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Wednesday, February 25, 2026

The Economics of Smoot Hawley 2.0, Part II

The Economics of Smoot Hawley 2.0, Part II

This trade war is really a class war

 

Most of Donald Trump’s tariffs are clearly illegal. There is a special court, the Court of International Trade, which is supposed to have jurisdiction over these issues, and it ruled the tariffs illegal on May 28. However, the ruling was stayed while the administration appealed the decision to the Federal Circuit Court. Those following the deliberations mostly believe that this court will uphold the trade court’s ruling. But then the case will go to the Supreme Court, and almost everyone expects the Supremes to rule that Trump can do whatever he wants.

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