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Trump administration 2024-2028

Mills Bomb said:
How embarrassing - so much for "Liberation day" as it seems like this photo didn't age well!

This was his signature policy and it was basically a massive disaster...

Equally embarrassing is all the countries that grovelled to get trade deals with a president who was essentially working outside the laws of his country that would ultimately be shutdown anyway. I can't imagine it looks good for them either in their countries?
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Certainly makes the hardball countries - us included look much stronger globally.
 
A good summary from JT ( no not Justin Trudeau) on what this ruling achieves for Canada. Not much, it turns out…


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In order for lawsuits related to tariffs to be successful, the businesses will have to show that they, and not their customers, bore the economic impact. If they simply passed on the costs to the consumer through price increases, but suffered no losses overall, their suits may not fly.
 
Haggis said:
In order for lawsuits related to tariffs to be successful, the businesses will have to show that they, and not their customers, bore the economic impact. If they simply passed on the costs to the consumer through price increases, but suffered no losses overall, their suits may not fly.
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Correct. Many have absorbed the costs.

I’m just watching Trump ramble on TV.

He’s gone waaay off the deep end.
 
Cloud Cover said:
Correct. Many have absorbed the costs.

I’m just watching Trump ramble on TV.

He’s gone waaay off the deep end.
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I'm watching him as well. Its hard to watch him. I try to be neutral listening to him and its just plan impossible as an educated person. He is all over the map, rambling, incoherent from time to time. If this was a family member talking at a family gathering, I would honestly have them checked out by a medical professional.
 
Brad Sallows said:
I can't imagine wanting to read a transcript of his remarks, let alone spend even more time watching them unfold verbally.
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It is hard to watch. It's like driving down the highway at 5km/hr going by a horrific car accident, you just cant stop yourself from staring at it.
 
MilEME09 said:
So more illegal tariffs? Doubling down is a bold move
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These are under some other ruling from the early 1960's that cover the other tariffs that were not covered by this ruling.

So if I'm Japan or Australia or the UK which already negotiated trade agreements all of a sudden have a 10% tariff against them. Australia, which has a rare trade deficit with the US just went from 10% to 20% in tariffs.

He has burned down the goodwill and trust of the US around the world.
 
Czech_pivo said:
These are under some other ruling from the early 1960's that cover the other tariffs that were not covered by this ruling.

So if I'm Japan or Australia or the UK which already negotiated trade agreements all of a sudden have a 10% tariff against them. Australia, which has a rare trade deficit with the US just went from 10% to 20% in tariffs.

He has burned down the goodwill and trust of the US around the world.
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TD released something today that included a brief breakdown of the avenues he might have. The just announced 10% that may or may not happen (or might not survive 150 days if struck down in court) are being used under section 122.

Section 122 also requires that extension or renewal after the 150 days needs to be done via congress.

In a mid-term year.

economics.td.com

U.S. Supreme Court Rules Against Broad-Based Country Specific Tariffs Under IEEPA

U.S. Supreme Court Rules Against Broad-Based Country Specific Tariffs Under IEEPA
economics.td.com economics.td.com

  • Section 122 tariffs, which allow for tariffs of up to 15% for 150 days to address large and persistent balance of payment deficits and/or defend the value of the dollar.
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In any case, so much for any trade deals certain countries made in the last year with the US.
 
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