HIRE A LOT MORE PEOPLE. [31:44] BUT WHEN I SAW HIM, AND THEN HE SAID IT'S ALL UP AND DOWN THE LINE. [31:48] THIS IS A PLACE IN GEORGIA, ALL UP AND DOWN, OTHER FACTORIES DOING DIFFERENT, NOT ONLY [31:53] STEEL PRODUCTS, DIFFERENT. [31:54] HE SAID EVERY ONE OF US WAS OUT OF BUSINESS. [31:57] WE COULD BARELY MAKE IT. [32:00] SOME OF THEM WERE DOWN TO LESS THAN AN HOUR A WEEK. [32:02] THINK OF IT. [32:03] ONE HOUR A WEEK TO MAKE JUST A FEW LITTLE TRINKETS OR WHATEVER THEY MAKE. [32:07] NOW THEY'RE GOING ROUND THE CLOCK. [32:09] I HAD IT A MONTH AGO. [32:10] I WENT TO MICHIGAN, WENT TO FORD, AND I MET WITH BILL FORD, THE HEAD OF FORD. [32:17] AND WE WERE IN ONE OF THE BIGGEST PLANTS, AN ORIGINAL PLANT FROM THE EARLY 1900s, WHERE, [32:22] BY THE WAY, JUST I MIGHT ADD THIS, IT'S NOT REALLY RELEVANT, BUT IT'S ALL RELEVANT, MURDERS [32:30] ARE DOWN THE LOWEST SINCE 1900, AROUND THE TIME THAT HE HAD THIS PLANT. [32:35] THAT'S 125 YEARS WE HAVE THE LOWEST MURDER RATE. [32:38] OKAY. [32:39] AND OUR CRIME IS WAY DOWN IN THE COUNTRY. [32:42] THE FACTORIES THAT WE'RE TALKING ABOUT, THE PEOPLE THAT WE'RE TALKING ABOUT, THEY ARE [32:47] SO THRILLED WITH TRUMP. [32:48] SO WHETHER WE CHARGE AYIPA TARIFFS OR WHETHER WE CHARGE TARIFFS UNDER A DIFFERENT SECTION, [32:54] THAT'S WHAT WE'RE GOING TO BE DOING. [32:55] THERE'S NO WAY WE CAN ELEVATE. [32:57] THIS IS WHAT HAPPENED TO OUR COUNTRY. [32:58] THIS IS WHY WE OWE $38 TRILLION, WHICH WE'LL GET RID OF IN PRETTY GOOD COURSE. [33:04] WE HAVE A VERY INCOMPETENT FED CHAIRMAN WHO LIKES HIGH INTEREST RATES, FOR POLITICAL REASONS [33:11] HE LIKES THEM, BUT WE'RE GOING TO HAVE SOMEBODY VERY GOOD. [33:16] INTEREST RATES SHOULD COME DOWN VERY SUBSTANTIALLY, I THINK. [33:18] WE SHOULD PAY. [33:19] WE SHOULD PAY THE LOWEST INTEREST RATES ON THE PLANET. [33:23] THERE SHOULD BE NO COUNTRY, AND WE DON'T DO THAT. [33:26] WE'RE NUMBER 38. [33:27] THIS IS JUST BAD POLICY FOR A LONG PERIOD OF TIME. [33:31] BUT WHAT'S HAPPENED IS WE'VE MADE AMERICA STRONG AGAIN. [33:34] WE'VE MADE AMERICA GREAT AGAIN. [33:35] WE SHOULD PAY. [33:36] AS AN EXAMPLE, THE COUNTRY OF SWITZERLAND, WE WERE GETTING ALMOST NO TARIFFS FROM THEM. [33:43] WE HAD A $40 BILLION DEFICIT. [33:47] AND THE PRIME MINISTER CALLED ME UP. [33:49] SHE SAID, BUT WE ARE A SMALL COUNTRY, BECAUSE I SAID WE'RE GOING TO RAISE [33:51] WE'RE GOING TO RAISE IT TO 39% FROM NOTHING. [33:54] THAT WOULD HAVE RENDERED THEM NOT VERY SUCCESSFUL, AS OPPOSED TO RIGHT NOW THEY'RE CONSIDERED ELITE. [34:01] BUT IF WE PUT A TARIFF, AND I REALIZED THEN, SHE SAID, BUT, SIR, WE ARE A SMALL COUNTRY. [34:07] I SAID, YOU'RE A SMALL COUNTRY WITH A BIG DEFICIT FOR US. [34:10] YOU'RE MAKING A LOT OF MONEY OFF THE UNITED STATES. [34:13] IF WE DO THAT, A LOT OF THESE ELITE COUNTRIES, THEY'RE ELITE BECAUSE WE LET THEM MAKE SO MUCH MONEY. [34:20] AND I WANT THEM TO DO WELL. [34:22] BUT I DON'T WANT THEM TO DO WELL. [34:22] BUT I DON'T WANT THEM TO DO WELL. [34:23] BUT I DON'T WANT THEM TO DO WELL ON THE BACKS OF THE AMERICAN TAXPAYERS. [34:26] SO I APPRECIATE YOUR QUESTION. [34:29] I THINK IT'S SO IMPRESSIVE. [34:31] PRESIDENT TRUMP, YOU SAID THAT YOU WERE DISAPPOINTED WITH THAT. [34:34] BUT WERE YOU SURPRISED WITH THIS DECISION? [34:36] WHAT ARE WHAT YOU FELT WHEN YOU. [34:38] I WAS SURPRISED BECAUSE I THOUGHT THAT WHAT WE DID WAS NUMBER ONE, ACCORDING TO I MEAN, I READ THE PARAGRAPHS. [34:45] I READ VERY WELL. GREAT COMPREHENSION. [34:50] I READ EVERYTHING THERE IS TO READ. [34:52] AND I SAID, CAN'T LOSE THIS CASE. [34:55] BUT WE CAN WHEN JUDGES ARE POLITICAL, WHEN THEY WANT TO BE POLITICALLY CORRECT, WHEN THEY'RE CATERING TO A GROUP OF PEOPLE IN D.C., MAYBE. [35:01] I DON'T KNOW WHAT IT IS, BECAUSE WHEN YOU READ IT, THERE'S NO OTHER INTERPRETATION. [35:06] THERE IS NO OTHER INTERPRETATION. [35:09] BUT IT'S OKAY BECAUSE WHAT HAS COME OUT, I'LL SAY IT FOR THE THIRD TIME AND MAYBE THE LAST TIME IN A WHILE, IS THAT WE'VE TAKEN THE UNCERTAINTY OF TARIFFS OUT BECAUSE WE HAD UNCERTAINTY. [35:19] WE GOT SUED BY SLEEZEBAGS. [35:21] I KNOW THEM WELL THAT ARE VERY OUTSIDE COUNTRY. [35:25] CHINA IS A VERY OUTSIDE COUNTRY. [35:25] CHINA IS A VERY OUTSIDE COUNTRY. [35:26] CHINA IS A VERY OUTSIDE COUNTRY CENTRIC, BUT OUTSIDE COUNTRY CENTRIC, AND THEY'RE GOING TO END UP NOT DOING AS WELL AS THEY DID BEFORE. [35:34] AMERICA IS BECOMING REALLY, REALLY, WE'RE STRONG AGAIN. [35:38] HEY, WE HAVE THE STRONGEST MILITARY I BUILT, I REBUILT THE MILITARY IN THE FIRST TERM, WE HAVE THE MOST POWERFUL MILITARY, WE MAKE THE BEST EQUIPMENT, AND EVEN THEM, YOU KNOW, WE HAVE TO, WE COULD DO MUCH BETTER. [35:51] WE HAVE PEOPLE THAT GET PAID A LOT OF MONEY TO MANUFACTURE PATRIOT MISSILES AND GENERALS. [35:55] PEOPLE THAT GET PEOPLE TO MAKE THESE MISSILES AND JAVELINS AND ALL THE DIFFERENT THINGS, BUT WHEN YOU WANT THEM, THEY'RE TOO SLOW, AND WE PUT THEM ON NOTICE, AND THEY'RE GOING TO MAKE, OUR COUNTRY IS BUILDING A LOT OF THINGS RIGHT NOW AND OUR COUNTRY IS DOING REALLY WELL. [36:08] AND WE'RE GOING TO KEEP IT THAT WAY. [36:10] THE BOTTOM LINE IS THAT THE WORD CERTAINTY