What Happens Next with Trump’s Tariffs?

Paul Krugman: “I have no idea what happens next. The Supreme Court is utterly craven, and may well rule that Trump gets to do whatever he wants. But maybe even they will balk.”

“One crucial thing to understand is that Trump is facing a completely self-inflicted disaster here. He probably could have gotten Republicans in Congress to vote for insane trade policy. But he was impatient, and wanted to start ruling as a dictator right away.”

“I see that Scott Bessent is saying that ruling that Trump’s illegal tariffs are, in fact, illegal will embarrass the United States. I’m not a lawyer, but last I heard you weren’t allowed to act illegally if obeying the law would be embarrassing. Anyway, let’s be clear: It won’t embarrass America. It will embarrass Trump and Bessent. If anything, it might reassure the rest of the world that some vestige of rule of law yet remains in this nation.”