One of the most effective tools Trump has used in negotiating with foreign powers--including returning jobs to the U.S.--has been the imposition of tariffs. But, as NBC reports, "Supreme Court strikes down most of Trump's tariffs in a major blow to the president." The ruling only struck down the tariffs imposed by Trump pursuant to the International Emergency Economic Powers Act (IEEPA), with the majority holding that the IEEPA did not grant the power to impose tariffs. However, tariffs under other laws have been allowed to stand. Of course, now everyone that paid the tariffs wants their money back and who knows how that is going to impact the treasury. There are, however, plenty of other statutes under which the President could impose tariffs.
It's going to be interesting (puts popcorn on the list).
ReplyDeleteThat the Democrats, who normally are never opposed to taxes, were opposed to us is proof that the tariffs were good for America.
Delete