IS NOW IN THE EQUATION. [36:16] EVERY SINGLE THING I SAID TODAY IS GUARANTEED CERTAINTY. [36:21] IT'S BEEN TESTED, AS JAMISON SAID A THOUSAND TIMES, LITERALLY. [36:25] I SAID HUNDREDS OF TIMES. [36:26] of times, he said, sir, actually thousands of times and one in all of the courts. [36:31] And we're just going back to that. [36:33] And the problem is that we had other presidents that weren't into trade. [36:41] Maybe they weren't business-oriented. [36:43] Maybe they weren't smart. [36:44] We had some dummies, too, respectfully say. [36:47] We had some real dummies. [36:49] So we are going to keep it going just as before, probably more so. [36:55] But you're no longer going to be asked—every time I got up, you'd ask, well, what happens [36:59] if you can't charge tariffs? [37:02] Now we can. [37:03] And, by the way, in their decision, they specifically said, we can do these. [37:07] We have alternatives. [37:08] Yeah. [37:09] On the trade deals that were negotiated using IEPA tariffs, do those stand now, or [37:15] are they—have to be redone? [37:16] Well, some of them stand. [37:18] Many of them stand. [37:19] Some of them won't. [37:20] And they will be replaced with the other tariffs. [37:22] Mr. President, on the tariffs— [37:24] No. [37:25] The Supreme Court justices who ruled against— [37:26] Mr. President, on the tariffs— [37:26] —the policy, striking it down, are they still invited to your State of the Union [37:31] next week? [37:32] Yeah. [37:33] Yeah. [37:34] And will you sort of speak with them? [37:36] They are invited. [37:37] Barely. [37:38] Barely. [37:40] Three are happily invited. [37:41] No, no. [37:42] They're barely—they're barely invited. [37:44] Honestly, I couldn't care less if they come. [37:45] OK? [37:46] Mr. President. [37:48] Thank you, Mr. President. [37:49] Go ahead. [37:50] You. [37:51] Thank you, Mr. President. [37:52] On the trade deal, which is the framework, which is to be signed with India sometime [37:57] soon. [37:58] Does that stand now? [37:59] No, it doesn't. [38:00] And all the decisions— [38:01] Nothing changes. [38:02] Nothing changes? [38:03] No, nothing changes. [38:04] They'll be paying tariffs. [38:05] And we will not be paying tariffs. [38:06] Our deal with India is they pay tariffs. [38:07] This is a reversal from what it used to be, as you know. [38:10] India, I think—Prime Minister Modi is a great gentleman, a great man, actually. [38:16] But he was much smarter than the people that he was against in terms of the United States. [38:23] He was ripping us off in India. [38:25] So, we made a deal with India, and it's a fair deal now. [38:28] We are not paying tariffs to them, and they are paying tariffs. [38:31] We did a little flip. [38:32] Mr. President. [38:38] No, the India deal is on here. [38:39] Thank you so much, Mr. President. [38:41] All the deals are on here. [38:42] We're just going to do it a different way. [38:43] Mr. President. [38:44] Thank you so much, Mr. President. [38:45] I think there is another war that you saw that you should take credit, which is in Syria. [38:50] Secretary Rabio, after his meeting in Munich with the Syrian foreign minister and the Kurdish [38:55] general, Muslim Abdi, he said that President Trump was directly involved with the efforts [38:59] to stop the fighting between the Kurds and the Syrians. [39:02] How will your administration— [39:03] We'll make sure that this peace is sustained. [39:06] And do you support the idea of— [39:07] Well, it's a very different topic, and so I don't want to spend a lot of time. [39:10] But all I can say is that the president of Syria, who I essentially put there, is doing [39:16] a phenomenal job. [39:17] He's a rough guy. [39:18] He's not a choir boy. [39:19] A choir boy couldn't do it. [39:22] But Syria is coming together, really coming together well. [39:26] And thus far, he's been very good to the Kurds. [39:28] Yeah. [39:29] Mr. President, what's your message to the Iranian people after two rounds of talks with [39:34] them? [39:35] Do you have any message to the Iranian people? [39:37] The Iranian people in Iran or people here? [39:40] People in Iran. [39:41] They better negotiate a fair deal. [39:46] You know, the people of Iran are a lot different than the leaders of Iran. [39:52] And it's a very, very, very sad situation. [39:56] But 32,000 people were killed over a relatively short period of time. [40:01] They were going to hang 800 two weeks ago. [40:04] Hang, hang. [40:05] Some by crane. [40:06] They lift them up with a tall crane. [40:08] And they play them around the square. [40:10] They were going to hang 837 people. [40:13] And I gave them the word, if you hang one person, even one person, you're going to be [40:19] hit right then and there. [40:20] I wasn't waiting two weeks and negotiating. [40:23] And they gave up the hanging. [40:24] They didn't hang 837. [40:26] Supposedly, they didn't hang anybody. [40:28] But, no, I feel very badly for the people of Iran. [40:32] They've lived like — they've lived in hell. [40:34] Please. [40:35] Thank