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WSJ Editorial Board is praying for the SCOTUS to grow balls:

The world is waiting for the Supreme Court to rule on the legality of President Trump’s “emergency” tariffs, and Mr. Trump’s weekend tariff spree against European allies underscores again why his abuse of his authority needs to be reined in.

The episode puts in sharp relief how open-ended Mr. Trump’s claim of tariff emergency authority is. He can declare an emergency on his own, he can decide which countries and goods he can hit with the border taxes, and at what rate. This means he can use tariffs essentially whenever he wants for whatever reason he wants. Congress gave him no such expansive power under IEEPA or any other statute.

Tariff apologists will say the Greenland tariffs show the uses of border taxes for foreign policy, but the taxing power is Congress’s under the Constitution unless expressly delegated to the President.

https://www.wsj.com/opinion/donald-trump-tariffs-greenland-ieepa-supreme-court-2a4a6591

On polymarket the current bet is 31% chance they won't.

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“Ren saw a Russia devastated by hyperinflation... Ren felt that the United States was partly to blame: Washington had coaxed the leader of the new Russia, Boris Yeltsin, to apply “shock therapy” to the economy with a rapid shift to capitalism, he wrote, but Washington did not follow through with the financial aid it had dangled. “They always give you some bait to get you to change some policies, but when you’ve made changes according to their demands, they raise further demands,” Ren wrote. “You still cannot get ‘sincere’ help from the United States.”

At the end of the day, the Russians remained wary about installing Chinese switches in their networks. “We are still unsure how much we know about Russia and if we can really open up the market,” Ren wrote to staff.

( Read more... )

-- Eva Dou. “House of Huawei.”