Trump Doubles Down On Tariffs Even As Supreme Court, CBP And Whole World Says They Don’t Work

We’ve had Trump’s bonus tax for consumers (or as he likes to call them ‘tariffs’) for nearly a year now and, surprise, surprise, the economic policy of ‘pissing off your trade partners’ hasn’t heralded the economic paradise that Mr. President claimed it would be.

Even after the Supreme Court shot down Trump’s use of Emperor-Palpatine-Style ‘emergency powers’ to impose tariffs, he’s doubling down and finding new loopholes to increase the tax to a blanket 10% for everyone. No, wait, sorry, this just in, 15%. He changed his mind apparently.

It’s a far cry from the giddy heights of 145% taxes on Chinese imports. Plus, Trump’s using Section 122 which is only temporary and will need congressional approval after 150 days. Oh, how the mighty have McFallen.

What’s really hilarious is that to some extent, the tariffs were beneficial. At the time, the entire world bent over backwards to capitulate with Trump’s terroristic demands, securing some favorable deals for Trump. Now those world leaders must feel a little stupid knowing that Trump’s gun to their head was seemingly illegal and apparently could have been removed at any time.

Well, now it seems they’re finally standing up for themselves, taking the inch that the Supreme Court’s granted. The EU have already said that they’re not going to pay more and that “a deal is a deal.”

“The current situation is not conducive to delivering ‘fair, balanced, and mutually beneficial’ transatlantic trade and investment, as agreed ‌to by both sides.”

Potentially even the illegal tariffs might have to be refunded and repaid, which would be crazy. Jesus Christ, what a mess…

So we’ll just have to wait and see what happens of course and there is still a lot more flailing to be done, but right now Trump’s on the back foot and the world can take a little breather.

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