The US Supreme Court will not issue a ruling on Friday (January 9), in a high-profile case challenging the legality of President Donald Trump’s sweeping global tariffs.
The case, which tests the limits of presidential authority under the International Emergency Economic Powers Act, had drawn close attention from businesses, investors, and international trading partners.
The US Supreme Court will not issue a ruling on Friday (January 9), in a high-profile case challenging the legality of President Donald Trump’s sweeping global tariffs.
The case, which tests the limits of presidential authority under the International Emergency Economic Powers Act, had drawn close attention from businesses, investors, and international trading partners.
They are trying to find a way to let Trump keep the tariff money. If the tariffs are unconstitutional then Trump will be sued for billions and billions from businesses and governments.
It’s not Trump that will be sued to pay back the money unconstitutionally taken, it is the U.S., and the money will come from your tax dollars.
This. The Supreme Court already ruled that Trump cannot be held liable for crimes he may commit while doing his job as president.
Well, yes, but also that wouldn’t have applied in this case anyway. Politicians manage the public purse, they’re not personally liable for it.
They already took our tax dollars in the form of added tariffs and in no case is it coming back to us. The money certainly isn’t going to do more good in Trump’s hands. He’s already been trying to frame it as a presidential slush fund.
And given the insane deficits Trump is already running, they really need that tariff money.
Oh, it’s worse than that. Very large companies might be able to afford to sue to get that revenue back, but others can’t afford the legal fees to do that.
But Wall St. has a solution! Firms have started buying tariff refund rights from importers, at a discount to reflect the uncertainty regarding whether those tariffs will ever be refunded.
One of the largest firms doing this is Cantor Fitzgerald, who was run by the Commerce Secretary before he took office and is now run by his sons.
See! They figured out how to grift, no matter the outcome!
Jesus fucking Christ, I thought you were joking
Oh, that’s wild. I knew about the refunds, but had no idea there was a speculative market for them.