you. [40:36] Mr. President, you mentioned multiple times foreign influence over the Supreme Court. [40:39] Do you have evidence of that? [40:40] And if not, will you investigate that? [40:41] You're going to find out. [40:42] You're going to find out. [40:43] You're going to find out, sir. [40:44] What kind — what alternatives are you going to put into place in your relationship with [40:49] Europe, and also those tariffs that have been called illegal? [40:54] How are they going to impact the relationship with Russia that you sanctioned some countries? [40:59] Well, I want Europe to strengthen up. [41:02] Europe has gone woke. [41:03] Europe is not recognizable when you go into so many places, not all countries. [41:07] You look at — you look at Hungary. [41:09] You look at Poland, Czech, Slovakia. [41:13] There are some countries that have gone very much the opposite, some really — and some [41:21] others. [41:22] But Europe has to be strong, and they've become soft and not recognizable. [41:29] You go into some of the countries — I don't want to be specific, but I think everyone [41:32] knows what I'm talking about — and they're not recognizable. [41:38] They've become — the environmentalists have taken over. [41:42] They've got windmills destroying their fields and their beautiful meadows and their oceans, [41:47] and they're paying a fortune. [41:50] No, Europe has to get smart. [41:52] Europe is getting killed on two things, energy and immigration. [41:56] And if they don't solve both of them fast, Europe — Europe is not the same place. [42:01] Yeah, please. [42:02] Mr. President, with justices Fortet and Barrett, are you surprised in particular by their decision [42:07] today? [42:08] I am. [42:09] And do you regret nominating them? [42:10] I don't want to say whether or not I regret. [42:11] I think their decision was terrible. [42:14] I think it's an embarrassment to their families. [42:20] You want to know the truth, the two of them. [42:22] Yeah. [42:23] Mr. President, to be clear, do you believe at the end of implementing these new tariff [42:35] tools, the tariff rate and tariffs will ultimately be higher than they currently are? [42:39] Potentially higher. [42:41] It depends, whatever we want them to be. [42:43] But we want them to be fair for other countries. [42:45] And, you know, we have some countries that have treated us really badly. [42:48] Very badly. [42:49] For years. [42:50] And it's going to be high for them. [42:51] And we have other countries that have been very good. [42:54] And it's going to be very reasonable for them. [42:55] Thank you, Mr. President. [42:56] Specifically on the tariffs question. [42:58] I mean, on the $2,000 — [42:59] I didn't call you. [43:00] I didn't call you. [43:01] Mr. President — thank you, Mr. President. [43:02] Do you have any plans to travel to India for the Quad summit? [43:07] And how do you think your relationship with India is right now? [43:09] I think my relationship with India is fantastic. [43:13] And we're doing trade with India. [43:15] India pulled out of Russia. [43:16] You know, India was getting its — [43:17] You know, India was getting its — [43:18] It's oil from Russia, right? [43:22] And they pulled way back at my request, because we want to settle that horrible war where [43:26] 25,000 people are dying every month. [43:29] And my relationship with Prime Minister Modi is, I would say, great. [43:33] I also stopped the war between India and Pakistan, as you know. [43:37] There were 10 — 10 planes were shot down. [43:40] That war was going and probably going nuclear. [43:44] And just yesterday, the prime minister of Pakistan said, President Trump. [43:49] Thank you, Prime Minister. [43:50] You saved 35 million lives by getting them to stop. [43:55] And I did it, largely, with tariffs. [43:56] I said, look, you're going to fight. [43:57] That's fine. [43:58] But you're not going to do business with the United States. [43:59] And you're going to pay a 200 percent tariff each country. [44:04] And they called up and they said, we have made peace. [44:08] OK? [44:11] I just want to thank you all. [44:12] Look, great certainty has been brought back to the economy of the United States and, actually, [44:18] the economy of the world, because we generate so much in the world. [44:21] We're the biggest in the world, and we're now the strongest by far. [44:24] We were a country that was dead one and a half years ago. [44:27] Now we have the hottest country in the world. [44:29] We're going to keep it that way. [44:30] Thank you very much, everybody. [44:31] Thank you. [44:32] Thank you very much. [44:33] Thank you, Mr. President. [44:35] Did you say 32,000 were killed in Iran, sir? [44:38] Hi, everyone. [44:40] I'm Zinkele Asamoah. [44:41] My co-anchor, Kate Snow, is off today. [44:43] Welcome to NBC News Daily. [44:45] We begin this hour with that breaking news you've been watching. [44:48] President Trump speaking at a press conference following a major blow to his economic agenda. [44:53] The nation's