AND expensive!
Only 6 out of 25 countries had ONLY a 10% tariff before.
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It’s like Kavanaugh is just describing exactly what the Trump regime’s strategy has been all along. Do an illegal thing. Dare someone to sue them. Tie the case up in the courts for months on end. Appeal it all the way to the supreme court. The SC then sits on it for another few months. By the time any final decision comes down it’s too late to fix anything.
I guess if it’s too difficult, too time consuming, or too expensive to fix we should just let criminals get away with doing criminal things.
Me to Kavanaugh: “You are completely lacking in any sort of morality or legal ethics. How the hell did you even become a judge?”
Someone’s gotta go back and get a shitload of dimes.
He mentioned something about pennies today, and then said “But we don’t make 'em anymore”
Do you have a cite for this? Everything I’ve seen online says this is not accurate.
One example:
“Businesses may be reimbursed while still profiting from the price hikes, leaving consumers to bear the burden without a refund.”
Plus businesses raise prices all the time. Who’s to say whether it was due to tariffs or labor costs or…?
Would you believe Jeffrey Epstein?
Haven’t been researching this, but some “expert” on NPR said yesterday that as computerized as everything is, it really would not be a terribly monumental task to ascertain what companies paid what tariffs, and to give them credits. Of course, no discussion of impact on consumers…
Company board meeting:
“We just were successful in getting 20 billion dollars back from those tariffs we paid”
"Yippeee! Bonuses for the board and the CEO!
“But how will we refund the consumers who paid for the tariffs?”
Chorus: “ha ha ha ha ha ha ha ha!”
…and now it’s 15%
I’m reminded of Andrew Jackson replying (paraphrased) “The Supreme Court made its decision. Now let them enforce it.”
I meant a cite for
Bolding mine.
The tariffs get repaid to the tariff payer, regardless of whether they passed along the increased costs to their buyers/consumers. I can’t find anything that says otherwise.
That chart that DJT is pointing to is total bullshit. One example:
Take the European Union, for example. The chart lists its tariffs charged for U.S. imports (again, including currency manipulation or trade barriers) as 39%. Trump said the U.S. would charge countries half of what they are charging the U.S., because charging the full reciprocal amount “would have been tough for a lot of countries.” So in the case of the EU, the “USA Discounted Reciprocal Tariffs” is 20%, the chart states.
According to the World Trade Organization, the EU’s trade-weighted average tariff rate is 2.7%. Trump also noted that European countries charge a value-added tax of about 20% — it varies by country but that’s roughly accurate. But those taxes are levied on imports as well as domestic production, so the VAT does not provide any trade advantage. In any case, neither of those numbers factor into the White House’s math.
How does the White House arrive at 39%? In 2024, the U.S. goods trade deficit with the EU was $235.6 billion. That year, the U.S. imported $605.8 billion worth of goods from the EU. So, $235.6 divided by $605.8 is 38.9%, or, rounded up, 39%.
The center column has absolutely nothing to do with tariffs- it’s simply a ratio of trade deficit over total imports from any given country.
Yes, I recall this was pointed out at the time. Economists have a professional term for using math like this: “Complete bonkers batshit crazy.”
I still think the MSM dropped the ball on this one. Steve Kornacki could have presented a clear explanation on how this tariff chart was a complete lie- other networks should have as well. To this day, rank and file MAGA remembers that chart and think that the US is getting ripped off big time by other countries. And why oh why don’t reporters ask the Orange Walrus at every news conference: “You made a tariff of 50% on Country X. Who pays for it?” Or, “can you show us a single tariff payment that a foreign nation has made to the US?’
To see how MAGA world is reacting to reacting to the Supreme Court decision, I needed only to look at the comments on my local television stations’ FB posts:
That’s no big deal there’s other ways around it. I guarantee we’re still going to keep getting our tariff money from other countries which is fantastic
After Biden’s 21% inflation over 4 years, I’ll take the tariffs.
So the supreme Court supports a trade Imbalance
this the only way for manufacturing to come back to the US.
Think if tariffs pay for government to run successfully. No need to Tax citizens !!
I support fair tariffs no matter which democrat in congress is invested in China
I just listened to President Trump’s press conference. Tariffs will continue to be implemented in a different way. Very disappointing for the media and its anti American followers.
Or when do we have to give all the tariff money back to these countries and inflation goes up and everything goes up.
Communist sympathizer judges! Always wanting to destroy American manufacturing from the inside! This will be detrimental to the country. The tariffs were forcing manufacturing jobs back to America so we would be reliant on each other in this country. At the same time it makes it so we are not reliant on foreign countries who do not care about us. VERY STUPID MOVE BY THE JUDGE!!!
The Judicial Branch does not have Authority over the Executive Branch.D.Trump is Our Wartime President,He is in control,not these fake Non CONSTITUTIONAL JUDGES.Time to Wake up America.
his tariffs were aimed at the countries that have had huge tariffs against us for years. Trying to make it a more even playing field, and he is getting pushed back because it cuts into certain politicians profits
You only get part of the truth tariffs cost us money but they also generate way more revenue than they cost.
thank you for your support of slave labor in other countries and the destruction of manufacturing in the Rustbelt.
They don’t fucking get it any more than DJT himself.
The ignorance in those comments is just stupefying. Do these people have no intelligence whatsoever? Do they not listen to nor read any real news at all? I guess the answer is obvious.
I think my favorite comment is
That certainly aligns with what DJT and the current GOP believe. He’s the a King!
Remember how a long time ago I had a theory about Trump somehow personally making money off of tariffs? Well, this is only Trump-adjacent but I wouldn’t be at all surprised if he’s got a similar scheme in play:
TLDR version is that Lutnick’s sons are buying the rights to the refunds if the tariffs get struck down. So if you pay $10 million, they give you $2 million and pocket the $8 million refund. Is Trump smart enough to understand a scheme like this? Probably not but who knows.
Introduces a new interpretation to the expression ‘Sober as a judge’.
Could someone explain this to me as though I were a 10-year-old? How can someone buy the rights to someone else’s refunds?
From what I can tell…
The Lutnic company pays $2M of a companies $10M in tarrifs (by agreement, like insurance). IF tarrifs get refunded, Lutnic gets $10M. If they don’t get refunded, Lutnic gets $0 and company saved $2M.