00:00Does it mean it's not a comment?
00:01Rachel.
00:02Thanks, Caroline.
00:02Back on trade.
00:04I know you said the White House is going to fight this ruling in court.
00:07Is the administration actively reviewing other avenues,
00:10other options to carry out the president's trade policy?
00:13The president's trade policy will continue.
00:16We will comply with the court orders,
00:17but yes, the president has other legal authorities
00:20where he can implement tariffs.
00:22However, it does not dispute the fact
00:25that the president was right to declare a national emergency
00:28when it came to fentanyl and also when it came to our crippling deficits
00:32and the lack of critical supply chains here at home.
00:35That is the reasoning for the president's tariffs.
00:37And the court didn't dispute those facts, by the way.
00:40And there have been other courts
00:41that have reaffirmed the president's position.
00:43In fact, a ruling in federal court earlier this month
00:45shows that the administration is in the right,
00:48said we will win on appeal.
00:49A federal district judge in Florida ruled that IEPA, in fact,
00:52does grant the president the authority to unilaterally impose tariffs.
00:55And 20 years ago, I will add, they are not a court.
00:59The New York Times editorial board responded
01:01to the January 2005 trade deficit of $58.3 billion
01:05by writing an editorial entitled Dangerous Deficits.
01:09And since then, our trade deficit has more than doubled.
01:11The U.S. trade deficit in January
01:13totaled a whopping $131.4 billion.
01:16So people on both sides of the aisle,
01:19pundits, lawyers, legal scholars, politicians,
01:22have all agreed that it is a national emergency.
01:24Our trade deficits
01:26and our lack of critical supply chains here at home.
01:29It's just President Trump was the first president
01:31to actually act on it,
01:32to restore that wealth and that prosperity
01:34to the United States of America.
01:35And it's very unfortunate
01:36that the courts are now blocking his attempt to do that.
01:39So has the administration then reached the point
01:40where you are actually asking your economic advisors
01:43to start reviewing other avenues
01:44to implement the president's trade policy?
01:46Or do you want to just see this legal process take place for now?
01:49We can walk and chew gum at the same time.
01:50We are doing both.
01:52Josh.
01:52The President...
01:53it's the president.
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