A federal court has struck down global tariffs imposed by Donald Trump, a ruling following a stinging Supreme Court loss.
The Court of International Trade in New York, with a split three-judge panel, found the 10% global tariffs illegal after small businesses sued. The 2-1 decision stated Trump overstepped congressional tariff authority, deeming the tariffs “invalid” and “unauthorized by law.”
At issue are temporary 10% worldwide tariffs the Trump administration imposed after the Supreme Court in February struck down even broader double-digit tariffs the president had imposed last year on almost every country on Earth. The new tariffs, invoked under Section 122 of the Trade Act of 1974, were set to expire July 24.
I will say this — given Trump’s tax cuts to the wealthy coupled with attempts to increase taxation on the poor via tariffs, coupled with the tax revenue from tariffs being overturned as illegal and needing to be paid back, the increase in national debt is going to be substantial during this term. Assuming that the Trump administration is probably going to kick the can down the road on paying for this and the next administration has to crank up taxes, I really hope that the Democrats do not let the Republicans pin blame for said increases on them.
They will. They always do, and somehow it always fucking works.
Because the populace votes IRS current emotional state and not what they remember from before
And that’s with national debt already exceeding GDP, which is already a janky measure.
