The Supreme Court tariff ruling is a huge deal legally and politically, with historical parallels to 1890 protectionism backlash.

Kevin Hassett suggests alternative authorities exist if Supreme Court blocks tariffs, claiming tariffs work as intended.

Market shows uncertainty with Dow up only 40 points, retail down, Nike negative despite expected celebration.

Douglas Irwin's analysis shows tariff revenue loss of 40-50% from quarter trillion due to ruling, with focus on reciprocity and guardrails.

Justice Gorsuch emphasizes legislative process for major decisions affecting American people.

Market reaction widely anticipated with NASDAQ up 0.7% but churning down; Supreme Court will likely see more cases on this.

Mike Johnson defends tariffs as bringing billions and creating leverage for America First trade agreements.

Tariff rates have round-tripped from 2-3% to 28% peak down to 6-9% post-ruling; consumers ultimately pay these costs.

Tepid market reaction due to anticipation; key will be political response from Republicans and Democrats.

Specific example: 25% tariff on Mizuno baseball gloves from Japan affects costs and competitive dynamics.