signalmankenneth
Verified User
I'll be keep my fingers cross that the supreme court rules against Trump?!! If this happen the federal government will have to reimburse all those
businesses that paid for Trump's tariffs?!!
President Trump's most sweeping tariffs face a landmark test of presidential powers, as the US Supreme Court is set to rule on the implications and legality of Trump's global duties on trade partners.
The high court's first opportunity to issue a verdict came and went last week. The court indicated its next opinion day would come Wednesday, Jan. 14.
Whatever the decision, the case is being closely watched, as companies like Costco (COST) bring lawsuits against the US government in the hope of securing a refund on import duties if the court rejects Trump's authority to impose tariffs.
The court heard arguments in early November. Both conservative- and liberal-leaning justices asked skeptical questions of the method by which the president imposed his most sweeping duties. Trump imposed his tariffs by invoking a 1977 law meant for national emergencies.
The Trump administration also made appeals to the court last year, and in recent weeks Trump has frequently expressed concern over the ruling, saying losing the ability to tariff other countries would be a "terrible blow" to the US. On Monday, he went even further.
"If the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!" he wrote on social media.
US Treasury Secretary Scott Bessent said in an interview that if the high court rules against Trump's tariffs — which he still views as unlikely — the US Treasury has more than enough funds to cover the costs of any refunds. But Bessent said he thinks businesses won't be passing those refunds back to consumers.
"It won't be a problem if we have to do it, but I can tell you that if it happens — which I don't think it's going to — it's just a corporate boondoggle," Bessent told Reuters. "Costco, who's suing the US government, are they going to give the money back to their clients?"
https://www.yahoo.com/finance/news/live/trump-tariffs-live-updates-trump-says-were-screwed-if-supreme-court-rules-against-his-tariffs-152657650.html
If Trump does get screwed, may I suggest some:
businesses that paid for Trump's tariffs?!!
President Trump's most sweeping tariffs face a landmark test of presidential powers, as the US Supreme Court is set to rule on the implications and legality of Trump's global duties on trade partners.
The high court's first opportunity to issue a verdict came and went last week. The court indicated its next opinion day would come Wednesday, Jan. 14.
Whatever the decision, the case is being closely watched, as companies like Costco (COST) bring lawsuits against the US government in the hope of securing a refund on import duties if the court rejects Trump's authority to impose tariffs.
The court heard arguments in early November. Both conservative- and liberal-leaning justices asked skeptical questions of the method by which the president imposed his most sweeping duties. Trump imposed his tariffs by invoking a 1977 law meant for national emergencies.
The Trump administration also made appeals to the court last year, and in recent weeks Trump has frequently expressed concern over the ruling, saying losing the ability to tariff other countries would be a "terrible blow" to the US. On Monday, he went even further.
"If the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!" he wrote on social media.
US Treasury Secretary Scott Bessent said in an interview that if the high court rules against Trump's tariffs — which he still views as unlikely — the US Treasury has more than enough funds to cover the costs of any refunds. But Bessent said he thinks businesses won't be passing those refunds back to consumers.
"It won't be a problem if we have to do it, but I can tell you that if it happens — which I don't think it's going to — it's just a corporate boondoggle," Bessent told Reuters. "Costco, who's suing the US government, are they going to give the money back to their clients?"
https://www.yahoo.com/finance/news/live/trump-tariffs-live-updates-trump-says-were-screwed-if-supreme-court-rules-against-his-tariffs-152657650.html
If Trump does get screwed, may I suggest some: