Newt's World Episode 960: Michael Faulkender on Trump’s Tariffs
Mar 28, 2026
Michael Faulkender, Co-Chair of American Prosperity at the America First Policy Institute and former senior Treasury official, explains the Supreme Court ruling that limits presidential tariff authority and how Congress holds primary tariff power. He also discusses housing affordability struggles, rising first-time buyer age, regulatory burdens, and supply-side fixes to boost housing and cut costs.
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Court Limits Presidential Tariff Flexibility
- The Supreme Court decision narrows presidential tariff flexibility by rejecting broad use of the International Emergency Economic Powers Act for tariffs.
- Michael Faulkender explains IEPA was prized for immediate action, but the ruling forces presidents to use narrower, slower statutory paths like Sections 232 and 301.
Three Strategic Purposes Of Tariffs
- Faulkender outlines three tariff goals: encourage onshoring/manufacturing, generate revenue, and create negotiation leverage.
- He warns tariffs can raise importers' costs short-term and must be balanced against US affordability pressures.
Tariff Power Still Exists But With More Constraints
- The Court did not eliminate presidential tariff authority but said IEPA cannot be used so broadly to impose tariffs.
- Faulkender notes Congress has delegated tariff powers in other statutes, but those carry more procedural constraints and investigations.