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    Tariff ruling is a “gift to the economy”

    The Supreme Court’s decision to overturn Trump’s reciprocal tariffs is a “gift to the economy” that will likely lead to lower overall tariff rates and a more orderly imposition of future clevies, said Heather Long, chief economist at Navy Federal Credit Union.

    “This will boost economic growth and provide some relief for American consumers,” she said. “Smaller firms will be especially helped by this ruling. They don’t have supply chain managers to help source their goods or lobby for exclusions, so tariffs have hit smaller firms especially hard.”

    Moving forward, it will be harder for the Trump administration to impose tariffs without clear justification and due process, Long added.

    However, the refund process will be a mess, she said. Small businesses may struggle to get money back from the U.S. Treasury and it’s likely the White House will fight against issuing any refunds at all, she noted.

    Per: CNBC

    Tariff ruling is a “gift to the economy”
    byu/SadOnion2110 instocks



    Posted by SadOnion2110

    7 Comments

    1. slowhandmo on

      I thought he already came out and said he’s imposing new ones using a different authority? He doesn’t handle losing well

    3. Urc0mp on

      Didn’t he just put a tarrif on through some other regulation? I don’t think we are doing too bad all things considered. The dow is over 50,000! /s We’ll probably be ok kicking his ass out at the end of his term as much as I want to impeach that turd.

    4. awana4 on

      The specific use of IEEPA was struck down. So IEEPA is basically off the table as a tariff tool (from my limited understanding).

      The current administration still has multiple policies they can use to enact tariffs. Section 232 of the Trade Expansion Act is still active, with tariffs on metals, auto/auto parts, and semiconductors. Section 301 of the Trade Act of 1974 is still active on China (initially from 2017/2018, I believe). The admin just used Section 122 of the Trade Act of 1974 for a new ‘temporary’ 10% global tariff.

      There is also Section 201 of the Trade Act of 1974, plus Section 338 of the Tariff Act of 1930 as options. There’s probably a ton of other random policies I’m not aware that can be used. I wouldn’t expect any boost in economic growth yet.

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