highest court, the Supreme Court, ruling against his use of emergency powers [44:58] to invoke a large portion of his tariffs. [45:01] The ruling was 6-3. [45:03] Three conservative-leaning justices joined the liberal-leaning minority in this decision. [45:08] Justices Clarence Thomas, Samuel Alito, and Brett Kavanaugh dissented. [45:13] Reaction is now pouring in from across Washington, Wall Street, and Main Street. [45:17] It was small. [45:18] Businesses that brought this case against President Trump in the first place. [45:22] One of the small businesses that sued said in a statement in part, quote, [45:25] Though it will be many months before our supply chain is back up and running as normal, [45:30] we look forward to the government's refund of those improperly collected duties. [45:34] But it's still not entirely clear if that aforementioned refund will ever come. [45:39] Small and big businesses, as well as countries caught up in this terror fight, [45:43] are just beginning to sort out what this ruling means for them. [45:46] In a news conference, [45:48] President Trump criticized the majority justices on the ruling, [45:52] calling them a, quote, [45:53] He also announced a new global tariff. [45:57] Today I will sign an order to impose a 10% global tariff under Section 122. [46:04] Over and above are normal tariffs already being charged. [46:08] We are following every angle of this developing story, [46:11] from Washington to your wallet and everywhere in between. [46:14] So I want to begin with NBC News senior legal correspondent, Laura Jarrett. [46:18] Laura, of course, you've been reporting on this. [46:19] Laura, of course, you've been reporting on this. [46:19] You've been reading through this decision all day. [46:21] Walk us through what it says, what it means. [46:22] So let's go through what it doesn't say, [46:25] because it doesn't touch on any of the other authorities that the president has now outlined, [46:29] including the one that he says he plans to invoke to impose a new 10% tariff. [46:34] That is a particular authority that is time limited. [46:38] As he said, the authorities that he now plans to, I guess, impose are complicated. [46:44] They're not easy. They're not straightforward. [46:45] They're certainly not nearly as sweeping as the one that the court struck down today. [46:49] And said that he did not have the authority to impose in the way that he wishes to do so. [46:54] So the one that he says he's going to use, it's time limited. [46:57] It's only for 150 days. [46:58] And then he has to get authorization from Congress. [47:00] It was not before the court today. [47:02] It hasn't been tested. [47:03] He went on at some length about all the different ways he could have imposed these tariffs. [47:08] He said he didn't do it because it was too complicated. [47:10] None of that was before the court. [47:11] The court has not weighed in on the legality of him using any of those. [47:15] And certainly not in the ways that he says he's going to. [47:18] We'll wait to see exactly which authorities he imposes and in what ways he plans to do it. [47:23] Some of them require investigation. [47:25] Some of them require specific findings. [47:27] Some of them require a fair amount of work, which is why they weren't used in the first place. [47:32] So that's why he went this IEPA route, this emergency powers route. [47:36] He said that he has the authority to do tariffs. [47:39] He doesn't have the authority to do tariffs in the way he imposed them through this particular authority. [47:44] So while this case obviously is a major blow, [47:48] for this particular authority, it's clear, and the business owners that we've all talked to have understood, [47:53] he plans to do something else. [47:55] He has a plan B. [47:56] He has a backup plan. [47:57] What that looks like, whether it gives him the result that he wants, [48:01] the legality of that all remains to be seen. [48:04] But it is clear he has no intention of backing down from using some sort of tariffs. [48:09] But it's blockbuster. [48:09] The Supreme Court ruled that he collected $133 billion from small and mid-sized businesses in the United States illegally. [48:18] That they collected, the government collected $133 billion illegally. [48:22] Now what happens next, the small, the businesses that we've talked to, they're hoping they get a refund. [48:26] The president vowing that we could fight for five years. [48:29] He's made it clear, you're going to have to sue me for this money. [48:31] He didn't get up there and say, OK, I lost. [48:33] The Supreme Court has spoken, the highest court in the land. [48:36] I'm going to push the refund button for all of you. [48:38] He said we're going to be tied up in court for the next five years. [48:41] The president also saying that he wants to instate a 10 percent tariff. [48:44] Christine, what should we be making of that? [48:45] So for all of these businesses, again, [48:48] this 10 percent tariff, this new baseline 10 percent would be an