Musk out, tariffs in tatters: is MAGA in meltdown?
The News Agents
Global
4.2 • 4.3K Ratings
🗓️ 29 May 2025
⏱️ 47 minutes
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Summary
A trade court has smacked down Donald Trump's "Liberation Day" sweeping tariff plans. Three judges ruled that the US president had pushed the boundaries of his own executive authority beyond its limits when implementing broad tariffs. Members of Trump's camp have already labelled it a "judicial coup" and insisted the decision will be overturned quickly. But this is another hammer blow to his economic plan - can he restore his credibility with the markets after months of relentless uncertainty?
Later, Keir Starmer has used an impromptu speech in the north-west to paint Nigel Farage as Liz Truss 2.0 - warning that he would "crash the economy" and trying to focus voters' minds on the choice between Labour and Reform. The next election is four years away - so why is the PM holding a campaign style stump speech to attack a political rival? And will it work?
The News Agents is brought to you by HSBC UK - https://www.hsbc.co.uk/
Transcript
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| 0:00.0 | The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity. |
| 0:08.0 | This is a global player original podcast. A federal court just blocked the majority of Trump's |
| 0:14.7 | tariffs, the Court of International Trade, saying he overstepped as authority on an International |
| 0:19.8 | Emergency Economic Powers Act. This was, I believe, the three-judge saying he overstepped his authority on an international emergency economic powers act. |
| 0:23.2 | This was, I believe, the three-judge panel. |
| 0:25.5 | There was a Reagan appointee, a Trump appointee, and a Biden appointee on this. |
| 0:30.4 | That is the sound of a sledgehammer being taken to Donald Trump's signature, |
| 0:36.7 | principal economic policy, his massive round of tariffs, |
| 0:41.1 | which have shaken the world economy on Wednesday night being blocked by a panel of federal judges |
| 0:48.3 | in the United States. So where does this leave Trump's economic policy? Where does it leave Trump? But more important, where does it |
| 0:57.7 | leave the global economy which must feel it is on a never-ending helter-skelter ride? Welcome to the |
| 1:07.2 | newsagents. The newsagents. |
| 1:12.7 | The newsagents. |
| 1:13.8 | It's John. |
| 1:14.5 | It's Lewis. |
| 1:16.2 | And as we were saying there, |
| 1:18.1 | between our sledgehammers and helter-skelters. |
| 1:19.5 | We never... Never knowingly undersold on the newsagels. |
| 1:21.4 | Never knowingly undersell our metaphors. |
| 1:22.5 | No, absolutely not. |
| 1:24.2 | It was a really, really big moment in the Trump presidency, the still young second Trump presidency. |
| 1:30.3 | Because as we know, Trump has always loved tariffs. They are, after all, his favorite word. |
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