Just under half of all goods that enter the United States are now subject to tariffs, a New York Times analysis of Census Bureau trade data shows, a stark sign of how President Trump has reshaped American trade since returning to office in January.
archive article: https://archive.ph/37EpC
Not really. Donald can say whatever he wants, but there’s no emergency.
And if there were an emergency, it’s not clear that would give him authority to impose tariffs.
Really need to put “Emergency” in quote marks on that one. The only emergency there is a president who doesn’t understand basic economics.
If the court rules against the president, it will nullify a major tool in Mr. Trump’s trade agenda. He has used the law under question, the International Emergency Economic Powers Act, or IEEPA, to impose tariffs on an estimated 29 percent of all U.S. imports, the Times analysis found. So far this year, these emergency tariffs have hit more than $300 billion in imported goods.
Not that I expect it to happen, but if they rule against him, what happens to the money the government has collected from illegal tariffs so far? Do they just keep it? Do they have to go through the books and return it to the importers? The costs were often absorbed by vendors at the start, but there’s no question a large fraction have already been passed on to consumers.
Am I reading this right that the SC could cancel only the “Emergency tariffs” part?
That’s the vast majority of tariffs he’s enacted.
Note that most of that 46% is likely Canadian goods that fall under CUSMA. Which means most of that, if not all, is also “emergency” tariffs.
Lol
Lmao
