EU states won’t budge about these taxes.
So I assume Trump will keep trying to tariff other things and causing economic damage.
The EU has been far too accomodating to Trump because of the situation with Ukraine. Trump is exploiting this, but at a certain point he will have over-played his hand.
The EU has the ability to really hit back when it comes to US services exports, but that would definitely be a nuclear option.
No love between India and US for a while.
studies with obvious results
They have run down their inventories and/or they have absorbed losses as much as was economically possible (driven by political reasons). Now they have no choice but to raise prices, either by shrinkflation, enshitification, or just straight up price increases.
I’ve been wondering about that. Would that be just “I don’t want to piss off Trump” or would it be the more oblivious “he must know what he’s doing, let’s try to stick it out” or even the “I don’t want to admit that the liberals were completely right on this”?
Anyone ready for taco Tuesday?
There is one sector of population that is pro bankruptcy- the very wealthy.
When those farmers, home owners, and small businesses fold, the real assets simply change owners, thats what bankputcy is all about. The farmland doesn’t disappear. It just changes hands.
It goes to those that have the liquidity to buy it. Most often the creditor.
Turns out these tariffs are illegal.
ETA: Most Trump tariffs ruled illegal in blow to White House trade policy
I think if that sticks, the courts will have saved Trump from himself.
Leave the tariffs in and we’ve got inflation for the midterms. Being forced to reverse them avoids that while also giving Trump a chance to blame all economic problems on the courts.
“But they’re letting me do it my not telling me I can’t. Same as my parents when I was a kid and did not parent me in any way.”
Maybe they should have considered the legal aspects beforehand!
Earlier on Friday, Bloomberg reported that the administration, worried the court might invalidate the tariffs immediately, filed statements by Scott Bessent, the treasury secretary, Howard Lutnick, the commerce secretary, and Marco Rubio, the secretary of state, warning that such a decision would be a “dangerous diplomatic embarrassment” for the US.
You have your answer FA.
The panic has now officially started. Their entire nutjob economic policies are about to come crashing down.
Without the tariffs US debt service payments will spiral completely out of control.
So Trump will double down on his Fed machinations to bring rates down.
I saw elsewhere there were 4 dissents on the decision. I’m curious to see what the supreme Court does. I’m sure Thomas and Alito will allow them.
It’s probably academic in any case as Congress will introduce tariffs if Trump can’t?
The dissent was 2 judges appointed by Obama, and 2 appointed by Bush 43. The majority ruling was 1 Bush judge, 4 Obama judges, and 2 Biden judges.
Quite likely, but they won’t be flip flopping daily depending on the mood of Dear Leader.
I’m not sure. If it’s in Congress’s hands rather than Trump’s, then I’d think it’s more straightforward for other countries to target congressional districts in retaliation.
Perhaps one should investigate the legality of actions before giving out a bunch of tax cuts.
