For more on what today's ruling means for the economy, we're joined by Natasha Sarin,

Professor of Law and Finance at Yale University and President of the Budget Lab at Yale.

Good to see, and Natasha. So we got this Supreme Court ruling at 10 o'clock Eastern.

By 2 p.m., the president had announced a new slate of tariffs.

Help us understand which of the tariffs are now gone and which are in place.

So I will say it is a bit of a whirlwind. And the nature of what happened this morning was you

basically had the president having effectuated across the board tariffs on allies and adversaries

alike at levels that we haven't seen in the last century.

The Supreme Court said that about two-thirds of those tariffs, the tariffs that had been

issued under this particular authority called AIPA were invalidated as a result of their

decision. And then, as was widely expected as a result of a decision like this, the president said he

plans to use other authorities like Section 232 or Section 122 of the Trade Act in order to

be able to essentially keep in place tariffs that were at levels that were dismissed by the

Supreme Court earlier this morning. That's actually a harder

thing to do in practice than you might think having listened to the president this afternoon

because there are more rules and process requirements associated with the other authorities

that he's trying to deploy, which is why his preferred authority was one that

the Supreme Court said simply couldn't weather the burden of tariffs as broad-based as those

that this administration has pushed for. And you just heard a little bit about this in the previous

conversation. What about those billions in tariff revenue? Could retailers and manufacturers

see some kind of a refund? Could consumers

as well? You know, what's so interesting is that in oral argument, Justice Sammy Coney Barrett

...