Trump said he would immediately sign an order increasing tariffs globally by 10% under section 122 of the Trade Act of 1974 and will begin investigations of unfair trade practices allowing further tariffs. He asserted that he had the authority to impose additional tariffs under existing statutes without congressional approval.

...

Section 122 has never been used, and therefore courts have had no occasion to interpret its language. Some news reports have noted this provision appears to authorize the President to impose across-the-board tariffs on imports in some circumstances.”

I'm not seeing anything in here about when refunds are going out. Much the opposite.

[–] LadyMeow@lemmy.blahaj.zone 40 points 4 days ago (3 children)

So the Supreme Court ruled the previous tariffs were illegal. The importers are then able to attempt to get restitution for the tariffs that were collected since they went into effect, it will likely be a convoluted process, but the paid them, and thus are able to get them back.

Meanwhile the prices were raised downstream and the citizens pay them, and won’t see a cent.

Now there are likely to be new 10% tariffs across the board, possibly result in another round of price hikes for the consumers! Ah, America! 🇺🇸what a crap hole

[–] UnderpantsWeevil@lemmy.world 2 points 4 days ago

The importers are then able to attempt to get restitution

They can certainly try. Idk how long they'll need to wait before the Treasury starts cutting rebate checks.

Meanwhile the prices were raised downstream

The tariff rates far exceeded the inflation rate. And inflation has been driven by a host of non-tariff factors - AI driven chip shortages, supply chain disruptions at the Suez and the Panama canal, labor shortages driven by our pogrom against migrants.

Trump policy is shit. But it isn't exclusively bound up in the tariffs. If anything, his tariff policies seem to be his least disastrous, as there's been some degree of insourcing as a result

[–] Mycatiskai@lemmy.ca 1 points 4 days ago* (last edited 4 days ago)

The companies couldn't afford the tariffs in the first place so took on massive debt then Howard Nutlick's sons who are in charge of a company that he previously ran offered to buy up tariff rebates for pennies on the dollar from those companies

Companies took those pennies on the dollar to pay down the debts that they had to take on for the tariffs but now Nutlick's sons will get the tariff rebate of not the company.

https://www.newsweek.com/howard-lutnick-sons-may-make-money-supreme-court-ruling-tariffs-11558345