Gary Kasrav is a Russian dissident, exile and chess grandmaster. He has seen authoritarianism with his own eyes. And this week, he wrote this in his Substack newsletter, The Next Move.As demagogues go, Donald Trump is not especially original. A tragedy occurs, the leader starts pointing fingers and blames the other guy as a pretext for overreach. It's so formulaic that no TV show with this plot would ever have made it near near this past weekend's Emmys.Kasprov warned that we should understand this for what ...

Legal & Regulatory Landscape - A federal appeals court ruled President Trump overstepped his authority imposing tariffs [1] - The court decision favors the argument that tariff decisions belong to Congress, not the President [2] - The administration has until October 14th to decide whether to appeal to the Supreme Court or go to Congress [18] - The Supreme Court previously ruled that Congress must affirmatively authorize rules, referencing the 1950 steel mill seizure case [7][8] Potential Business Impact - Businesses are in a difficult position, needing clarity on tariff rules for long-term planning [13][15] - Some businesses are considering manufacturing in the US due to the tariffs, while others are waiting for the situation to resolve [13][14] - The legality of tariffs collected is questioned, with potential for refund actions if the ruling stands [10][11] Presidential Powers & Limitations - The President has limited power to impose a 15% temporary tariff for 150 days under Section 122 of the Trade Act [17] - The tariffs imposed exceeded the President's power by being up to 50% or even 150% and indefinite [17]