00:00In the last few hours, the city has been very long before and without the impact of the city.
00:13The city of Kroon is about 6 million people.
00:14On the first half of the city, the city of Kroon, the city of Kroon, the city of Kroon, the
00:19city of Kroon.
00:38I don't take a position for Mr. Trump or against Mr. Trump, nor do I offer him advice on how
00:45he should do his job.
00:46In fact, I encourage him to do the best that he can because we need him to.
00:50But that notwithstanding, it's not political.
00:53It's about taxes, and they owe us money.
00:57What I was afraid of was not retaliation because I'm not attacking a man.
01:03I'm attacking the unlawful application of law.
01:07So I don't really think of Mr. Trump on the other side.
01:11It's not us against Mr. Trump.
01:13It's us against a law that was incorrectly applied.
01:17I expect the government to give me my money back with interest.
01:21And as soon as they do, we'll start spending it because that's what we do.
01:25And right now, I'm trying to guide the company back to normalcy, which is a state of mind, not a
01:34condition.
01:34And so we want to run our company again.
01:40Wow.
01:42That's a lot of people.
01:43The Supreme Court's ruling on tariffs is deeply disappointing.
01:50And I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right
01:58for our country.
01:59I'd like to thank and congratulate Justices Thomas, Alito, and Kavanaugh for their strength and wisdom and love of our
02:07country.
02:08Anyway, foreign countries that have been ripping us off for years are ecstatic.
02:14They're so happy.
02:16And they're dancing in the streets, but they won't be dancing for long.
02:20That I can assure you.
02:21The Trade Act of 1974, sections 122, 201, 301.
02:27And the Tariff Act of 1930, section 338, all clear.
02:33But it's a little bit longer process.
02:35I thought I'd make things simple, but they didn't let us do that.
02:40In actuality, while I am sure that they did not mean to do so, the Supreme Court's decision today made
02:48a president's ability to both regulate trade and impose tariffs more powerful and more crystal clear rather than less.
02:57Donald Trump's speech is just like his tariffs.
03:01Erratic, disorganized, based on fiction.
03:05Trump's tariff tax was illegal, and the courts agreed.
03:10And let's call it, let's call these tariffs for what they are.
03:15A tax on the American people.
03:17Congress has the ultimate authority to impose these tariffs.
03:21I am urging, for the sake of American families pleading with my Republican colleagues,
03:26to buck Donald Trump and not allow him to impose these tariffs on the American people.
03:40I think it's a terrible ruling by the Supreme Court.
03:43I think it's an awful decision.
03:44I think the tariffs have been absolutely working.
03:46If you look at any metric or any data, there's been a tremendous amount of manufacturing on-shoring.
03:51There's been $20 trillion of commitments that are coming into the country.
03:55I think it's going to be reversed in a certain fashion.
03:58I think there's a plan B and a plan C.
04:00I think the Treasury Secretary, Scott Bessent, among other folks, have different options available.
04:05And it's a to-be-determined situation.
04:07I think there's really two big items in his agenda.
04:12One was Big Beautiful Bill, and the second was these tariffs.
04:15And they're kind of merged together to say the tariffs would help pay for the losses of revenue in the
04:21Big Beautiful Bill.
04:22And that was never true to begin with.
04:24But nonetheless, the loss of tariff revenue will require about $175 billion in tariff refunds.
04:35Today, technically, the Supreme Court didn't talk about the refunds, but it's generally understood that those refunds would therefore be
04:44required.
04:44And then secondly, it's really going to lead to questions of whether President Trump will try the other mechanisms in
04:55trade law to try to replace that tariff revenue.
04:58Here's what I'll say is that markets definitely want this tariff revenue to kind of go away.
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