improvement, really, from what they're seeing. [48:53] In some cases, they're paying 30 percent, 40 percent. [48:56] I think I think India is 50 percent. [48:58] They're trying to do a deal there. [48:59] But a very, very significant amount of the effective tariff rate. [49:04] So it means the effective tariff rate would go down. [49:07] The president says he wants to use this this authority that he has for 150 days. [49:12] But then Congress has to weigh in after that. [49:14] So you could find yourself if the president wants to just roll this over indefinitely and [49:18] not go through Congress, you could find yourself in court again. [49:20] And someone who asked the president directly about going through Congress was [49:23] NBC's Ryan Nobles, who was in the briefing room and joins us now. [49:27] Ryan, among President Trump's first words, deeply disappointed. [49:31] Talk to us about his reaction in the room and what you asked him about. [49:35] Yeah, I think there's a couple of ways to look at this thing. [49:37] First, how emphatic he was hammering the Supreme Court in a very direct and [49:42] sometimes personal way of going after a group of Supreme Court justices that he appointed, saying at one point that [49:48] their families should be ashamed over this decision. [49:51] He stopped short of saying that he regretted appointing them to the Supreme Court. [49:55] But I do think that we need to put that into context. [49:57] It is not common for a president of the United States to be so personally critical [50:02] of a Supreme Court justice or a group of Supreme Court justices after a ruling. [50:07] And that was at least part of the message [50:09] that the president was trying to make here today in the briefing room. [50:12] But then to your second point about the other avenues he has to employ tariffs. [50:17] Obviously, there are these other [50:18] provisions within the law that Laura outlined that they're going to try to attack. [50:22] That seems to be his first and probably most reliable path forward. [50:27] But the open question here is, is that the way the tariffs have been instituted [50:32] almost since the founding of this country and the way to do it in the most [50:35] foolproof legal way is by getting Congress to write and pass a law. [50:41] And President Trump has just for whatever [50:43] reason, decided that is not the route he wants to go in part and in part of the [50:48] reason I was asking is because there are a lot of Republicans in Congress that [50:52] don't believe that this is good policy and that they believe that it could hurt [50:56] the average American consumer and they are already hurting the average American [51:01] consumer. So the problem that President Trump has [51:03] here is that if he were to go the most foolproof legal way of implementing [51:07] tariffs that would last and wouldn't be subject to the kind of court dealings [51:11] that he's been forced to face would be to get Congress to pass a law. [51:14] But he simply just doesn't have the votes. [51:16] And it's not that he doesn't have 60 votes in the Senate, which would [51:19] require Democratic support. He doesn't even have enough Republican [51:22] support in Congress to get this over the finish line. [51:24] And while he kind of tangled with me with a number of Republicans that have voted [51:28] for it, you know, 215 votes just isn't enough to get something passed in the House [51:32] of Representatives, regardless if it's 215 out of 218 Republicans. [51:37] You need all 218. [51:39] And so that's why he's just going to continue to try and find these other [51:42] novel ways to utilize the law to his benefit to try and implement those tariffs. [51:46] But at every stage of the way, that is [51:48] going to lead to court challenges and it's going to lead to headaches. [51:51] And it's not going to be easy. [51:53] The most direct route is through Congress. [51:54] And that's just not something he's interested in right now. [51:57] Right. Lawmakers on both sides speaking out today. [51:59] We've talked about the courts. [52:00] We've talked about businesses. [52:02] But, Christine, we got to talk about consumers, because since last April [52:05] specifically, when we look at these tariffs, we have seen tariffs impact [52:09] goods coming in from overseas like coffee beans from Brazil and wine from France. [52:14] Just to name a few, we have some of those items up there. [52:18] While this ruling [52:19] does not strike down all of the tariffs, should we expect consumer prices to now go [52:24] down? So, look, if you have a 10 percent global tariff instead of what it was [52:28] already on there, which was much higher than that, that's less one less pressure [52:32] point for prices. No question. [52:35] You know, in a healthy economy, you don't want to see prices falling. [52:37] You want to see prices steady and not rising too quickly. [52:40] Right. So I think that it is good news. [52:43] Many economists will tell you it's good news to not have tariff uncertainty as a [52:47] backdrop. [52:48] I mean, we've seen it in many of these companies, but there's a near term mess [52:52] here, Sinclair, and that's because some of these industries have been trying to [52:55] reroute their supply chains to get around all of this indecision. [52:59] And now the president, it's been struck down. [53:01] One of the major, major authorities he was using on tariffs. [53:05] So we're entering kind of a new phase, I think, of uncertainty. [53:08] So the tariff rate is now lower. [53:09] So that should be good for the consumer price picture. [53:12] But there's still an awful lot of uncertainty there. [53:14] I think we have Steve Patterson, who's actually at one of the ports in California. [53:19] I'd love to just get a sense of the reaction today. [53:21] You're in San Pedro, right? [53:24] Correct. Yeah. [53:25] Look, nobody is celebrating just yet until the supply chain rights itself. [53:29] As everybody is saying at this point, [53:31] we won't have a level of certainty to lead to a level of stability. [53:35] And so I just got off the phone with it. [53:37] We're at the port of Los Angeles. [53:38] I should mention that it is the busiest port in the United States. [53:41] They just had some recent numbers before [53:43] this announcement for the month of January and everything was down. [53:47] Cargo volume was down 12 percent. [53:50] Imports down 13 percent. [53:52] A lot of people here were very worried. [53:54] I spoke to the director of the port of Los Angeles just a few minutes ago. [53:57] He's been speaking to those importers, [53:59] which will affect the supply chain leading down to the consumer. [54:02] There still is that broad sense of uncertainty because we don't know how [54:05] the refund will work out if there will be something of that nature. [54:09] And so he's been saying importers talking now to their factories. [54:12] The only actionable thing that can be [54:14] done is to push some of this cargo traffic through. [54:17] And so the month of March, usually one of [54:19] the lightest months of the year for a port like this, he expects volume to [54:23] increase significantly as these importers talk to those factories to try to push [54:27] cargo through, they do expect to see a volume increase. [54:30] But until again, the supply chain stabilizes and we have a little bit more [54:33] information about how this all shakes out, we're not going to really get [54:37] a celebration as of yet, Sinclair. [54:39] Yeah. [54:39] And we're trying to figure out how it's all going to shake out. [54:41] So I want to bring in NBC News legal analyst Misty Maris. [54:45] Misty, a lot of the president's remarks had to do with his frustration with the courts. [54:49] Right. [54:49] We know this was a six to three decision. [54:51] And I want to read part of Justice Kavanaugh's dissent. [54:55] He said he writes, quote, The court says nothing today about whether [55:00] and if so, how the government should go about returning the billions, [55:04] billions of dollars that it has collected from importers. [55:07] But that process is likely to be a, quote, [55:09] mess, as was acknowledged at oral argument translation. [55:12] The court could have said, OK, we're making [55:14] this ruling on tariffs moving forward, but not retroactively. [55:18] Instead, [55:19] they didn't quite say anything. [55:20] So what might that mean for the state of refunds? [55:23] That's to say the least. [55:24] There's no guidance as to how that will play out. [55:26] So what's going to happen? [55:28] It's going to go to the Court of International Trade. [55:31] And there we're going to have a whole new [55:32] subset of case law dealing with this refund issue. [55:37] We know that there have been some businesses who have actually filed [55:40] lawsuits trying to preserve their right for a refund. [55:44] The question, OK, what does that mean? [55:46] If some didn't, is it waived? [55:47] There's going to be a whole new [55:49] set of case law. And as President Trump said, this is something that's going to [55:52] be tied up in court likely for years to figure this out. [55:56] And in the interim, we may have new imposition under other [56:00] sections with respect to tariffs. So it's going to be a long, complicated process. [56:04] And there were a lot of questions and maybe [56:05] criticisms from the president at that press conference about the extent of his [56:09] presidential power. First, I want us to listen to some of what he said. [56:14] Well, I am sure that they did not mean to do so. [56:17] The Supreme Court's decision today made a president's [56:21] ability to both regulate trade and impose tariffs more powerful and more [56:26] crystal clear rather than less the president. [56:30] They're saying that the Supreme Court [56:31] essentially gave him more presidential power. [56:33] Can you give us sort of a fact check there? [56:35] Is that really how this played out? [56:37] Yeah, I beg to differ, because I think [56:39] actually this was an extreme check on