By coinnews 
00:00 Speaker A
I also think this earnings season and next earning season is really important because we have to hear from CEOs how they’re responding to all of this uncertainty. My guess is the first step is is freeze. You’re, you know, you slow down hiring, you slow down investing until the coast is clearer. But the shoe that I worry that’s going to drop next is if they see consumer spending, if they see a hit to demand, do they start laying off workers and then we get the dynamics of recession.
00:40 Speaker B
And those businesses, by the way, just to mention some news here, small businesses now suing to block these tariffs as well. So I’m curious from your perspective, Monica, where does that leave small businesses from here and are they going to have any success because they don’t have the power that a Walmart has to negotiate with this administration on supply chains?
01:05 Monica
If you get a big enough, you know, mass, right? And people come together in a single lawsuit, that could change the dynamic, right? You get more power there. Not just, you don’t just have to be a Walmart, right? There’s many ways to get legal action through the system. What’s important there is that they’re challenging the way that these tariffs have been implemented. Now, since the 70s, really aggressively Congress has turned over the keys on presidential powers with tariffs. It’s the question is are these illegal? Do they actually fall under the different codes in the, you know, in the actual tariff code like Section 232 or others, and can they actually move the needle? So we don’t have the answer on that yet, but there seems to be some cracks in the in the administration’s argument, otherwise these small businesses wouldn’t have had a case, right? So I do think that this is going to be really interesting, really dynamic. Doesn’t mean they’re going to win, but it is going to shine the light on the possibility that maybe the tariffs aren’t explicitly line itemed in the way that they should be.