Transcript
Charles Schwab Announcer (0:00)
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Giles Snyder (0:15)
Live from NPR News in Washington, I'm Giles Snyder. President Trump used his State of the Union speech last night to defend his tariff plan, saying the Supreme Court's ruling that he lacks the emergency power to
NPR Reporter (0:29)
impose many of the import taxes could
Giles Snyder (0:31)
lead to a solution under different legal statutes.
President Trump (0:34)
As time goes by, I believe the tariffs paid for by foreign countries will, like in the past, substantially replace the modern day system of income tax, taking a great financial burden off the people that I love.
NPR Reporter (0:49)
The Supreme Court ruled last week that Trump exceeded his authority by using the International Emergency Economic Powers act to implement his tariff plan. Trump quickly replaced them with a new set of import taxes set at 15%. The law says Congress will have to extend them after five months, but Trump suggested that congressional action will not be necessary.
Giles Snyder (1:09)
President Trump focused much of his speech on jobs, manufacturing and an economy that he said is stronger than many believe.
NPR Reporter (1:16)
NPR's Domenico Montanaro TRUMP decided to talk
Domenico Montanaro (1:19)
about the economy, which is people's top concern. They say that that's the biggest motivating issue. They've been saying that the Trump administration, frankly, is not focused on it enough. And instead he decided to say that everything's fine, it's basically all great, the stock market's doing great, jobs are doing well. And if there's one thing from a midterm standpoint, it's this. And it really didn't help his party's case on this because people have been saying that they think the president's policies have been to blame. And again, he stood by his tariffs, criticizing the Supreme Court, saying it was an unfortunate ruling, a little more polite than what he said online about them, but sticking by his tariffs, saying continuing to say he has the authority to do it, even though that's something that people have been saying is directly to blame for high prices.
