The Trade Guys The IEEPA Bombshell, WTO Pocket Rescission, and Export Licenses to China
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Sep 8, 2025 The podcast dives into the recent Federal Court ruling on the legality of tariffs, which could reshape trade practices. A rare pocket rescission targeting the WTO is analyzed, revealing tensions in international trade commitments. The discussion also highlights the new export licensing requirements for semiconductor giants like SK Hynix and Samsung, signaling a shift in U.S.-China relations. Additionally, legal battles over presidential powers and foreign aid implications shed light on the evolving landscape of trade policy. Tune in for these intriguing insights!
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IEEPA Ruling Hinges On Statutory Limits
- The appellate court found the fentanyl and reciprocal tariffs illegal under IEEPA while splitting over whether IEEPA ever authorizes tariffs.
- The decision centers on statutory text, legislative history, and prior Nixon-era precedent limiting tariff scope and duration.
Plan For Current Tariffs, Don’t Wait For Court
- Businesses should plan pragmatically and not rely on a favorable Supreme Court outcome before it happens.
- Operate under current tariffs and explore fallback authorities like Section 122 of the Trade Act of 1974 if needed.
Major Questions And Foreign Policy Tension
- Recent Supreme Court commentary suggests the major questions doctrine may not apply the same in foreign affairs due to presidential Article II powers.
- That creates judicial tension between deference in foreign policy and economic impacts at home.