May 28, 2025

Summary

Summary of "Letters from an American" – May 28, 2025 Episode

Hosted by Heather Cox Richardson

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Judicial Battle Over Trump's Tariffs

In the May 28, 2025 episode of Letters from an American, Heather Cox Richardson delves into the ongoing legal challenges facing former President Donald J. Trump concerning his imposition of tariffs. A significant development occurred when a three-judge panel from the U.S. Court of International Trade ruled that Trump’s extensive use of tariffs under the International Emergency Economic Powers Act (IEEPA) was unconstitutional.

Political Analyst discusses the ruling, stating, “The U.S. Constitution gives exclusively to Congress the power to impose tariffs” (00:36). The judges, appointed by Presidents Ronald Reagan, Barack Obama, and Trump, emphasized that while the IEEPA allows the president to adjust tariffs during national emergencies, Trump's actions exceeded constitutional limits. Since assuming office on January 20, 2025, Trump declared multiple national emergencies to justify various tariffs, which the court found to be an overreach.

The court’s decision effectively blocks all tariffs imposed by Trump under the IEEPA, marking the end of his tariff initiatives. The Political Correspondent notes, “Congress manifestly is not permitted to abdicate or to transfer to others the essential legislative functions with which it is thus vested” (01:30). Although the Trump administration plans to appeal the decision, the ruling underscores a broader principle that limits executive authority beyond legislative boundaries.

Wall Street Reacts: The Rise of "Taco Trade"

The episode highlights how Trump's tariff policies have influenced financial markets. Political Analyst introduces the term "taco trade" (Trump Always Chickens Out), a phrase coined by Robert Armstrong of the Financial Times earlier in the month (02:00). This term describes Trump's pattern of threatening substantial tariffs and subsequently retracting them, creating opportunities for investors. Armstrong explains, “Investors have figured out that they can buy stocks cheaply immediately after Trump's initial tariff announcement and then sell higher when stocks rebound after he changes his mind” (02:26).

Since taking office, Trump has altered tariff policies over 50 times, leveraging market volatility to benefit the Trump family’s business interests. The Political Correspondent elaborates on this strategy, noting the financial gains achieved through these inconsistent tariff maneuvers (02:45).

International Business Ventures Amidst Turmoil

Despite the legal setbacks and economic controversies, Trump's business empire continues to expand internationally. Recently, Eric Trump partnered with Vietnam’s Prime Minister Pham Minh Chinh to inaugurate a $1.5 billion luxury real estate project featuring three 18-hole golf courses near Hanoi (02:50). This move is particularly noteworthy as Vietnam is a significant exporter to the United States. In an attempt to mitigate the impact of a 46% tariff imposed on Vietnamese goods, Vietnamese officials expedited a deal with the Trump Organization, bypassing their own regulatory procedures (03:17).

Additionally, the Trump Organization is forging new partnerships in Serbia, Indonesia, and the Middle East, demonstrating resilience and adaptability in the face of judicial and economic challenges (03:30).

Controversial Use of Presidential Pardons

A prominent theme in the episode is Trump's ongoing use of presidential pardons. Recently, he granted clemency to 25 individuals, including former Representative Michael Grimm and former Connecticut Governor John Rowland, both convicted of tax fraud (03:44). Notably, Trump also commuted the life sentences of Larry Hoover, a Chicago gang leader responsible for a sprawling criminal empire across 31 states (03:37).

Political Analyst comments, “Trump's pardons of Republicans convicted of tax crimes seem in keeping with his favoring of the wealthy” (04:34). However, the commutation of Hoover's sentence presents a paradox, juxtaposing the administration's strict stance on undocumented immigrants and their alleged connections to gangs. Officials argue for the deportation of migrants suspected of gang affiliation, even without criminal records, citing national security concerns. Yet, Trump’s leniency towards a high-profile gang leader raises questions about the consistency and motivations behind his pardon decisions (04:36).

Aligning with the Far-Right Base and QAnon Ideology

As Trump faces legal and political setbacks, he seeks to consolidate support among his far-right base. Following the court’s decision on tariffs and after reacting angrily to a reporter’s inquiry about the "taco trade," Trump posted a provocative meme on social media. The image featured him walking down a dark, wet city street with Pepe the Frog—a far-right symbol—hovering in the background. Accompanying the image were the bold statements, “HE’S ON A MISSION FROM GOD” and “NOTHING CAN STOP WHAT IS COMING,” phrases commonly associated with the QAnon conspiracy movement (05:50).

Political Correspondent interprets this move as Trump’s attempt to reinforce his dominance and appeal to extremist factions, reminiscent of his earlier exhortation to the Proud Boys in September 2020 to “stand back and stand by” during efforts to overturn the 2020 election results (05:20). Heather Cox Richardson connects these actions to Trump’s broader strategy of maintaining influence over right-wing vigilante groups and conspiracy theorists, signaling a continued alignment with destabilizing political elements.

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Heather Cox Richardson's insightful analysis in this episode of Letters from an American underscores the complex interplay between legal constraints, economic strategies, and political maneuvering characterizing Trump's post-presidential landscape. The discussions highlight the enduring impact of Trump's decisions on both national policy and international relations, as well as the intricate relationships between his business interests and political base.

Produced at Soundscape Productions, Dedham, MA. Recorded with music composed by Michael Moss.

Transcript

[Unknown Speaker]

Foreign.

[Political Analyst]

Today's news continues.

[Political Correspondent]

Yesterday's judges continue to decide cases against.

[Political Analyst]

Trump, with a three judge panel at.

[Political Correspondent]

The U.S. court of International Trade ruling today that President Donald J. Trump's sweeping.

