Supreme Court strikes down Trump's global tariffs. Looks like some business are entitled to some hefty refunds.

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Well, it did work in making the world more connected. Now everyone knows better than partnering with the US instead of diversifying trade.

likesmartfunny

Yes global supply chains have already reoriented around us and new partnerships that exclude us are set. The damage is done.

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By leaving the question of refunds open, the Supreme Court has ensured the pain of these illegal tariffs will linger. The money will stay locked up in litigation for years now and the importers who will eventually get their money back have no immediate reason or public pressure to provide discounts or lower prices to consumers.

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Cool, so now we are all stuck with companies that managed to raise prices, they get a refund, and their bottom line foes down. #WINNING

likefunny

Yup! You’ve shown them that your willingness to pay is higher then they thought

I think that part will continue to get litigated in courts. SCOTUS didn’t say anything about refunds.

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C1 most companies impacted have already had lawsuits pending for months. Those will go forward and they are able to do so because of the scotus ruling today.

funny

He says he already spent it 🤷‍♀️

likefunny

At least with the tariffs they did collect, this administration brought down the debt... right...? right...?

funnylike

Down? This administration doesn’t bring things down. Only up! Inflation Up!, unemployment numbers Up!, Global instability Up!, Protecting pedophiles at the expense of their victims Up!

I’ve been told for a year now prices have gone up for the consumer because of tariffs, so I should surely expect prices to go down now

funny

Drug prices are down 180000%. I went to the market to pick up some Advil and the store bought me a Lamborghini!

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Suppose even this Supreme Court has their limits on blatantly unconstitutional behavior lol

likefunny

Not Thomas or Alito though

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What about the reciprocative tariffs US businesses are paying to other countries as a result? 🤔

helpful

Annnnddd Trump just announced more tariffs and that the ones in place will stay. Openly defying the Supreme Court.

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Not quite, the Section 122 tariffs max out at 10% and have a shelf life of 150 days without Congressional action. Plus, with this Supreme Court ruling in hand, a preliminary injunction by the Court of International Trade against any further blanket tariffs just got a whole lot more likely.

The other authority he said he would use require months of investigations first and would have to be sectoral and proportionate. They'll never be the cudgel he tried to use IEEPA to be.

I think refunds are unlikely, especially because the tariffs were largely passed on to consumers.

K1 he’s going to use this to make an attempt to make it seem like it was his idea all along because everything else has failed. He’s going to say “see I told you all you’d get tariff checks” as if this was the plan all along.

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