Trump's Tariff Plan B Faces Legal Hurdles as Global Economy Teeters

The Trump administration's latest attempt to impose tariffs on imported goods has been met with skepticism from trade experts, who say the plan lacks a legal basis. On Saturday, President Trump signed an order to impose new tariffs under Section 122 of the 1974 Trade Act, which allows tariffs of up to 15% for as long as 150 days to quickly address international payments problems.

However, economists and trade experts argue that the US does not have a balance-of-payments deficit, which is the prerequisite for invoking Section 122. "The good news is that there are methods, practices, statutes and authorities that allow the president to take action," Trump said in a briefing with reporters on Friday. However, experts say that the president's claim is not supported by the facts.

The Supreme Court's decision on Friday to strike down Trump's global tariffs has left a $133 billion question unanswered: what will happen to the money the government has already collected in import taxes now declared unlawful? Companies have been lining up for refunds, but the process is likely to be chaotic and may take years to resolve.

Meanwhile, the global economy is facing a complex web of trade disputes and energy politics. Hungary has announced that it will block a planned $106 billion European Union loan to Ukraine until Russian oil resumes flowing through a key pipeline that Moscow damaged. The move has been criticized by Ukraine, which accuses Hungary of "blackmailing" it.

In a separate development, the US military has successfully airlifted a small nuclear reactor from California to Utah, demonstrating the potential for quick deployment of nuclear power for military and civilian use. The reactor, which is about the size of a minivan, was transported on a C-17 military aircraft and is part of a broader effort by the Trump administration to promote nuclear energy.

The airlift is seen as a breakthrough for US efforts to fast-track commercial licensing for microreactors, which could help meet skyrocketing demand for power from artificial intelligence and data centers. However, the development has also raised concerns about the safety and environmental impact of nuclear energy.

On college campuses, students are struggling to cope with the pressure to succeed in a rapidly changing world. At Stanford University, 40% of undergraduates receive disability accommodations, a phenomenon that is becoming increasingly common across the US. The rise in disability diagnoses and requests for accommodations is seen as a symptom of a broader societal problem, as students struggle to cope with the demands of modern life.

As the global economy navigates these complex challenges, one thing is clear: the road ahead will be marked by uncertainty and disruption. The Trump administration's tariff plan, Hungary's blockade of the EU loan to Ukraine, and the US military's nuclear reactor airlift are all symptoms of a world in flux. As trade lawyers, economists, and energy experts weigh in on these developments, one thing is clear: the future of global trade and energy politics will be shaped by a complex interplay of factors.