What happens to the economy when the U.S. Supreme Court overturns a major Trump administration tariff strategy? On February 20, 2026, the U.S. Supreme Court struck down sweeping tariffs imposed under emergency authority, forcing a rapid policy shift and raising new questions about trade, markets, and the federal budget.

In this episode of Baker Briefing, Ambassador David Satterfield is joined by John Diamond, director of the Baker Institute Center for Tax and Budget Policy, to break down the economic impact of the ruling. They discuss whether tariffs delivered on promises to boost manufacturing and generate revenue, how their removal could affect deficits and inflation, and why uncertainty — more than any single policy — may shape the outlook for businesses and global markets. The conversation also examines what tariff tools remain available to the administration and what comes next for U.S. trade policy.

This conversation was recorded on February 23, 2026.

Featured:

• Ambassador David M. Satterfield
• John W. Diamond, Ph.D.

Mentioned in this episode:

• Learning Resources, Inc., et al. v. Trump, President of the United States, et al., U.S. Supreme Court, announced February 20, 2026. (chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.supremecourt.gov/opinions/25pdf/24-1287_4gcj.pdf)

This conversation was recorded on February 23, 2026.

You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

The Trump administration has touted its tariff strategy as a historic economic success, citing record stock market highs, falling trade deficits, and “virtually no inflation.” But what do the numbers actually show? In this episode of “Baker Briefing”, Ambassador David Satterfield sits down with John Diamond, Director of the Baker Institute’s Center for Tax and Budget Policy, to examine the data behind the claims. They break down who really pays for the tariffs, what’s driving GDP growth, and whether inflation has truly fallen. This conversation offers an objective assessment of how tariffs are reshaping the U.S. economy and who is ultimately better off as a result.

Featured:

• Ambassador David Satterfield: https://www.bakerinstitute.org/expert/david-m-satterfield
• John Diamond, Ph.D.: https://www.bakerinstitute.org/expert/john-w-diamond

Mentioned in this episode:

• “Donald J. Trump: My Tariffs Have Brought America Back,” Wall Street Journal.
• Two-Handed Economist Podcast, hosted by Dr. John Diamond: https://www.bakerinstitute.org/two-handed-economist-podcast

This conversation was recorded on February 10, 2026.

You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

John Diamond argues that the government shutdown has become an economic tax on ordinary Americans. Meanwhile, the Federal Reserve is heeding warning signals from the labor market as artificial intelligence and automation rewrite the rules for major industries, prompting companies like Amazon, UPS, and Intel to lay off thousands of workers.

In other news, President Donald Trump is busy signing trade deals in China and Southeast Asia. But the deals’ actual value depends on how long they’re sustained.

This episode was recorded on Oct. 29, 2025.

Follow John Diamond on X (@jw_diamond) and LinkedIn.

You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.