No one should be surprised at this quiet revelation….
It IS TYPICAL Donald….
He operates the SAME almost ALL the time….
Hit’m HARD‼️
Then negotiate from strength …..
It causes worry, anger and most of the time (Not Always) resignation from the recipient ….
With the Supreme’s to pass judgement on his tariffs, which ARE IMPORT Taxes ON the American Consumer…
Trump’s final plea is sure to include that his action where NOT so onerous ….
But they have wrung BILLIONS from consumers and businesses….
President Donald Trump promised that a wave of emergency tariffs on nearly every nation would restore “fair” trade and jump-start the economy.
Eight months later, half of U.S. imports are avoiding those tariffs.
“To all of the foreign presidents, prime ministers, kings, queens, ambassadors, and everyone else who will soon be calling to ask for exemptions from these tariffs,” Trump said in April when he rolled out global tariffs based on the United States’ trade deficits with other countries, “I say, terminate your own tariffs, drop your barriers, don’t manipulate your currencies.”
But in the time since the president gave that Rose Garden speech announcing the highest tariffs in a century, enormous holes have appeared. Carveouts for specific products, trade deals with major allies and conflicting import dutieshave let more than half of all imports escape his sweeping emergency tariffs.
Some $1.6 trillion in annual imports are subject to the tariffs, while at least $1.7 trillion are excluded, either because they are duty-free or subject to another tariff, according to a POLITICO analysis based on last year’s import data. The exemptions on thousands of goods could undercut Trump’s effort to protect American manufacturing, shrink the trade deficit and raise new revenue to fund his domestic agenda….
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In an interview with POLITICO on Monday, Trump said he was open to adding even more exemptions to tariffs. He downplayed the existing carveouts as “very small” and “not a big deal,” and said he plans to pair them with tariff increases elsewhere….
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For now, the emergency tariffs remain in place as the Supreme Court weighs whether Trump exceeded his authority in imposing them. In May, the U.S. Court of International Trade ruled that Trump’s use of emergency authority was unlawful — a decision the U.S. Court of Appeals upheld in August. During oral arguments on Nov. 5, several Supreme Court justices expressed skepticism that the emergency statute authorizes a president to levy tariffs, a power constitutionally assigned to Congress…..
By the Way?
Is Trump & Co. trying to steal money FROM possible refunds if the court cancels his act.?..
Is a Federal Judge going to have to step in?
The Trump administration is racing to deposit the money it’s raised from tariffs into the U.S. Treasury, a tactic that could make it harder for companies to get refunds for duties the Supreme Court may strike down in the coming months.
That has triggered a flurry of lawsuits in recent weeks, with companies ranging from wholesaler Costco to canned tuna seller Bumble Bee looking to preserve access to potential refunds for tens of billions of dollars worth of tariff fees. And it foreshadows the messy legal battles likely to play out if the high court rules President Donald Trump overstepped his legal authority when he imposed his steep “reciprocal” tariffs and other duties on major trading partners.
According to court filings and half a dozen people familiar with the cases, Trump’s Customs and Border Protection is denying requests to delay finalizing tariff payments and transferring the funds to the Treasury. In some cases, the agency is even fast-tracking that process, according to attorney Brett Johnson, a partner at the law firm Snell & Wilmer, who spoke Thursday during an advisory webinar for importers….
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The Trump administration’s strict schedule effectively allows it to “control the speed at which refunds are issued,” even if a court ultimately rules that companies are entitled to broad refunds, said Tony Gulotta, a principal and transaction tax practice leader at Ryan, a global tax services and consulting firm….
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