Now the Supreme Court of USA has declared that emergency law does not authorize duties meaning tariffs. It is reported that the USA now has to refund about US$179 billion already collected. It never rains but pours for Trump. All his gloating about how much he has collected goes up in flames.
Has Trump already paid the subsidies to the farmers and others that he gloated about paying from those tariffs collected and has now probably to be clawed back. I do not think the farmers are going to pay back the subsidies, anyway, preferring to declare bankrupt. After all, the future looks uncertain for them without the Chinese market, which is gone for good. The bag will still land on taxpayer's lap, a double whammy, paying for the tariffs when they shop and now landed
And what about the lies to be walked back by prolific liar and Trump's sidekick, Howard Lutnik, about the lucrative tariffs of hundreds of billions to be collected going forward? He had been counting his chickens too early before they are hatched.
Anonymous
1 comment:
I think the whole world now has to decide whether to decouple from the USA, as the tariff mess is making trade with the USA uncertain, unsustainable and changeable like the weather. Everything is dictated by the whims and fancies of one man, who does not understand how world trade works. His actions depends on what he dreamt of at night and which side of the bed he wakes up from.
A year of uncertainty already created chaos, and changing the tariff numbers against everybody from 10% to 15% does nothing to instill confidence in countries trying to trade with the USA. Better be trading with certainty than trying to please the USA with Trump moving the goalpost as he likes, despite the USA Supreme Court's decision against his tariffs. If Trump acts like this for the duration of his term, nobody is going to believe the USA's Judicial System is working. The USA is morphing into a lawless terrorist state.
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