#Tag
But if a company didn’t charge #consumers more, would the government get to keep the now-invalidated tax? It’s an open question, & thousands of companies have filed lawsuits arguing they deserve #refunds. This could take years to litigate.
#law #Trump #SCOTUS #economy #inflation #affordability #CostOfLiving #tariffs #business #geopolitics
The #Trump #admin is expected to argue in court that companies lack standing to claim a refund if they passed the #tariff #costs to #consumers by charging more — which would be a hell of a thing considering Trump swore up & down that other countries were paying the #tariffs & that consumers wouldn’t be affected.
#law #SCOTUS #economy #inflation #affordability #CostOfLiving #business #geopolitics
But if a company didn’t charge #consumers more, would the government get to keep the now-invalidated tax? It’s an open question, & thousands of companies have filed lawsuits arguing they deserve #refunds. This could take years to litigate.
#law #Trump #SCOTUS #economy #inflation #affordability #CostOfLiving #tariffs #business #geopolitics
#CBP gave no reason why it was continuing to collect the #tariffs at ports of entry days after #SCOTUS’ ruling, & its message offered no information about possible #refunds for importers.
The message noted that the collection halt does not affect any other tariffs imposed by #Trump, including those under the Section 232 national security statute & the Section 301 unfair trade practices statute.
#CBP said in a message to shippers on its Cargo Systems Messaging Service (CSMS) that it will de-activate all #tariff codes associated with Trump's prior #IEEPA related orders as of Tuesday.
The IEEPA tariff collection halt coincides with Trump's imposition of a new, 15% global tariff under a different legal authority to replace the ones struck down by #SCOTUS on Friday.
#law #Trump #judiciary #economy #tariffs #trade #geopolitics
#CBP gave no reason why it was continuing to collect the #tariffs at ports of entry days after #SCOTUS’ ruling, & its message offered no information about possible #refunds for importers.
The message noted that the collection halt does not affect any other tariffs imposed by #Trump, including those under the Section 232 national security statute & the Section 301 unfair trade practices statute.
#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS
The challengers argued the “emergency powers” #law doesn’t even mention #tariffs & Trump’s use of it fails several legal tests, including one that doomed President Joe Biden’s $500 billion student loan forgiveness program.
The economic impact of Trump’s tariffs has been estimated at some $3 trillion over the next decade, acc/to the #CBO.
#law #economy #inflation #affordability #CostOfLiving #geopolitics #Trump #SCOTUS
#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS
