Yes!!!!
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#Trump set what he called “reciprocal” #tariffs on most countries in April 2025 to address #trade #deficits that he declared a “national emergency”. Those came after he imposed extra #duties on #Canada, #China & #Mexico, ostensibly to address a “drug trafficking” “emergency”.
A series of lawsuits followed, including a case from a dozen largely Democratic-leaning #states & others from small #businesses selling everything from plumbing supplies to educational toys to women’s cycling apparel.The challengers argued the “emergency powers” #law doesn’t even mention #tariffs & Trump’s use of it fails several legal tests, including one that doomed President Joe Biden’s $500 billion student loan forgiveness program.
The economic impact of Trump’s tariffs has been estimated at some $3 trillion over the next decade, acc/to the #CBO.
#law #economy #inflation #affordability #CostOfLiving #geopolitics #Trump #SCOTUS
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The challengers argued the “emergency powers” #law doesn’t even mention #tariffs & Trump’s use of it fails several legal tests, including one that doomed President Joe Biden’s $500 billion student loan forgiveness program.
The economic impact of Trump’s tariffs has been estimated at some $3 trillion over the next decade, acc/to the #CBO.
#law #economy #inflation #affordability #CostOfLiving #geopolitics #Trump #SCOTUS
#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS
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So, does he have to give all the money back?
Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand refunds.
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Yes!!!!
#SCOTUS rules that Trump’s sweeping “emergency” #tariffs are #illegal
The Supreme Court on Friday ruled that #Trump violated #federal #law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president’s foreign policy & economic agenda.
#law #economy #geopolitics
https://www.cnn.com/2026/02/20/politics/supreme-court-tariffs?cid=ios_app@Nonilex Along with Andrew this is good news day
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Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand refunds.
That's great but the companies preemptively passed the cost on to the customers... They've already covered their costs.
We're the ones who've been ripped off.
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@Nonilex Along with Andrew this is good news day
@Lizette603_23 @Nonilex wasn’t sure how stocks would react but so far are slightly up
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We wish
Want my $342 paid to DHL for the Chinese computer widget purchased last year.
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#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS
@Nonilex #Costco has a great refund policy of its own, & expects no less of #tRump & the #government a.k.a. “gubbermint”
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@Lizette603_23 @Nonilex wasn’t sure how stocks would react but so far are slightly up
@JonChevreau maybe they are beginning to see that THEY will be the ones who lose the MOST autonomy
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@Lizette603_23 @Nonilex wasn’t sure how stocks would react but so far are slightly up
@JonChevreau It'll bounce around for a while. Volatile times
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That's great but the companies preemptively passed the cost on to the customers... They've already covered their costs.
We're the ones who've been ripped off.
And the prices probably won't come back down.
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#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS
#SCOTUS’ decision was 6-3.
Justices #ClarenceThomas, Samuel #Alito & Brett #Kavanaugh dissented.
Writing for the majority, Chief Justice #JohnRoberts said the #statute does not authorize the president to impose #tariffs.“The president asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, & scope. In light of the breadth, history, & constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it.”
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So, does he have to give all the money back?
@mastodonmigration
Several big importers are suing for exactly that -
#SCOTUS’ decision was 6-3.
Justices #ClarenceThomas, Samuel #Alito & Brett #Kavanaugh dissented.
Writing for the majority, Chief Justice #JohnRoberts said the #statute does not authorize the president to impose #tariffs.“The president asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, & scope. In light of the breadth, history, & constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it.”
#Canada reacting exactly as we all should∶
“The Supreme Court’s decision to strike down the use of #IEEPA tariff powers is a legal ruling, not a reset of #US #trade policy. This is certainly not the last chapter of this never-ending story,” said Candace Laing, the president & chief exec of the Canadian Chamber of Commerce. “Canada should prepare for new, blunter mechanisms to be used to reassert trade pressure, potentially with broader & more disruptive effects.”
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Yes!!!!
#SCOTUS rules that Trump’s sweeping “emergency” #tariffs are #illegal
The Supreme Court on Friday ruled that #Trump violated #federal #law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president’s foreign policy & economic agenda.
#law #economy #geopolitics
https://www.cnn.com/2026/02/20/politics/supreme-court-tariffs?cid=ios_app -
#Canada reacting exactly as we all should∶
“The Supreme Court’s decision to strike down the use of #IEEPA tariff powers is a legal ruling, not a reset of #US #trade policy. This is certainly not the last chapter of this never-ending story,” said Candace Laing, the president & chief exec of the Canadian Chamber of Commerce. “Canada should prepare for new, blunter mechanisms to be used to reassert trade pressure, potentially with broader & more disruptive effects.”
#Trump has not yet commented on the ruling, but he was particularly animated about the case Thurs while delivering remarks in Georgia.
“I have to wait for this decision,” he whined. “I’ve been waiting forever. Forever. And the language is clear that I have the right to do it as president. I have the right to put #tariffs on for national security purposes.”
Trump also repeatedly said the word tariff was his favorite word in the dictionary
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