Well, howdy there, Internet people, it's bell again.

So today, we're going to talk about the Trump-EU trade deal stalling, and more economic news.

The Supreme Court struck down Trump's unlawful tariffs.

Trump immediately doubled down and invoked Section 122 of the Trade Act of

1974 to reimpose tariffs. This introduced more uncertainty. Markets hate uncertainty. Another problem

arose when Trump started publicly giving his reasons for invoking Section 122.

Much like the last time, he doesn't seem to understand that Congress delegated tariff power to him in a limited scope for limited reasons.

So, if you invoke tariffs to, hypothetically speaking, of course, obtain leverage in

trade negotiations, and that authorization only allows the president to impose tariffs when

there is a large and serious balance of payments deficits or significant currency depreciation, it'll likely be struck down too.

It would also be beneficial to a president if they understood that balance of payments and balance

of trade, trade deficits, aren't the same thing. I'm pretty sure Trump has already given enough public statements

about his rationale to have his new tariffs struck down too, or at least limited. If I know this,

other countries know this. In completely unrelated news, the EU has halted ratification of one of the only real

trade deals Trump was able to obtain. After an emergency meeting in Brussels, European lawmakers

complained about how things were, quote, so uncertain. the Parliament's Trade Committee Chief said

that nobody knows what will happen and said quote it's unclear if there will be

additional measures or how the United States will really guarantee.

In other words, the EU is wondering if the U.S. will keep up its side of the trade deal.

So, there is no reason to move forward with it until they get clarity.

When you're talking about trillions of dollars over the long term, certainty seems like a reasonable request.

Trump rambling on social media isn't helping. He posted, quote,

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