Elizabeth Economy, a Hargrove Senior Fellow at the Hoover Institution and author of "The World According to China," delves into the complexities of U.S.-China trade relations. She examines the recent federal appeals court decision that provided Trump with a temporary reprieve on tariffs, highlighting legal challenges and their implications. The conversation touches on the resilience of American consumers despite rising tariffs and economic uncertainties, as well as the future competitive dynamics between the U.S. and China in an evolving global landscape.
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insights INSIGHT
Misuse of Emergency Powers for Tariffs
The Trump administration misapplied the International Emergency Economic Powers Act to justify tariffs.
The Act does not authorize tariffs and requires a declared national emergency involving unusual external threats.
insights INSIGHT
China's Economy: Strength and Struggles
China's economy is dual-natured: troubled but technologically advancing rapidly.
The U.S. must focus on innovation and investment at home instead of solely relying on tariffs.
insights INSIGHT
Targeted Review for Chinese Students
Most Chinese students in the U.S. contribute positively to innovation and education.
Blanket visa revocations hurt valuable students and should be replaced by targeted reviews.
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A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, offering at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order.
The administration celebrated the order from the US Court of Appeals for the Federal Circuit as validating its vow to aggressively challenge a ruling issued Wednesday night by the Court of International Trade blocking sweeping parts of Trump’s tariffs over his use of the International Emergency Economic Powers Act, or IEEPA.
“I can assure you, American people, that the Trump tariff agenda is alive, well, healthy, and will be implemented to protect you, to save your jobs and your factories,” trade adviser Peter Navarro told reporters on Thursday.
Even as Navarro celebrated the temporary stay, the possibility that the appeals court could ultimately back the original ruling and block Trump’s tariff policy hung heavy over the White House. Separately, a second federal judge declared a number of Trump’s levies enacted using emergency powers unlawful, but limited his decision to the family-owned business that sued and delayed the order from taking effect for 14 days to allow the Justice Department time to appeal.
Today's show features:
Bloomberg News US Legal Reporter Erik Larson and Jimmy Gurulé, Professor of Law at Notre Dame Law School and Founder and Director of the Exoneration Justice Clinic
Elizabeth Economy, Hargrove Senior Fellow and co-chair of the Program on the US, China, and the World at Stanford University’s Hoover Institution
Dr. David Kelly, Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management
Bloomberg Businessweek 