[Political Analyst]

Liberation Day tariffs are illegal.

[Political Correspondent]

The judges, one appointed by President Ronald Reagan, one by President Barack Obama and one by Trump himself, noted that the.

[Political Analyst]

U.S. constitution gives exclusively to Congress the power to impose tariffs.

[Political Correspondent]

In 1977, Congress passed the International Emergency Economic Powers act, often abbreviated as I eepa, delegating to the president the power.

[Political Analyst]

To adjust tariffs in times of national emergency. But Trump has used that power far beyond what the Constitution will permit. Since he took office on January 20.

[Political Correspondent]

2025, the judges noted Trump has declared several national emergencies and imposed various tariffs in response. But the IEEPA has meaningful limits, the court writes, and an unlimited delegation of tariff authority would be unconstitution.

[Political Analyst]

The court blocked all the tariffs Trump.

[Political Correspondent]

Imposed under the ieepa, thus ending Trump's tariff spree. Although the administration will appeal, Congress manifestly is not permitted to abdicate or to transfer to others the essential legislative functions with which it is thus vested, the court writes. That principle echoes far beyond tariffs, as.

[Political Analyst]

The impoundment of funds by the Department.

[Political Correspondent]

Of Government Efficiency takes from Congress the power to pass laws that the executive branch must faithfully execute. Tariffs were in the news today in another way, too, as Wall street analysts have begun to talk of taco trade, short for Trump always chickens out.

[Political Analyst]

The phrase was coined earlier this month.

[Political Correspondent]

By Robert Armstrong of Financial Times and.

[Political Analyst]

Refers to Trump's habit of threatening extraordinarily tariffs and then backing down.

[Political Correspondent]

Armstrong noted that investors have figured out that they can buy stocks cheaply immediately after Trump's initial tariff announcement and then sell higher when stocks rebound after he changes his mind.

[Political Analyst]

Trump's tariff machinations he has moved them more than 50 times since he took.

[Political Correspondent]

Office are also enriching the Trump family. Last week, Trump's son Eric Trump joined Vietnam's prime minister Pham Min Chin in.

[Political Analyst]

A groundbreaking ceremony for a $1.5 billion.

[Political Correspondent]

Luxury real estate development with three 18.

[Political Analyst]

Hole golf courses outside the Vietnamese capital of Hanoi. Vietnam sends more of its exports to the United States than to any other country.

[Political Correspondent]

And after Trump hit Vietnam with 46% tariffs, top officials in Vietnam ignored the country's own laws to ink a hurried.

[Political Analyst]

Deal with the Trumps to to head the tariffs off.

[Political Correspondent]

The Trump Organization is also cutting deals in Serbia, Indonesia and the Middle East.

[Political Analyst]

Trump's pardons also continue to be in the news. Today, the president granted clemency to 25.

[Political Correspondent]

People, including former Representative Michael Grimm, a Republican of New York, and former Connecticut governor John Rowland, both of whom were.

[Political Analyst]

Convicted of tax fraud. Trump also commuted the six federal life sentences of Chicago gang leader Larry Hoover.

[Political Correspondent]

74, who was convicted of murder, extortion.

[Political Analyst]

Money laundering and drug related offenses, and.

[Political Correspondent]

From prison ran a notorious drug gang that had about 30,000 members across 31.

[Political Analyst]

States and brought in an estimated $100 million a year. Hoover still faces what's left of a.

[Political Correspondent]

200 year sentence in Illinois for murder. While Trump's pardons of Republicans convicted of tax crimes seem in keeping with his favoring of the wealthy.

[Political Analyst]

Trump's commutation of the sentence of a.

[Political Correspondent]

Gang kingpin seems an odd counterpoint to.

[Political Analyst]

His administration's stance on undocumented immigrants. Administration officials insist they must be able to deport migrants they allege are gang.

[Political Correspondent]

Members, even if they have no criminal histories. They can ignore due process, they claim.

[Political Analyst]

Because of the dangers those individuals present to the American people.

[Political Correspondent]

And yet Trump has now commuted the sentence of a gang leader convicted of.

[Political Analyst]

The very sorts of crimes the administration.

[Political Correspondent]

Insists justify denying to undocumented immigrants the rights guaranteed by the Constitution.

[Political Analyst]

Hoover's pardon is reminiscent of Trump's advice to the right wing proud boys in.

[Political Correspondent]

September 2020 to stand back and stand by as he courted the support of.

[Political Analyst]

Vigilante groups to help him steal the 2020 election. It is in keeping with Trump's statement.

[Political Correspondent]

That he's looking at pardons for the.

[Political Analyst]

Men convicted of conspiring to kidnap Democratic.

[Political Correspondent]

Michigan Governor Gretchen Whitmer tonight after news.

[Political Analyst]

Broke that the judges had ruled his.

[Political Correspondent]

Tariffs illegal, and after he had reacted angrily to a reporter's question about the taco trade. A weakened Trump reached out to his alt right base as he appeared determined to demonstrate dominance. He posted a meme on his social media account showing an image of himself walking toward the viewer on what appears to be a wet nighttime city street. Pepe the Frog, a symbol of the far right, stands in the background above Trump. In all capital letters are the words he's on a mission from God. Below his feet, also in all caps, the message continues and nothing can stop what is coming. This is a phrase from the right wing QAnon conspiracy community and refers to the idea that members of the deep state and its collaborators will soon be arrested.

[Heather Cox Richardson]

Letters from an American was written and read by Heather Cox Richardson. It was produced at Soundscape Productions, Dedham, MA. Recorded with music composed by Michael Moss.