Refunds came after the supreme court ruled Trump overstepped his authority in enacting sweeping tariffs
US importers are expected to receive $85bn in tariff refunds after the supreme court struck down Donald Trump’s tariffs in February, according to US Customs and Border Protection (CBP), the agency that collects tariffs.
Importers and shippers have so far been refunded $20bn, according to court documents filed on Tuesday, with about $65bn more on the way.
After months of uncertainty and higher costs, American businesses largely welcomed the supreme court’s ruling that Trump overstepped his authority in enacting sweeping tariffs, including a baseline 10% tariff on all imports. It was the first time the highest court overruled Trump’s policies in his second term.
…to his buddies. This is all just a fucking enormous wealth redistribution operation.
I’m not kidding. There were a bunch of companies that set themselves up prior to the whole fucking tariff idiocy, and then after they kicked in, offered a comparatively modest percentage of the tariff as a deferral fee to slightly defer the immediate cost. And of course the offer was taken, because all corporate leadership these days focuses on q/q gains. And of course after the refunds are ordered by the Tribunal of Six? The fucking guys who the regime told to set up corps to scoop up those reimbursement rights. No shit, look it up. It’s all there. It’s not even hard to find.
Nah, fuck that. Give a source if it’s so easy to find.
Excellent!
Walmart said in an earnings call last week that it would probably put its tariff refunds toward lowering prices, pointing out that its lower-income customers were navigating increased financial distress.
yea, right. good one.
So, these businesses almost all passed the cost onto their customers, and are now going to be refunded for that? This government definitely doesn’t work for the American people.
Did it ever?
So we aren’t getting those tariff checks?
“With $65bn still owed” is more correct. We’ll see how much ever gets repaid.
