Since tariffs apparently brought in about $200 billion I guess you can add another 0.66% to the 2025 deficit.
Trump's global tariffs struck down by US Supreme Court
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Re: Trump's global tariffs struck down by US Supreme Court
#242It's odd to me that something as fundamental as 'can the President unilaterally impose tariffs on any country he wants anytime he wants' is apparently so ill defined in law that 9 justices can't agree on it.
They all agree. A couple of them just chose to pretend they didn't.
Re: Trump's global tariffs struck down by US Supreme Court
#243Because of thw tariffs, it has not been possible to send small packages from Asia to the US. I wonder now how long it will take for service to be restored.
Re: Trump's global tariffs struck down by US Supreme Court
#244I 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.
Do you agree with countries doing the opposite to the US? When for example US tech is better than the local alternative but the countries create unfair advantages to the local alternatives?
Re: Trump's global tariffs struck down by US Supreme Court
#245Earlier quoted context omitted.
It's not a legitimate tax. That's why it taxed the economy much worse than a legitimate President would do.
maybe i lean too much in one direction, but what is a "legitimate tax"? Once again, count on hn for the downvotes. Yep, those shall not speak of downvotes, or taxation.
In this context it simply means "legal".
Re: Trump's global tariffs struck down by US Supreme Court
#246Earlier quoted context omitted.
It sure is interesting how different things might be if RBG and Biden had stepped down instead of doing... whatever it was they did instead.
It'd be interesting if Biden had taken the new doctrine of presidential immunity to heart in the last few months of his term.
A true hero would have done whatever it took to pack the SC and then resigned.
Re: Trump's global tariffs struck down by US Supreme Court
#247He better dusts off the good old auto pen. The man has a lot of cheques to write for the 175 billion he stole illegally from foreign countries.
"stole from foreign countries" is not how tariffs work.
You are not wrong. But you’re also not fully right.
I think you don’t see the full scale of the economic tail those tariffs had.
He raised tariffs illegally by 10% for most countries immediately, which triggered a bunch of negative economic effects around the globe in those countries directly tied to the illegal raise of those tariffs by who represents the United States of America.
Damages have to be paid to those countries and their companies.
Because those costs occurred from an illegal action. We do agree that if you do something the highest court has deemed illegal, if it caused damages to any party as direct result of that illegal action, the entity who suffered those damages should be entitled to claim damages, right?
A lot of companies had to deal with the same problems.
You can’t really plan exporting into a country that raises different amounts of tariffs basically over night depending on how his majesty, the king of the free world has slept the night before.
Someone needs to plan with the new realities, workers need to put in more hours, external expertise needs to be hired, all costs have to be evaluated, partners in the US might no longer be able to clear their inventory, new business terms need to be negotiated.
Don’t get me started about the Logistics troubles, but all of the above are costs which wouldn’t occur if the president had gotten legal advise from the Supreme Court about his economic plans before he did something illegal. Right?
So do you follow the law?
If yes, your conclusion needs to be that the president needs to write a lot of Cheques and probably needs the autopen. Because it weren’t only us importers and customers suffering from the presidents illegal action.
Re: Trump's global tariffs struck down by US Supreme Court
#248Howard 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…
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Oh, come on.
They spy on Congress (https://www.nbcnews.com/politics/congress/lawmakers-demand-d...).
They likely don't even need to spy on SCOTUS. They just have to chat with Ginni Thomas.
https://www.theguardian.com/us-news/2022/dec/30/ginni-thomas...
"The conservative activist Ginni Thomas has “no memory” of what she discussed with her husband, the supreme court justice Clarence Thomas, during the heat of the battle to overturn the 2020 presidential election, according to congressional testimony released on Friday."
"Thomas also claimed the justice was unaware of texts she exchanged with [White House Chief of Staff] Meadows and took a swipe at the committee for having “leaked them to the press while my husband was in a hospital bed fighting an infection”."
Re: Trump's global tariffs struck down by US Supreme Court
#249All of that pain for nothing. The Trump administration's signature policy achievements involve the DJT ticker and actual meme coins. I hope no republican sits in the oval office for 50 years, they're all responsible for enabling this madness and self-destruction.
Memecoins especially are so funny it's worth putting out some numbers: - $TRUMP meme coin, down 87% from ATH - $MELANIA meme coin, down 98% from ATH - $WLFI, down 50% from ATH, with 4 Trump co-founders The first two coins were actually hyped up so hard at launch that they drained liquidity from most of the crypto market because of people dumping everything to buy in
None of these were intended to be long term investments for anyone.
They exist as a way for money to be given to the Trump family in an legally obfuscated way. Most of that happens/happened right after launch.
Re: Trump's global tariffs struck down by US Supreme Court
#250Earlier quoted context omitted.
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>In 2021 the US had the its best opportunity to date to assemble a military tribunal to try and then execute a President It's completely foreign to the US or the Anglo-Saxon world in general. The military as the final guarantor of state security is a continental European thing (and removing this has been the goal of many army reforms in Europe since the end of WW2).
This is a nonsensical reform. Every check and balance is itself
a risk, nonetheless one can not build a safe Republic by removing
them.
The US thinks it is the check for Europe but this offers no check for the leader of a superpower such as the US.
(It's apparently a flaggable offense to believe a legitimate republic is measured by making sense even if making sense goes against Anglo Saxon sensibilities since Cromwell.. I guess we can call time of death on the city on a hill.)