In a 6-3 decision, the supremes ruled that Trump needed congressional authorization to raise tariffs.
(https://thehill.com/homenews/administration/5746060-live-updates-trump-supreme-court-governors/)
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So much for a Lame Duck and a “Stacked Court”.
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[ I posted this as economic news, not political. I’m hoping that all replies will reflect this ]
It is important to most members of this forum because it means that inventory costs will go down. However, if volume of trade goes up, the cost of a container may go up.
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It will be interesting to see WHEN and IF those who paid the tariffs will get their money back. Is the money still available to complete the pay back?
The promise of the bonus tariff refund check is dead in the water (not that anyone really expected it).
Does anyone know if this reverses the de minimis rule back to the way it was or does that escape the ruling?
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Of course, EVERYTHING is always in the fine print. They closed a door but the windows are all still open – “Yet the Supreme Court’s decision does not mean that Trump is now entirely unable to slap tariffs on other countries’ products. The president, for example, has at his disposal Section 232 of the Trade Expansion Act of 1962, the same tool he used to impose import taxes on steel, aluminum, lumber and furniture, and his sector-based tariffs were not getting addressed in the Supreme Court case. There is also Section 301 of the Trade Act of 1974, used during Trump’s first term to put tariffs on Chinese goods.”
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The total is about 130 billion USD. So availability is a big question.
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The money is always available. The U.S. Mint has a printing press.
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Exactly! And I’m also thinking about the businesses who laid off staff, found (and paid already) more expensive suppliers, or even closed in the past year because the tariffs rendered their business unsustainable.
How do they come back from this?
How do businesses rebuild trust with their customers?
How do all the cascading pieces of collateral damage in local economies recover?
The costs associated with these unconstitutional tariffs have been much more than just what was paid.
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Well that time passed and haven’t seen any reporting on it yet …
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I’m watching the president’s reply live, and he explicitly says that he will continue the tariffs by other means.
He says that he will be signing TODAY other orders to raise tariffs by other means.
He said that he will - under Section 122 - impose an across-the-board global 10 percent tariff.
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He took the stage after 1pm. And then took questions well past 2p (I stopped watching)
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There are other measures by which the tariffs can be instituted and then it will be a court battle again.
https://www.youtube.com/live/sk92I05FU9I - he hasn’t said anything of note besides what he typically does - fantastical pronouncements (delusional ranting), but he is saying there are other measures and statutes he can use…“…we have alternatives…” - 01:11:43
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He’s adding another 10% under section 122 but those tariffs are temporary (150 days) unless Congress agrees to extend it. He signed the executive order so it takes effect in 3 days Yes this is on top of existing tariffs.
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Basically no price drop from suppliers for another 6 months. SMH
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Same thing different loophole, I expected nothing less honestly.
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Here are All Tariffs per Bloomberg as of today Feb 20 (actually in 3 Days as this is when Trumps new Section 122 - 10% world tariff goes into effect.)
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I want to live in a world where “Threatened” doesn’t need to be a category in Govt issues
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