Agent Chaos Strikes – Multidimensionally!

Policy uncertainty through 8/1:

Figure 1: EPU – trade (blue, left scale), EPU (green, right scale). Source: policyuncertainty.com.

One thought on “Agent Chaos Strikes – Multidimensionally!

  1. Macroduck

    More uncertainty, but of the good kind:

    https://www.cbsnews.com/news/trumps-tariffs-poised-for-major-test-before-federal-appeals-court/

    Looks like the U.S. Court of Appeals for the Federal Circuit isn’t convinced that the felon-in-chief has the authority under the International Emergency Economic Powers Act to impose tariffs at all, much less in the unsupported and haphazard way he has employed.

    There is also some question whether the Supreme Court will prove much friendlier to the felon’s usurpation of Congressional powers:

    https://www.cbsnews.com/news/trumps-tariffs-supreme-court/

    “Under the major questions doctrine, Congress must give clear authorization for a federal agency to decide an issue of major political or economic significance — a view that conservatives on the court have often cited in recent years to limit federal agency actions.”

    Assuming the felon loses in the Appeals Court case (which seems likely), and that Supreme Court agrees to hear a further appeal (no idea), then the Supreme Court will either prove itself to be two-faced (it is), or it will apply the major questions doctrine to the use of the IEEPA to impose tariffs. Application of that doctrine could mean repeal of most, maybe all, of the felon’s second-term tariffs.

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