Jon Decker with reactions to President Trump's State of the Union
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Transcript
7 segmentsJoining us now, our White House correspondent, John Decker. Good morning, John. Welcome in. Hey, good morning to you, JT. Thanks for having me on today. Always appreciate it. A pleasure, always. And you've been speaking with Trump's cabinet, having a little one-on-one time with a number of them. Let's start with the Treasury Secretary. How'd that go with Scott Bessent? Oh, well, a lot of news made in my interview with the Treasury Secretary, and I focused primarily JT on tariffs after the president's loss at the Supreme Court on Friday. The Treasury Secretary said it does not seem to be a priority right now in terms of those tariff rebate checks. And I think one of the reasons has to do with the fact that the U.S. Treasury is going to be taking in significantly less revenue as a result of the decision by the Supreme Court on Friday. It's not off the table entirely, but it doesn't seem to be a major priority. And then as far as refunds go for all those companies that paid those tariffs over the course of the past year, He did not sound optimistic that the administration is going to win all of that litigation. In fact, he described it as being corporate welfare, the fact that indeed companies may indeed get refunds for all of those tariffs, the billions of tariffs. that they paid over the course of the past year. Well, that'll be interesting to see because, you know, the president's going to try and maneuver back into the way he was doing business somehow, and he needs Congress to do it. And once again, as I mentioned before, and, you know, I think you agree that the justice has made the right decision based on the way it's supposed to go. You just got to do it the way it's supposed to go. We love what you're doing, but you've got to do it this way. You can't do it that way. So any word inside the ropes there in D.C. on how he's going to get this done. It relates to tariffs, there are other legal authorities that the President already is using. You know, he spoke right away about using Section 122 of the Trade Act of 1974 to impose 10% tariffs across the board. The President can do that. He's legally authorized to do that. But those tariffs can only remain in place for the next 150 days, the next five months. In addition to that, you know, when I spoke with the Treasury Secretary, I spoke about the new person. Kevin Warsh, the president, has nominated to be the next head of the Federal Reserve. And the Treasury Secretary believes that other Fed governors will follow his lead. They believe that interest rates should come down. And that is something that Kevin Warsh, once he's confirmed and takes on that position in May, they believe that he will. convince his fellow Fed governors to go along and lower interest rates through the remainder of this year. All right. John Decker, thank you for the update, buddy. I sure do appreciate you.