Congress, the Balance of Payments, and Tariff Reform

In the wake of the February 2026 Supreme Court ruling on the legality of the International Emergency Economic Powers Act (IEEPA) tariffs, the Trump administration has used alternative authorities to reimpose tariffs, including a 10 percent global tariff under Section 122 of the Trade Act of 1974.As written, Section 122 allows the president to impose a temporary import tariff of up to 15 percent to: (1) deal with large and serious US balance of payments deficits, (2) prevent an imminent and significant depreciation of the dollar in foreign exchange markets, or (3) cooperate with other countries in correcting an international balance-of-payment disequilibrium. Many experts have questioned, however, whether any of these conditions apply today and thus whether the administration’s new tariffs are, like the IEEPA levies, unlawful.This policy forum will feature a fireside chat with Representative Jimmy Panetta (D‑CA) and the Cato Institute’s Clark Packard on Section 122 and congressional tariff authorities, followed by an expert panel discussion on the legality of Section 122, whether its conditions exist today, and the role of Congress in reforming executive branch tariff authority. Hosted on Acast. See acast.com/privacy for more information.

The universal human drive to matter—to feel our lives hold genuine significance—fuels both our greatest achievements and our deepest divisions. It inspires innovation, care, and cooperation while giving rise to ideological extremism, tribalism, and zero-sum conflicts that can challenge individual liberty and peaceful coexistence.MacArthur Fellow and National Humanities Medalist Rebecca Newberger Goldstein joins us to discuss her latest book, The Mattering Instinct: How Our Deepest Longing Drives Us and Divides Us. Through real-life stories of individuals pursuing meaning—from artists and thinkers to everyday heroes and reformed extremists—Goldstein illustrates how the uniquely human need for meaning inspires “mattering projects” that drive both progress and polarization.Cato research fellow and psychologist Adam Omary will moderate the discussion and offer commentary on the book’s implications for addressing the contemporary crisis of meaning, defending civil liberties, and advancing human progress. Hosted on Acast. See acast.com/privacy for more information.

In June 2025, when stepping into the Federal Reserve Board’s role of vice chair for supervision, Michelle W. Bowman announced a comprehensive review of the bank capital framework. Since that time, she has introduced changes to two of the framework’s four pillars, the supplementary leverage ratio and the stress-testing regime. As a next step in the comprehensive review, the Federal Reserve, together with the other federal bank regulatory agencies, will introduce proposed changes to the risk-based bank capital requirements.Join Vice Chair for Supervision Bowman at the Cato Institute as she details her comprehensive review and what is next for bank capital requirements and Basel III. Hosted on Acast. See acast.com/privacy for more information.

President Trump has launched a war with Iran, leaving the American public with more questions than answers. Great uncertainty remains around the war’s strategic objectives, the duration of the campaign, and its long-term impacts on the United States, Iran, and the Middle East. Join us for a conversation with leading experts who will examine the possible trajectories of Operation Epic Fury and its broader consequences for the region and beyond. Hosted on Acast. See acast.com/privacy for more information.

As we celebrate the 250th anniversary of the Declaration of Independence, many of us think about the heroic figures who formed the foundation of our democracy. The Prohuman Foundation and Sphere Education Initiatives are excited to support you in thinking about these brave Americans by highlighting five unsung heroines who greatly influenced America’s Founding: Elizabeth Freeman, Anna Smith Strong, Nanyehi (Nancy Ward), Deborah Sampson, and Esther de Berdt Reed. During this webinar, we will dive deep into five lessons that encourage students to discover character strengths such as curiosity, courage, humanity, grit, and compassion while developing key skills in literacy and civil discourse. You will hear from the Prohuman Foundation and Sphere about the various ways to engage with these women’s stories in helping your students learn to recognize their own capacities for developing character strengths in their own lives.The webinar will consist of two parts. The first part will include a conversation between the Prohuman Foundation and Sphere to set the stage for understanding the unique opportunities presented by this collaborative effort. The second part will include deeper dives into the lessons themselves and the practical, tangible tools that can be applied in secondary classrooms. Educators will be empowered to use these resources to help their students develop a growth mindset, cultivate positive connections, engage in civil discourse, and respect viewpoint diversity. Hosted on Acast. See acast.com/privacy for more information.

Thirty years ago, as part of the 1996 Telecommunications Act, Section 230 became law. The law was the result of a bipartisan effort that saw the potential of the internet and sought to encourage innovation and opportunities for online speech. Thirty years later, the law remains crucial to users and innovators of all sizes; however, it has been criticized by both the left and the right.Join us for a day featuring panels on the history of Section 230, the current impact, debates, and legal challenges around the law, and how it might interact with future content moderation strategies including decentralization and technologies such as artificial intelligence. The event will also feature a live virtual conversation with one of Section 230’s co-authors, Senator Ron Wyden (D‑OR). Hosted on Acast. See acast.com/privacy for more information.

Thirty years ago, as part of the 1996 Telecommunications Act, Section 230 became law. The law was the result of a bipartisan effort that saw the potential of the internet and sought to encourage innovation and opportunities for online speech. Thirty years later, the law remains crucial to users and innovators of all sizes; however, it has been criticized by both the left and the right.Join us for a day featuring panels on the history of Section 230, the current impact, debates, and legal challenges around the law, and how it might interact with future content moderation strategies including decentralization and technologies such as artificial intelligence. The event will also feature a live virtual conversation with one of Section 230’s co-authors, Senator Ron Wyden (D‑OR). Hosted on Acast. See acast.com/privacy for more information.

Thirty years ago, as part of the 1996 Telecommunications Act, Section 230 became law. The law was the result of a bipartisan effort that saw the potential of the internet and sought to encourage innovation and opportunities for online speech. Thirty years later, the law remains crucial to users and innovators of all sizes; however, it has been criticized by both the left and the right.Join us for a day featuring panels on the history of Section 230, the current impact, debates, and legal challenges around the law, and how it might interact with future content moderation strategies including decentralization and technologies such as artificial intelligence. The event will also feature a live virtual conversation with one of Section 230’s co-authors, Senator Ron Wyden (D‑OR). Hosted on Acast. See acast.com/privacy for more information.

Thirty years ago, as part of the 1996 Telecommunications Act, Section 230 became law. The law was the result of a bipartisan effort that saw the potential of the internet and sought to encourage innovation and opportunities for online speech. Thirty years later, the law remains crucial to users and innovators of all sizes; however, it has been criticized by both the left and the right.Join us for a day featuring panels on the history of Section 230, the current impact, debates, and legal challenges around the law, and how it might interact with future content moderation strategies including decentralization and technologies such as artificial intelligence. The event will also feature a live virtual conversation with one of Section 230’s co-authors, Senator Ron Wyden (D‑OR). Hosted on Acast. See acast.com/privacy for more information.

The debate about US policy toward China hinges on rarely stated judgments about the nature of the challenge. Is China mainly a revisionist or a status quo state? Should the United States keep all its international commitments amid China’s rise? What military posture can best defend those commitments? In his latest book, Retrench, Defend, Compete, Charles Glaser assesses these first-order questions and promotes an alternative US strategy toward China that would retrench from some US commitments in Asia and bolster others. Please join us as Glaser and Patricia Kim discuss the book and grapple with the range of US choices, from grand strategic judgments to specific foreign and military policies. Hosted on Acast. See acast.com/privacy for more information.