Ron Insana on SCOTUS Striking Down Trump Tariffs: ‘Nothing Dramatic Is Going to Happen’

EXCERPT:

INSANA: "You know, these hyperbolic statements are by no means in any way helpful. I mean, if this were a life-or-death situation, the U.S. would have died between the 1970s and the 1990s because we’ve been running trade deficits throughout that entire period through today. And as you just stated earlier, Ana, you know, we had the largest trade deficit in goods ever in 2025. So, no, this is not a life-or-death situation for the United States. Again, the benefit might be that some companies get refunded their money that they paid into the Customs Department as a result of the IEEPA tariffs, but it doesn’t leave us in a better position from a trading perspective because of the distrust and mistrust that Ravi was discussing among our trading partners. Will they, you know, abandon some of these framework trade agreements that were reached when the IEEPA tariffs were used as that cudgel? That remains to be seen. Will they walk away from trade deals with the United States that were put in place? And again, will they rush into the arms of others? Americans, consumers, you know, from what we can tell, economy is still growing about 2%, inflation is still about 3%. Nothing dramatic is going to happen. And certainly this is not an existential crisis for the United States if the tariffs are removed."