Should presidents impose tariffs without waiting for Congress?

I'll address the legal kerfluffle point, which I think is a good one, because I do think that the great debate that's going to happen from this presidency and will likely shape the next set of presidencies will be the right for presidents to declare emergencies, to move forward their legislative agenda. And arguably, the tariff institution by many members of Congress should have gone through a congressional process. In the meeting I did with Rand Paul this week, which has now been posted, he talked about the challenge that they have had with democratic presidents, Biden and prior to that, using emergency authorization vested to them under the National Emergencies Act, which is a 1976 statutory authority to take action. And then in order for the emergency powers to be turned off, Congress actually has to vote and they can only do so after 30 days. And when Congress makes that vote, the president can veto their vote. So the president can then send it back. So then they have to get a two-third super majority to get it to pass. So it creates a system whereby the president can have this emergency authorization to progress much of their legislative agenda under the guise of emergency powers, which, you know, for many people, they would say is not the right way to do it. So Senator Paul and others have proposed bills, for example, that the president has to get any emergency power re-authorized after 30 days. And then it can only be a maximum of 90 days without Congress enacting a renewal. And so it requires actual congressional action to continue the authority of that emergency power. Depending on what the Supreme Court does or doesn't do, I think it is going to catalyze a legislative push. And the Republicans are likely not going to embrace it, this presidency or this term, because President Trump is in office. But I think the conversation that some out-of-the-box Republicans, like Senator Paul and others are saying, is, well, what's going to happen next time? What's going to happen when there's a Democrat president and we don't like what they're pushing for?

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Well, look, I think that in general, when you have a policy that you want to last for a long time, the best thing to do is to codify it into law because executive orders obviously only lasts until the next president decides they don't want them anymore. So yeah, it may make sense after the administration hopefully wins its case to seek to codify these things into law. We have a few years to do that. But I don't think it makes sense to wait for Congress to act because they may never act. And in fact, it was President Trump who shifted the whole debate on this topic. I mean, the whole establishment of both the Republican and Democrat parties were very against tariffs, and it's pretty obvious that nothing would have happened on this issue. And he's completely moved the debate. So this is just one where I think he's acted unilaterally because he had to. But I think that once these tariffs are in place for a few years, I don't think they're going to get pulled back by a future president because I think they're going to...

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