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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

#41

Post by techdmn »

edot wrote: post #16
nerdsniper wrote: post #11

Unfortunately, I suspect that many platforms/outlets which were paying tariffs for us will continue their high prices. I’d love to see my startups cost of hardware go down but I can’t plan on it happening in my CapEx projections.

Yep. Same exact trick that happened during COVID. Prices ratchet up but never down.

To me this suggests that the problem is not cost, but lack of competition, either in production or in pricing. My understanding is that there are sufficient laws to ensure competition, but they are not widely enforced.

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

#43

Post by mint5 »

Jamesbeam wrote: post #15

He 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 illegally from foreign countries” ????!!!

American citizens and American importers are not foreigner countries.

Don’t propagate or fall for trumps repeated blatant LIE that foreign countries pay tariffs.

They are direct taxes on Americans and American importers, the exporter does not pay it.

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

#45

Post by krapp »

rapnie wrote: post #44
fuoqi wrote: post #32

Let the fun of returning hundreds of billions of the illegal tariff revenue back to importers through litigation begin!

Trillions even, according to some sources.

Don't worry, DOGE saved us so much money it won't even matter /s.

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

#46

Post by megaman821 »

dayyan wrote: post #13

This ruling impacts tariffs imposed by way of the International Emergency Economic Powers Act, which includes the reciprocal tariffs announced on April 2’s so-called “Liberation Day.” Bloomberg Intelligence estimates that roughly $170 billion in tariff revenues have been generated through February 20 via these policies. However, this ruling has no bearing on section 232 tariffs, which have been used to justify levies…

It looks like there are several ways to reinstate these tarrifs at the Executive level https://www.cato.org/blog/supreme-court-got-it-right-ieepa-d...

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

#47

Post by [deleted] »

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…

[deleted]

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

#48

Post by franktankbank »

illithid0 wrote: post #19
franktankbank wrote: post #2

Can't say one way or another whether the power of the president was abused in this case but its a sad state for businesses who can't get started because of flip flopping policy. I'm for the tarrifs, its absolutely ridiculous to think only Wall Street matters.

The power to impose tariffs is given to Congress in the Constitution. Exceptions are allowed but in rare and specific situations. The fact that SCOTUS struck it down means the tariffs as imposed were unconstitutional. You can be for tariffs all you want, I'm not here to argue their efficacy. But you absolutely cannot with any intellectual honesty still be on the fence about whether he abused his power given this ruli…

It is flip flopping policy as far as it was here one day and struck down the next. That's what matters to people attempting to start something here. I should have stated I was not interested in arguing the actual rule process, you have 6-3 vote from the Supreme Court in your favor.

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

#49

Post by ajross »

dayyan wrote: post #13

This ruling impacts tariffs imposed by way of the International Emergency Economic Powers Act, which includes the reciprocal tariffs announced on April 2’s so-called “Liberation Day.” Bloomberg Intelligence estimates that roughly $170 billion in tariff revenues have been generated through February 20 via these policies. However, this ruling has no bearing on section 232 tariffs, which have been used to justify levies…

That's just bluster. The IEEPA nonsense was already the creative trickery deployed in defense of a novel and prima facia unconstitutional policy. If they had a better argument, they would have made it.

And we know in practice that Trump TACOs out rather than pick real fights with established powers. Markets don't like it when regulatory agencies go rogue vs. the rule of law. They'll just shift gears to something else.

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

#50

Post by sowbug »

fuoqi wrote: post #32

Let the fun of returning hundreds of billions of the illegal tariff revenue back to importers through litigation begin!

Will I get back the $17 DHL charged to collect the $1 tariff on the cat toys I bought from China?

Actual event may not have occurred, but DHL flat fee is real.

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