The majority of the sweeping tariffs Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds.
That potentially dramatic turn in the tariff saga comes after a federal appeals court ruled on Friday that Trump unlawfully leaned on the International Emergency Economic Powers Act (IEEPA) to impose across-the-board duties on countries.
Trump had used those powers to push import tax rates as high as 50% on India and Brazil – and as high as 145% on China earlier this year.
The money will go back to American businesses, which means American consumers. That means that’s more proof that Americans are paying for the tariffs.
Not a single cent will go to American consumers. If the American companies win this lawsuit (and don’t get me wrong, they should), they will keep the money and will not lower their prices even after the tariffs are removed.
Oh for sure, I’m just saying that the money going back to American businesses proves that this isn’t hurting foreign companies and we’re paying for the tariffs.
Oh yes, of course.