A century-old toy company has taken down Trump’s Liberation Day tariffs with a self-funded lawsuit. But how?

Today’s guest is Rick Woldenberg, CEO of Learning Resources, creator of Spike the Fine Motor Hedgehog, and a successful Supreme Court plaintiff in Learning Resources, Inc. v. Trump. Co-hosting is Peter Harrell, who submitted an amicus brief on the tariff case that shook the world.

Our conversation covers:

• David v. Goliath — Why a mid-sized toy company sued when industry giants stayed silent, and what that says about incentives and courage in corporate America.

• The Existential Math — How tariff costs were set to jump from $2 million to $100 million, putting 500 jobs and a century-old family business at risk.

• Why Manufacturing Stays in China — The hard economics of toy production, supply-chain concentration, and why moving to Vietnam, India, or Mexico isn’t a simple fix.

• Rule of Law and Refunds — What it means to win at the Supreme Court, what should happen with the overcollected tariffs, and the constitutional guardrails around taxation.

• Legacy and Responsibility — Why taking a stand was necessary to protect this company’s mission.

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