A Friday night smackdown over President Trump's tariffs, a high-stakes fight to decide the future of the Fed,

and the sudden glimmer of hope the Democrats are holding on to both hands in Iowa.

All tonight on Laracote's Live.

Yeah, well, it's Friday night in the second Trump administration term, which of course means we have some major legal dramas unfolding.

In fact, I bring you a doubleheader tonight.

Two cases with some pretty high stakes.

Both of them could have consequences for your bank accounts, your jobs, frankly, the entire U.S. economy. And both of them will test just how much power the President of the United States actually has.

So with Trump's Liberation Day tariffs.

A federal appeals court ruled seven to four that most of them are not legal. Quote,

tariffs are a tax. And absent a valid delegation by Congress, the president has no authority to impose

taxes. In other words, stay in your separation of powers lane. And forget about trying to use the emergency powers law to get around Congress, because that's not happening, they think.

But let's not get ahead of ourselves here, or the court, because the tariffs are actually still in effect.

And does anyone think this is not going to the Supreme Court? The Attorney General already said

they're going to appeal in President Donald Trump. I think he thinks he's going to win.

Because in true fashion, he wrote, if allowed to stand, this decision would literally destroy

the United States of America. Adding to that hyperbole, for many years, tariffs were allowed to be used against us. Now, with the help of the United States of America. Adding to that hyperbole, for many years,

tariffs were allowed to be used against us.

Now, with the help of the United States Supreme Court,

we will use them to the benefit of our nation.

Now, that's pretty bold even the times we're in,

to assume winning before the Supreme Court

would be a foregone conclusion. The other big case I mentioned is one

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