The World and Everything In It 11.10.25 Presidential power and tariffs, New York’s experiment with socialism, and the wreck of the Edmund Fitzgerald
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Nov 10, 2025 In this installment, Jeff Palomino, a World correspondent, delves into the Supreme Court's examination of presidential tariff authority, highlighting the arguments surrounding the regulation of imports. David Bonson, a financial analyst and founder of The Bonson Group, critiques New York's experiment with socialism, warning of potential impacts on wealth migration. They also discuss the current state of U.S.-China trade relations and the dangers of adopting China's industrial policies. Moreover, tales from the sinking of the Edmund Fitzgerald reveal maritime safety reforms born from tragedy.
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IEPA And Presidential Tariff Power
- The IEPA's phrase "regulate importation" is being tested as a basis for presidential tariff authority.
- Justices questioned whether that vague grant allows the president to impose broad, economy-altering tariffs.
Frame Tariffs Carefully In Court
- Lawyers for the administration framed the tariffs as regulatory, not revenue-raising, to fit IEPA.
- Businesses and states argue courts should treat tariffs as taxes, reserving that power for Congress.
Major Questions Doctrine Limits Executive Reach
- The major questions doctrine demands clear congressional authorization for decisions with vast economic impact.
- Justices probed whether IEPA is too vague for such a sweeping tariff power without explicit language.