Fareed Zakaria GPS – “Trump’s Tariffs at the Supreme Court”

Date: November 9, 2025
Host: Fareed Zakaria
Notable Guests: Noah Feldman, John Yoo, Andrew Ross Sorkin, Biana Golodriguez, Yonit Levy

Episode Overview

This multifaceted episode of Fareed Zakaria GPS explores three urgent topics shaping America and the world:

• The Supreme Court’s landmark hearing on Trump’s sweeping use of tariffs and presidential emergency powers;
• Parallels between today’s AI-driven stock market boom and the historic crash of 1929;
• The resurgence and redefinition of anti-Semitism amid the Israel-Gaza conflict, and Gen Z’s impact on global politics.

Fareed draws on expert guests—constitutional scholars Noah Feldman and John Yoo, financial journalist Andrew Ross Sorkin, and Israeli journalist Yonit Levy and CNN anchor Biana Golodriguez—to analyze legal, economic, and cultural trends.

Main Segments and Key Discussions

1. Fareed’s Opening Take: Lessons for Democrats After Recent Elections

Timestamps: [00:02]–[09:43]

• Theme: The Democratic Party’s rocky fortunes and what recent electoral wins (especially Zoran Mamdani in NYC and gubernatorial races in Virginia/New Jersey) reveal about American political trends.
• Analysis:
  • Democratic success was achieved by candidates who focused on economic concerns and “a tone of steadiness and respect,” not culture wars.
  • Both culture (rapid social change, backlash) and class (credentialism vs. those shut out of the new economy)—not just economics—are increasingly dividing voters.
  • Fareed notes, “Politics now shapes people’s sense of economic reality, not the other way around.”
  • He warns against nostalgia-driven right-wing populism and advocates for a “democratic meritocracy” pairing opportunity and humility.

Quote (Fareed Zakaria, [06:30]):
“People do not want to be told that they are wrong to feel uneasy. They want leaders who acknowledge that unease and help them navigate it.”

2. Trump’s Tariffs at the Supreme Court

Timestamps: [09:43]–[20:00]
Guests: Noah Feldman (Harvard), John Yoo (UC Berkeley, Bush DOJ)

• Background: Trump’s 2025 declaration of a sweeping trade emergency (via the International Emergency Economic Powers Act, or IEPA) imposed broad tariffs; the case tests the constitutional limits of presidential power.
• Legal Arguments:
  • Feldman: The law plausibly gives the President some power to “regulate importation,” but never at this sweeping scale. Precedents exist but are limited.
  • Yoo: Courts traditionally defer to the President on “emergency” claims, but declaring a generational economic trend (trade deficits) a national security emergency is a stretch—echoed by skeptical justices in oral arguments.
  • Major Questions Doctrine: Feldman explains Chief Justice Roberts’ new standard: Congress must be explicit when delegating “major” power shifts—used previously to block Biden decisions, and now likely to block Trump.

Quote (Noah Feldman, [13:12]):
“If the President claims authority from Congress to do something that is very big, it's major, and which he's never done before, then we're going to presume that he doesn't have that authority unless Congress very specifically and explicitly said that he does.”

• Implications:
  • Limiting Trump’s authority sets a precedent for future executive power battles.
  • If the White House responds by flouting or attacking the judiciary, it could escalate Court-White House tensions for upcoming cases on deportations, personnel, agency dismissals, etc.
  • Both scholars warn of the dangerous growth of presidential power; Feldman expresses hope this ruling will mark a turn toward reinvigorating checks and balances.

Quote (John Yoo, [16:37]):
“...behind it is the struggle between...the Supreme Court on the one hand and the White House...If the administration goes too far in overreacting here to a loss...they jeopardize...their agenda at the Supreme Court.”

3. Are We in an AI Stock Market Bubble?

Timestamps: [20:23]–[26:49]
Guest: Andrew Ross Sorkin (Author of “1929”)

• Comparison of Eras:

  • Sorkin draws explicit parallels between the “euphoria” of the 1920s—radio stocks, automobile fever, massive leverage—and today’s AI and tech boom, where just a few firms drive most of the market’s wealth.
  • Notable differences: The tech giants today are profitable and less leveraged than in 1929, but the systemic threat emerges from massive government debt (vs. a 1929 surplus).

