Aug 11, 2026 · 43 min · 14 segments
Inspired by a toolbox passed down from his grandfather, Jeff uses Episode 33 to unpack the real tariff tools the President is reaching for in 2026. With IEEPA gone and decades‑old authorities suddenly…
Now, you know, in the world of trade, it works in the same way.
These are a set of legal authorities that presidents can use.
Some tools are used all the time.
Some tools sit untouched for decades.
Some tools were designed for a world that no longer exists.
and some tools only work for very specific jobs.
Now, many of these tariff authorities were written in the 1930s, the 1960s, or even the 1970s.
They were designed for a different era, different industries, different geopolitical realities, different trade volumes, and different enforcement needs.
For years, presidents didn't need them because they had IEPA, the International Emergency Economic Powers Act.
This was the Swiss army knife of trade tools.
IEPA gave presidents flexibility, speed, and broad authority.
When IEPA tariffs were struck down by the Supreme Court, the administration had to go back into the shed and pull out tools that hadn't been touched in decades.
Some of these tools were designed for problems that we no longer have.
Some are narrow, and some are clunky, and some are outdated.
But they're what's in the toolbox, so they're being used.
Now, I believe that tariffs are here to stay and will continue to be used in some way as a trade tool.
In the past year, courts have struck down two of the government's primary tariff tools, and the response both times wasn't to retreat, it was to use the next tool in the box.
And that's not a policy that's going away anytime soon.
So, in this episode, we're gonna walk through the tariff toolbox.
What's in it? What's being used? what's expired, and what might come next.
So let's go ahead and open the toolbox.
Now, you know, in the world of trade, it works in the same way.
These are a set of legal authorities that presidents can use.
Some tools are used all the time.
Some tools sit untouched for decades.
Some tools were designed for a world that no longer exists.
and some tools only work for very specific jobs.
Now, many of these tariff authorities were written in the 1930s, the 1960s, or even the 1970s.
They were designed for a different era, different industries, different geopolitical realities, different trade volumes, and different enforcement needs.
For years, presidents didn't need them because they had IEPA, the International Emergency Economic Powers Act.
This was the Swiss army knife of trade tools.
IEPA gave presidents flexibility, speed, and broad authority.
When IEPA tariffs were struck down by the Supreme Court, the administration had to go back into the shed and pull out tools that hadn't been touched in decades.
Some of these tools were designed for problems that we no longer have.
Some are narrow, and some are clunky, and some are outdated.
But they're what's in the toolbox, so they're being used.
Now, I believe that tariffs are here to stay and will continue to be used in some way as a trade tool.
In the past year, courts have struck down two of the government's primary tariff tools, and the response both times wasn't to retreat, it was to use the next tool in the box.
And that's not a policy that's going away anytime soon.
So, in this episode, we're gonna walk through the tariff toolbox.
What's in it? What's being used? what's expired, and what might come next.
So let's go ahead and open the toolbox.
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