Looks like the tariffs will go away . There was just a ruling by the court 6-3 .
If Trump had gone through the proper channels to put the tariffs in place they could have been used to do what he said they were for. But because he did them the way he did, they are going away.
The tariffs were ruled to have been put in place illegally and would need congressional approval to have been done legally.
If they refund the tariff's to the importers, how would that work? Will retailers get some sort of refund from distributors? How about the retail buyers?
If nothing else, hopefully some of the many things that have been out of stock will start to trickle back in. And future prices should be able to come back down.
Should be interesting to see what happens next and how it impacts prices. And how any refunds will happen.
I would love to see more manufacturing come back to the US. But using the tariff's the way Trump has tried to use them would not work long-term without bipartisan agreements to keep them in place . It takes years to shift manufacturing. Many items are made 1 or 2 years before they end up in the hands of the end user. with components made even longer ago. Realistically it would take years to bring NEW manufacturing back.
Trump press conference on tariffs starting soon. https://www.youtube.com/watch?v=SLU-8jMAoNI
This decision must have already been priced into the stock market. I figured there would have been some wild moves
The Supreme Court issued an opinion. "Justice Brett Kavanaugh wrote the main dissent, which was joined by Justices Clarence Thomas and Samuel Alito. In his view, Trump had the authority under IEEPA to impose the tariffs because they “are a traditional and common tool to regulate importation.” Moreover, he suggested, although “I firmly disagree with the Court’s holding today, the decision might not substantially constrain a President’s ability to order tariffs going forward … because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs at issue in this case."
Interesting thing to put down in light of the fate of the Chevron Doctrine.
Good thing we have a business/trade savy president. This too shall pass, he has other tools in the box to use. Same result, different language. And that folks as what prevented Obama from not being a great president. Everyone Obama relied on came from academia. No real world experience.
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Yeah the result sucks
The President claims foreign influence is a reason the 6 justices voted the way they did. When pressed what foreign influence? Trump answered "you will find out soon"
One who seems not to understand who really pays a tariff.
He's great for reality TV and making drama.
His closing point of well now we have certainty in the markets. Well the only reason we had uncertainty was because of what he was doing. So in other words, we would have been better off if he never put tariffs on things illegally.
6-3 ruling against Trump from a right leaning court is a fairly robust rebuke. The dissent was basically 'meh the president can do what he wants'
2 of trump's appointees voted against him. If they were influenced by foreign governments then I guess he shouldn't have appointed people who are so easily compromised.
And two of the Judges were ones he appointed. Unfortunately I bet that finding out soon will translate into just another thing that was supposed to come out in two weeks that never happens.
One year anniversary coming up, maybe he'll tell us then lol
What a mess, i see class action lawsuit for refunds now. Will I get reimbursed for tarrif tax? Heck no. Will prices go down due to “tarrif “ relief? Heck no. The tax payers are the ones that are getting screwed on this ordeal.
Yah a big mess. I heard them say that the average household spent $1000 on Tariff's last year.
I don't see how it can be cleaned up in a 100% fair way. It will likely end up costing the government AKA Taxpayers , millions to refund and or litigate the requests for refunds on top of any refunds they give out .
I pasted the AI summary of what should happen. But AI is often wrong or incomplete so take it as more of a guide to what You might expect. Similar to a weather report. It is a screenshot so no links in it will work.
We get hosed again. That $'s gone. It was never for us.
Once again, I am stuck. Can't downvote, because it's true. Can't upvote, because it sucks.
Seems shady, same guy who wasn't at work at the twin towers on 9/11/2001 because he was dropping his kid off at school on a random Tuesday (something he never did) and was responsible for the insurance payout to the families of the dead for his company.
I wonder how much he made on the stock markets big dips and comebacks that were also a result of tariffs?
Seems pretty smart for a guy that forgot he took his entire family and 4 nannies to Epstein island.
I guess this is just what being a good business person looks like to MAGA ?
What a frigg’n mess!
What sucks too is the companies already spent a ton extra to import products so the pricing has already reflected that. The end customer is out of the money and prices will continue to stay high at least for a while as they burn through the inventory. I'd be shocked if anyone gets a penny back. Not to mention the vast amount of time and resources just figuring out the tariffs is totally lost by businesses.
Pit Row
So 6 voted they were NOT legal, and 3 including Bret Kavanaugh voted that it was legal.
It sounds like Trump can put a new 10% tariff in place for 150 days and then Congress has to vote to keep it or it goes away again. But all of the current tariff's have to go away or they are breaking the law and violating the constitution. EDITED to add that he put a 10% tariff on everybody and then raised it to 15%. So much for targeted use. Seems like doing it that way would go against the spirit of the law that allows him to put that tariff in place.
Tons of stuff costs more because of these tariffs. Look at some of the popular brands of MX helmets and boots. Look at the big jump in prices on stuff that has been around for years already. That is Tariff related right there.
And then You have a bunch of stuff that You can just not get right now because tariffs made it cost too much to make it profitable without a crazy increase in price that would make them cost so much that they are not going to sell.
I will tell you what, if you can NOT post anything on Vital for 2 full weeks I will give you $25
Annnd its started...social media screenshots from every corner of the internet.
What’s so interesting about it, Lawyearly?
Are you familiar with Loper Bright Enterprises v Raimondo calling into question how the Chevron Doctrine was used to give the executive branch wide interpretation of the law rather than going by the letter as written? Are you a lawyer?
Was going to post something. But decided the trumper idiots on here were not worth the time. Dumb fucks
Pretty much everybody expected this. Including the market, Congress and the Trump administration. As lame as they are it was pretty easy for even them to see that they overstepped the boundaries of IEEPA. I'm surprised it wasn't 9-0. The dipshit in chief will come up with another way to get us flip flopping through the next year or so and the congressional Republican cumbeards will accommodate him if given the chance. Credit to bobbym for the correct description of the Republicans.
Grow up.
I am familiar with Loper Bright Enterprises v. Raimondo as well as Chevron Deference. And yes, I am a licensed and currently practicing attorney.
So why is it interesting?
Yep. Get ready for tariffs 2.0 !!!
Can't imagine any American being against an economic boom, and deficit reduction.
But then look around, so many would rather see the complete collapse of our nation succumbing to foreign adversaries, than for president Trump so succeed at anything.
Fuck em, every last one of them.
Politicians.
Activists judges.
Internet dipshits.
All of them.
He gave they/them an hour or so to gloat.
Then he finished his lunch, came out gave a presser, and then went back to work for the American people.
Most Americans are impacted far more by how much things cost them on a daily basis than they are the nasdaq, and no matter how you slice it life was more expensive last year. The deficit also continues to get bigger every month. It has not decreased. Not accumulating as much debt this month as you did last month does not mean you are now in less debt.
The biggest increase in federal revenue this year over last is from income taxes, not tariffs. Congrats on that, I guess?
Tariff the shit out of everyone and it still won't fix our spending problem. Meanwhile Trump is funding a random guy as primary challenger to the only congressman who ever mentions any of this precisely because he doesn't rubber stamp trump's blank check.
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