【聊了什么】

2月20日，美国最高法院以6:3推翻了特朗普基于IEEPA（国际紧急经济权力法）征收的全部关税，判定"监管进口"不等于"征收关税"，税收权属于国会。但特朗普在判决出炉仅三小时后便签署新行政令，以贸易法第122条重新加征10%的全球关税。（录制期间，特朗普宣布将新增的10%关税提高到15%。）

本期我们讨论了：IEEPA到底是什么？最高法院的多数意见和反对意见分别说了什么？为什么多数派法官内部也吵成了好几派？特朗普的关税工具箱里还剩什么？1700亿的退税怎么退？以及这场判决对中期选举和美国经济意味着什么。

本期节目录制于美国时间2026年2月21日上午。

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【时间轴】

01:48 IEEPA是什么？紧急状态权力的历史背景

05:25 核心法律问题："regulate importation"包不包含征收关税？

08:45 最高法院多数意见：罗伯茨与"重大问题原则"

13:00 自由派的赞同意见 vs 戈萨奇46页无差别开炮

18:02 反对意见：托马斯的"王权论"与卡瓦诺63页全力护航

29:33 1700亿退税难题：退给谁？怎么退？

34:37 特朗普的反击：122条与关税工具箱盘点

44:43 判决的实质影响：形式变了，关税没变

46:27 国会动态：共和党倒戈与退休潮中的内生反对派

58:01 经济大背景：GDP不及预期、通胀未降与中期选举压力

1:05:02 最高法院与特朗普：蜜月结束了吗？

1:11:28 大法官人物分析：戈萨奇 vs 卡瓦诺

【我们是谁】

美轮美换是一档深入探讨当今美国政治的中文播客。

我们的主播和嘉宾：

Talich：美国政治和文化历史爱好者

王浩岚：美国政治爱好者，岚目公众号主笔兼消息二道贩子

小华：媒体人

品达：美国政治观察人士

【 What We Talked About】

On February 20, the U.S. Supreme Court ruled 6-3 to strike down all tariffs imposed by Trump under IEEPA (International Emergency Economic Powers Act), holding that "regulate importation" does not mean "impose tariffs" and that the power to tax belongs to Congress. But just three hours after the ruling, Trump signed a new executive order reimposing a 10% global tariff under Section 122 of the Trade Act. (During the recording of this episode, Trump announced an increase of the new 10% tariff to 15%.)

In this episode, we discuss: What exactly is IEEPA? What did the majority and dissenting opinions say? Why were even the majority justices divided into several camps? What tools remain in Trump's tariff toolbox? How will $170 billion in tariff refunds be handled? And what does this ruling mean for the midterm elections and the U.S. economy?

This episode was recorded on the morning of February 21, 2026 (U.S. time).

【Support Us】

If you like our show and want to support us, please consider the following:

Join our membership program: https://theamericanroulette.com/paid-membership/

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Business Inquiries and fan mail: american.roulette.pod@gmail.com

【Timeline】

01:48 What is IEEPA? The history of emergency powers

05:25 The core legal question: Does "regulate importation" include imposing tariffs?

08:45 The majority opinion: Roberts and the Major Questions Doctrine

13:00 Liberal concurrence vs. Gorsuch's 46-page all-out attack

18:02 The dissent: Thomas's "royal prerogative" theory & Kavanaugh's 63-page defense

29:33 The $170 billion refund problem: Who gets it and how?

34:37 Trump strikes back: Section 122 and the tariff toolbox

44:43 Real-world impact: The form changed, the tariffs didn't

46:27 Congress reacts: Republican defections and a growing internal opposition

58:01 Economic backdrop: GDP misses expectations, inflation persists, and midterm pressure

1:05:02 The Supreme Court and Trump: Is the honeymoon over?

1:11:28 Justice profiles: Gorsuch vs. Kavanaugh

【Who We Are】

The American Roulette is a podcast dedicated to helping the Chinese-speaking community understand fast-changing U.S. politics.

Our Hosts and Guests:

Talich：Aficionado of American politics, culture, and history

王浩岚 (Haolan Wang): American political enthusiast, chief writer at Lán Mù WeChat Official Account, and peddler of information

小华 (Xiao Hua): Journalist, political observer

Pinda：American political enthusiast

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