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Trump's global tariffs struck down by US Supreme Court

bbc.com

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Re: Trump's global tariffs struck down by US Supreme Court

#171

Post by sjsdaiuasgdia »

mrbombastic wrote: post #96
edot wrote: post #40

Howard Lutnick and his sons are surely happy about this. It’s almost like Howard Lutnick, the Secretary of Commerce , knew this would happen. His sons, at their firm Cantor Fitzgerald, have been offering a tariff refund product wherein they pay companies who are struggling with paying tariffs 20-30% of a potential refund, and if (as they did today) they get struck down, they pocket the 100% refund. https://www.financ…

A witness also reported to the FBI that Lutnick and CF are engaged in massive fraud: https://www.justice.gov/epstein/files/DataSet%209/EFTA012492... Oh and he bought his house from Epstein for $10. Nothing to see here just a criminal admin fleecing you without even shame enough to try to hide it well.

And took his wife, kids, and their nannies to have lunch with Epstein. Years after he'd said he wouldn't associate with Epstein anymore, and years after Epstein's conviction.

If that was me, I would have used my substantial wealth to have lunch literally anywhere else in the world, with anyone else in the world.

Re: Trump's global tariffs struck down by US Supreme Court

#172

Post by saubeidl »

jonkoops wrote: post #166
saubeidl wrote: post #127

Earlier quoted context omitted.

We never actually ratified that deal. Parliament froze it when Trump started threatening Greenland.

Great! Then the next step would be to simply pull out.

Yup. EU institutional slowness working out in our favour once again heh.

Re: Trump's global tariffs struck down by US Supreme Court

#173

Post by eigenspace »

jonkoops wrote: post #100

I wonder what this means for the EU. We made a new deal under pressure of the tariffs that is actually worse than the deal we had. If we had not bent the knee, we would have had that original deal back, or at least, so it seems? Now we seem to be properly shafted due to weak politicians.

The deal more or less had 3 'bad' things in it:

1. The EU would face higher tariffs on their exports to the USA. Now mostly struck down

2. The EU would not retaliate with tariffs of its own. Not really a big deal since the only US export to the EU that's worth worrying about are digital services, and those aren't subject to tariffs anyways.

3. The EU promised to buy lots of LNG and make investments in the USA to the tune of hundreds of billions of dollars. This was a bald-faced lie on the part of the EU negotiators. Even if the EU wanted to actually do this, they have no power or mechanism to make member states and companies within those member states buy more LNG or make more investments in the USA. This was just an empty promise.

___

So if the tariffs are struck down, we're more or less back to where we started.

Re: Trump's global tariffs struck down by US Supreme Court

#176

Post by axus »

parineum wrote: post #142
dylan604 wrote: post #120

Earlier quoted context omitted.

Sure, but now SCOTUS can say they are not a rubber stamp for POTUS. "See, we just ruled against him. Sure, it's a case that doesn't really solve anything and only causes more chaos, but we disagreed with him. This one time."

> ...but we disagreed with him. This one time. They've actually done so numerous times already and have several cases on the docket that look to be leaning against him as well. There's a reason why most serious pundits saw this ruling coming a mile away, because SCOTUS has proven to not be a puppet of the administration.

Except for the 3 that dissented

Re: Trump's global tariffs struck down by US Supreme Court

#177

Post by JDEW »

furyofantares wrote: post #152
xnx wrote: post #57

Am I understanding this right? 1) US customer pays huge import tax on imported goods in the form of higher prices. 2) Seller sends the collected tax to the US government 3) US government will refund all/most of that tax back to the seller after this ruling 4) Seller gets to keep the returned tax money as pure profit (no refund to customer)

Why do we repeatedly say that tarrifs are passed off in full to the consumer in the form of higher prices? Isn't that as obviously wrong as the argument for them, that they're paid entirely by the other countries? Is there a reason to believe, or evidence, that it's not a mixture of the two? edit: I want to highlight esseph's reply has a link to evidence that last year's tarrifs were passed off 90% to consumers, whic…

> by the other countries

That makes zero sense. You mean “by lowering the profit margin on the goods sold to the US by that specific company”.

Countries don’t pay tarrifs (bar state intervention), companies do.

But yes, it’s probably a mix of the two: raising prices and lowering profit margins.

Re: Trump's global tariffs struck down by US Supreme Court

#178

Post by cogman10 »

csense wrote: post #151

I don't think tariffs should be imposed capriciously at the President's whim. But I do think tariffs are an appropriate policy tool that should be used to protect US companies against overseas competitors that get government subsidies or other unfair advantages: Low wages, safety regulations, worker protection, environmental rules, etc.

I agree with this assessment. And I think that the way it's setup in the constitution is correct, that congress needs to ultimately create the tariffs rather than the president. Creating tariffs unilaterally should almost never happen.

Re: Trump's global tariffs struck down by US Supreme Court

#179

Post by fuzzfactor »

coldpie wrote: post #153
taeric wrote: post #115

Earlier quoted context omitted.

Holy crap, you couldn't make a story that is a more direct echo of the plot point in Wonderful Life if you tried.

If whoever runs in 2028 does not have a concrete plan for investigating & prosecuting every single person who worked under this admin from top to bottom, they are wasting everyone's time. We need to see hundreds of life-in-prison sentences by the end of 2029.

The first thing on the agenda is to impeach & convict, if there were enough patriotic Americans in Congress it should be possible this afternoon.

Then they can take their time to reverse all immunity granted by this President so all snakes can be rooted out.

Re: Trump's global tariffs struck down by US Supreme Court

#180

Post by AnimalMuppet »

furyofantares wrote: post #152
xnx wrote: post #57

Am I understanding this right? 1) US customer pays huge import tax on imported goods in the form of higher prices. 2) Seller sends the collected tax to the US government 3) US government will refund all/most of that tax back to the seller after this ruling 4) Seller gets to keep the returned tax money as pure profit (no refund to customer)

Why do we repeatedly say that tarrifs are passed off in full to the consumer in the form of higher prices? Isn't that as obviously wrong as the argument for them, that they're paid entirely by the other countries? Is there a reason to believe, or evidence, that it's not a mixture of the two? edit: I want to highlight esseph's reply has a link to evidence that last year's tarrifs were passed off 90% to consumers, whic…

Well, the analysis by the Federal Reserve said that domestic entities (consumers and companies) paid 90% of it. So, yes, saying that consumers pay it all is wrong, but it's less wrong than saying that foreign countries pay it all.

I don't recall seeing a split between domestic consumers and domestic companies, but I'm fairly sure that consumers are paying more than the 10% that foreign entities are.

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