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

So today, we're going to talk about Trump, tariffs, scotus, and soybeans.

The U.S. Supreme Court has agreed to quickly hear a case about Trump's tariffs,

which were broadly struck down by lower courts.

The court will hear the case in November,

which, if you haven't become familiar with how painfully slow the court moves, is very, very quickly.

Small businesses and states agreed to the fast timetable, probably in no small part because those

small businesses say that Trump's tariffs are driving

them into bankruptcy.

The central question in this case will be whether or not Trump can use emergency powers

to enact the tariffs in the way that he did.

That means this case will give us a preview of how the court will view Trump's other uses of

emergency powers. The other thing that will occur is that Trump's cornerstone economic policy

will be settled by the Supreme Court before the midterms really get underway. The September 2nd

report from Yale's The Budget Lab estimates that 61 to 80%

of the new 2025 tariffs were passed through to consumer core goods prices. So when Trump announces

$100 billion in new tariff revenue, that's $61 to to 80 billion in new taxes on Americans. These policies

and prices are going to take their toll on the American consumer and are likely to influence the

midterms. In a bizarre political twist, if the court strikes down Trump's policies, it might

actually help his party in the midterm.

If his policies were to be struck down, it would also likely alter all of his trade war dynamics,

and possibly bring them to a close sooner. As it stands, Trump's trade war has placed the entire

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