00:00I'm standing outside the Supreme Court where the justices have just struck down President Donald Trump's far-reaching global tariffs,
00:09handing him a significant defeat on an issue that is central to his economic agenda.
00:15The justices voted 6-3 in ruling that an emergency powers law that does not, in fact, use the word
00:22tariffs,
00:23does not give Trump the authority to impose tariffs, including reciprocal tariffs he imposed on nearly every country.
00:32In the majority were Chief Justice John Roberts, as well as two justices that Trump himself appointed in his first
00:40term,
00:41Justices Neil Gorsuch and Amy Coney Barrett.
00:44The court's three liberal justices were also part of the majority.
00:49The court did not address how or whether any of the money collected so far,
00:56which is roughly $130 billion, according to federal data through December,
01:02whether any of that would have to be refunded, and if so, how.
01:06That's a 10. That's a good deal.
01:18This is the first of Trump's second-term agenda to reach the Supreme Court in a full review,
01:26and it was a significant defeat that the justices handed him.
01:31And the fake news, always, the fake news will always complain,
01:34but never forget every prediction our opponents made about trade for the last 30 years has been proven totally wrong.
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