Wall Street Week Legality of Tariffs, Business Leaders on Mamdani, Pediatrics Under Pressure, Protein Boom
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Nov 7, 2025 Jennifer Hillman, a trade law expert, dives into the complex legalities of presidential powers over tariffs and what potential Supreme Court rulings could mean for Americans. Owen Thomas, CEO of BXP Properties, shares insights on the intersection of real estate and affordability, questioning how private capital can help solve housing issues in New York. They also discuss the challenges pediatricians face in the vaccine debate, highlighting financial strains and misconceptions about profits, along with trends driving the increasing protein consumption among Americans.
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Constitutional Stakes Of Tariff Authority
- The Supreme Court is deciding if Congress illegally delegated tariff power to the president under IEPA.
- If struck down, $88–$100 billion in tariffs paid may have to be refunded with interest.
Prepare For Alternate Trade Authorities
- Expect the administration to pursue other statutory routes if IEPA is rejected, like Section 301 or Section 122.
- Watch how the Court may limit IEPA rather than fully endorse broad tariff authority.
Tariffs' Broader Economic Costs
- Tariffs raise consumer prices and slow the economy, acting like a self-inflicted supply shock.
- They produce revenue but also raise interest rates and can worsen the deficit impact.