presidential power because we're talking [56:43] about the economic consequences. Obviously, that's huge. [56:47] But there's another aspect of this case that's also really significant. [56:50] This was a. [56:51] An attempt at a significant expansion of presidential power. [56:56] These were unilateral tariffs that were enacted. [56:59] No time limits, no, no question about the scope. [57:03] So this was something that if the Supreme [57:05] Court had gone the other direction, would have given the president a tremendous [57:09] amount of power over Congress. So this, in my view, from reading this decision, [57:14] this was saying this power under this particular law does not lie with the [57:18] president. Congress is the one to implement. [57:21] And so to me, this was a limitation, by the way, common theme in many of the cases [57:27] before the Supreme Court expansion of that executive authority. [57:30] Right. Multiple lawyers at the table. [57:31] Laura, I saw you shaking your head at that as well. [57:33] Because the whole thing is before this decision came down, he was saying this is [57:38] life or death, this is everything, this is a matter of national security. [57:41] And now he's saying the decision doesn't really matter. [57:44] I get to do whatever I want anyway. [57:45] You don't get to have it both ways. [57:47] Either the court gave you a loss and said you don't have the authority [57:51] to do this or they didn't. It's clear they're saying uniformly he got it wrong [57:56] in this case. They're not saying you can't try other ways, [57:59] but they're not actually touching on those other ways. [58:01] They're not getting into any of those because that wasn't before them. [58:04] So he can try them. [58:05] Those may get tested, too. [58:07] But all they're saying is that in this [58:08] particular instance, with this particular statute, he went too far. [58:12] It's no question it's a check on presidential authority here. [58:14] The president has been trying to remake global trade. [58:17] He says it needs to be done for the benefit of the United States. [58:20] And he's the only one who knows how [58:21] to do it. And the Supreme Court has said, Mr. [58:24] President, we disagree. [58:25] You have used an authority you do not have. [58:27] You have illegally collected one hundred [58:29] and thirty three billion dollars from American businesses, some of which was [58:32] passed on to American consumers and that taxing that tariff authority really lies [58:38] in the hands of Congress. He put on he lost these big tariffs. [58:42] He put on he says he will. [58:43] We have to see a 10 percent flat tariff. [58:46] OK, that 10 percent that's using something called Section 122. [58:50] Laura and I, I'm not [58:51] funny, but I have geeked out with Laura enough to know as I read it with her, [58:55] you have one hundred and fifty days to put that tariff on for 10 percent and then [58:59] you need Congress to go along with it so that he he as Ryan was pointing out, [59:03] he wants to do this himself, he's going to need Congress in some of these cases. [59:06] And he's really made the point tariffs, tariffs, tariffs. [59:09] So, Christine, what does this decision [59:11] ultimately mean for the president's economic agenda here? [59:14] He has said that tariffs are the reason [59:16] why the economy is the hottest in the world after being, you know, dead cold. [59:19] And, you know, you hear these metaphors [59:21] from him all the time. But when you look at the last 10 months, [59:25] the U.S. economy has lost eighty thousand manufacturing jobs. [59:28] What were the tariffs meant to do to bring back American manufacturing jobs? [59:31] When you look at the goods deficit ended last year at a record high. [59:35] What were these tariffs meant to do to kill or shrink the goods deficit? [59:39] You know, there are other authorities that are still at play here. [59:42] Steel and aluminum are some of those some of these other tariffs he's put on [59:46] specifically like autos, but these reciprocal tariffs. [59:49] Remember, he stood in the Rose Garden with [59:51] a big poster with all of these numbers on it. [59:53] Those are the tariffs that the Supreme Court says he did not have, [59:57] does not have the authority to levy. [59:59] Those are also the tariffs he used to as as as a as a stick, not a carrot, [1:00:04] to really get countries to the table for trade deals. [1:00:07] Unclear what happened to the trade deals and all of those promises of investments [1:00:11] in the U.S. based on trying to get around these tariffs. [1:00:14] And to the point of the messaging of this administration, Ryan, [1:00:17] I want to go back to you because it's not lost on me that the State of the Union [1:00:21] is next week and the president already had firm words for the justices today, [1:00:25] asked explicitly if he regretted nominating any of them. [1:00:29] I wonder, Ryan, what is the path forward for the White House after today's ruling, [1:00:34] especially given that