• Risks Identified:

  • Corporate spending and leverage among non-tech sectors (energy, real estate for data centers) might be trouble spots.
  • Physical constraints, especially energy (powering AI data centers), could limit further growth.
  • Human psychology—fears and overconfidence—remain unchanged, making bubbles and busts perennial.

Quote (Andrew Ross Sorkin, [26:31]):
“We are all human and we are exactly the same. And I think the lesson is, unfortunately, how can we have a little bit of humility? When people have this confidence...that’s when they probably don’t [know].”

4. Anti-Semitism, Anti-Zionism, and Navigating a Difficult Age

Timestamps: [28:12]–[34:25]
Guests: Biana Golodriguez, Yonit Levy (authors of “Don’t Feed the Lion”)

• Background: Post-October 7, 2023, attacks and subsequent Israel-Gaza conflict, anti-Semitic incidents have surged globally. Colleges, activists, and leaders struggle to draw the line between anti-Israel, anti-Zionist, and anti-Semitic rhetoric.

• Key Distinctions:

  • Criticizing Israeli government policy is legitimate; blanket anti-Zionism (denial of Israel’s right to exist) crosses into anti-Semitism.
  • Students (and their parents) often face uncomfortable questions and inadequate guidance.

• On Free Speech in Academia:

  • The Trump administration calls to “crack down” on anti-Semitic speech on campus, but universities are wary of stifling open debate.
  • Golodriguez: Too often Jewish students are “gaslit”—told their experience of antisemitism is simply criticism of policy.

Quote (Yonit Levy, [31:33]):
“If you say, you know what, I’m not an anti-Semite, I’m just an anti-Zionist. It’s a little bit like saying, you know what, I’m not against the English, I’m just against the English who think that England has a right to exist.”

5. Gen Z in Politics: Zoran Mamdani’s Mayoral Victory and the Global Youth Wave

Timestamps: [35:13]–[40:22]

• NYC’s New Mayor: Zoran Mamdani’s landslide win—fueled by populist policies and savvy social media—embodies Gen Z’s new political energy.

• Gen Z’s Global Impact:

  • Youth-led, internet-coordinated movements are toppling governments (Nepal’s PM, street protests from Asia to Africa).
  • “One Piece” anime’s Straw Hat Jolly Roger becomes a global protest symbol.
  • Gen Z’s political voice is defined by authenticity, meme culture, and a demand that leaders “speak their language.”

• Implications for Parties:

  • Success isn’t just about policy, but relatable, internet-native communication—on both left (Mamdani) and right (AfD in Germany, Charlie Kirk for Trump).

Quote (Fareed Zakaria, [38:33]):
“There is a new, established Gen Z political culture today, one that demands authenticity and fresh ideas from its leadership, communicated through the language of the Internet.”

Notable Quotes & Moments

• Fareed Zakaria ([06:30]):
  “People do not want to be told that they are wrong to feel uneasy. They want leaders who acknowledge that unease and help them navigate it.”
• Noah Feldman ([13:12]):
  “The Major Questions doctrine is a way for the Supreme Court to say that the President doesn’t have certain powers that the President is asserting.”
• John Yoo ([16:37]):
  “If the administration goes too far in overreacting here to a loss...they jeopardize their agenda at the Supreme Court.”
• Andrew Ross Sorkin ([26:31]):
  “When people have this confidence, when it looks like they absolutely know, that's when they probably don't.”
• Yonit Levy ([31:33]):
  “If you say, you know what, I'm not an anti-Semite, I'm just an anti-Zionist. It's a little bit like saying, you know what, I'm not against the English, I'm just against the English who think that England has a right to exist.”

Segment Timestamps

• Opening analysis / Democrats’ challenges: [00:02]–[09:43]
• Supreme Court / Trump’s tariffs: [09:43]–[20:00]
• AI bubble & stock market crash risk: [20:23]–[26:49]
• Anti-Semitism, anti-Zionism, and young readers: [28:12]–[34:25]
• Gen Z’s global political revolution: [35:13]–[40:22]

Final Takeaway

This episode stands as a reflective snapshot of pivotal trends—legal, economic, and generational. From the courtroom battles over presidential power to generational waves redefining activism and leadership, Fareed Zakaria GPS offers a panoramic view of what shapes today’s—and tomorrow’s—America and world.