00:01In Soviet Russia, there was a famous joke.
00:04You turn on the radio and hear about Lenin.
00:07You open the newspaper and read about Lenin.
00:10Now I'm terrified to open my fridge.
00:13These days, one could say the same about Donald Trump and his global tariffs.
00:18Because after a US Supreme Court ruling called his last week tariffs unconstitutional,
00:24Trump simply doubled down and announced a new 15% import tax anyway.
00:29So what actually happened and how it will affect you?
00:34The Supreme Court ruled that the US Constitution gives the power of taxation strictly to Congress, not the President.
00:42By using emergency laws to tax the world, Trump overstepped his authority.
00:47And for the EU, this creates chaos.
00:51Last summer's still unratified EU-US trade deal, capping tariffs at 15%, is now in legal limbo.
00:59And with those powers voided, the European Commission is asking now for clarity,
01:05as European companies could potentially get billions in refunds for the tariffs they already paid.
01:11But here is the catch.
01:13This doesn't affect Trump's order tariffs on steel, aluminium and cars, which relied on completely different laws.
01:22But even with a conservative Republican-nominated majority, the Supreme Court still ruled against Trump.
01:29And in response, he publicly attacked the very justices appointed by Republican presidents.
01:34They're just being fools and lapdogs for the rhinos and the radical-left Democrats.
01:40So, back to that fridge joke.
01:42If these new tariffs hold, expect whatever the EU imports from the US to get more expensive.
01:49But there is hope.
01:50Danish shoppers are now using a new app that scans products to help you easily find local alternatives to US
01:58imports.
01:59So, perhaps, it's time for Europe to follow the famous motto.
02:03Improvise.
02:04Adapt.
02:05Overcome.
02:06Welcome back to Europe.
02:09Welcome back to London.
02:09Good power.
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