affordability in the economy has been such a cornerstone [1:00:38] of their policy here and not only that, simply the implementation of tariffs is [1:00:44] a bedrock of that pitch that they've been making to the American people about [1:00:48] a turnaround that they claim exists in the American economy. [1:00:51] So. [1:00:51] You know, I'm sure his speechwriters right now are going back to the drawing [1:00:55] board and trying to find a way to work this setback into his speech to make a [1:01:00] case for why tariffs are an important part of his economic policy going forward. [1:01:05] You know, I think back to President Obama's term and there was a specific [1:01:10] moment where during a State of the Union, he specifically specifically chastised [1:01:15] members of the Supreme Court while they were in the room. [1:01:18] And at that time, there was huge backlash to that, [1:01:21] that it was inappropriate, that that wasn't the role of the executive to [1:01:24] criticize a co-equal branch of government in that fashion, that it could lead to [1:01:28] intimidation of the court down the road. [1:01:30] Well, President Trump did a version of that today, but almost on steroids in the way [1:01:34] that he went after these members of the Supreme Court. [1:01:37] If you remember when President Obama made that criticism of the Supreme Court [1:01:42] justices, several of them just stopped going to the State of the Union, [1:01:45] skipping it altogether, saying it wasn't worth it. [1:01:47] And I've been in the room for many states of the union and we're seeing fewer [1:01:51] and fewer Supreme Court justices actually go and take part in it. [1:01:55] But there will certainly be an interesting [1:01:57] dynamic between the ones that do decide to show and the president if they decide [1:02:01] to come next week, but at the very least, he was trying to send a message to them [1:02:07] and perhaps lay the groundwork for future decisions as a result of this. [1:02:11] Brian, thank you. [1:02:12] And I think beyond the policy right beyond the decision is Americans and their money. [1:02:16] So, Christine, we know stocks rallied. [1:02:19] How is Wall Street and Main Street reacting [1:02:22] to this? I think that Wall Street really kind of was expecting this was going [1:02:25] to happen. Laura and I and some of these earlier arguments were like, whoa, [1:02:29] this sounds like they're really skeptical about the president's authority to do [1:02:32] this. And of course, you know, that's something that Wall Street saw. [1:02:35] But a lower effective tariff rate, even for a short period of time, [1:02:39] is something that investors clearly would like. [1:02:42] And, you know, one tech analyst told me this is good for tech stocks and their [1:02:46] supply chains. It's good for the A.I. trade. [1:02:48] These things that have been such such energy in the overall [1:02:52] economy for consumers, unclear what it means quite yet. [1:02:55] You know, the president has said he's fixed inflation. [1:02:58] The economy is great and that Americans feel wonderful about the Trump economy. [1:03:03] I think the consumer sentiment polls show otherwise. [1:03:06] People know that prices have risen over five years and they still feel I mean, [1:03:10] they still feel, you know, an affordability crunch. [1:03:14] So I don't know how this in the very [1:03:17] tomorrow changes prices, the grocery store for car insurance. [1:03:20] And today we have Steve Patterson [1:03:22] from San Pedro at the port. [1:03:24] Steve, I wonder you were there during what President Trump called Liberation Day. [1:03:29] How might the tone of today differ? [1:03:34] You know, I think the tone is going to vacillate really depending on what happens next. [1:03:41] There's a lot of uncertainty back then. [1:03:43] There was a lot of uncertainty still today. [1:03:45] I don't think it is righted the shift part in the bad pun, so to speak, here at the port. [1:03:50] And I think a lot of people were upset, specifically in the port community. [1:03:53] A lot of jobs are tied. [1:03:54] To what happens here, both import and export. [1:03:57] About 20 percent of the total trade in general through California is with China. [1:04:03] That relationship has been described as abysmal earlier this week. [1:04:07] So I think it just all depends on what these deals mean next. [1:04:10] What trade deals get put into place due to the fact that this tariff is expiring [1:04:15] and what tariffs implemented through these trade acts will happen next. [1:04:20] So I think that all sort of depends on how the market writes itself. [1:04:24] And as to do with, you know, what happens in the next few months or days. [1:04:28] Certainly a consequential day. [1:04:30] Ryan Noble, Steve Patterson, Laura Jarrett, Misty Maris and Christine Romans. [1:04:34] Thank you all so much. [1:04:35] We thank you for watching. [1:04:37] And remember, stay updated on breaking news and top stories on the NBC News app [1:04:41] or watch live on our YouTube channel.