Trump's backup options for tariffs

This episode of The Indicator from Planet Money discusses the legal challenges facing President Trump's use of the International Emergency Economic Powers Act (IEPA) for tariffs, as the Supreme Court reviews its legality. The hosts, Stephen Basaja and Wailin Wong, along with guests Phil Magnus and Inu Manik, explore alternative tariff laws the Trump administration could use if the Supreme Court rules against IEPA. These alternatives include Section 338 of the Tariff Act of 1930 (Smoot-Hawley), Section 122 of the Trade Act of 1974, and Section 232 of the Trade Expansion Act of 1962, each with different restrictions on duration, rates, and scope. The discussion also touches on the constitutional power of Congress to set tariffs and the political reasons why a president might prefer to act unilaterally.