Other tariffs will remain as-is -- most notably those imposed on a sector-specific basis, including on steel, aluminum, copper, and cars.

And the White House can, and likely will, pursue other unilateral options to impose additional tariffs. But this would be a setback.

If SCOTUS rules against the President, the administration will have to remove the tariffs and could have to refund, to importers, everything they have paid in duties since the tariffs took effect.

The vast majority of the tariffs we've seen the President impose so far this term are on the table here, including everything he's imposed on a country-specific basis: versus China, Mexico, Canada, the EU, Brazil, India, and 60+ other trading partners.

I don't believe we'd heard the administration say this before. Sounds technical, but it's interesting: It means that even under a rosy scenario with China—say, the two sides strike some sort of near-term deal—the bulk of tariffs added so far this term are likely to stay in place.

4. I asked if the official had a message for Wall Street worried about political interference in and reliability of federal statistics.

The official said they will get someone in position who is competent, can do the job and won’t embarrass themselves, as they believe the previous commissioner did.

3. The White House believes this move is within the President’s authority, “100%.”

Asked if they were prepared for a legal challenge, the official replied they were “prepared for anything.”

2. The official conceded that yes, revisions to the data are normal. But the White House says this is about the scale in which revisions had to be made during McEntarfer’s tenure.

They described today’s downward revisions as “pretty significant.”