If Trump loses his tariff lawsuit, America may have to refund businesses more than $200 billion
If Trump loses his tariff lawsuit, America may have to refund businesses more than $200 billion
If Trump loses his tariff lawsuit, America may have to refund businesses more than $200 billion | CNN Business
The majority of the sweeping tariffs Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds.
That potentially dramatic turn in the tariff saga comes after a federal appeals court ruled on Friday that Trump unlawfully leaned on the International Emergency Economic Powers Act (IEEPA) to impose across-the-board duties on countries.
Trump had used those powers to push import tax rates as high as 50% on India and Brazil – and as high as 145% on China earlier this year.
Not only will the consumers never see a dime of any of the money if it's refunded, the companies aren't going to lower prices because you've already absorbed the price shock.
Right. Everything today is about softening you up. They say, we will kill you—and you panic—then they roll it back to just losing an arm, and you’re happy about it.
Like a frog in boiling water.
This is called "price anchoring" when used in business. They throw out an outrageously high number to start and then follow it up with something less to make it seem like a good deal when that was really the price they wanted all along.
Alas, a lot people have already lost an arm and a leg and there's still no end in sight.
Ianal, I really hope there is some sort of class action that can be done to force companies to pass that back to consumers.
It should be easy enough to pass through to all the electronic pay methods.
Or force markup items to all be put on massive sale until an equal amount has been sold to make up the sales at markup.
There are no perfect solutions, some people will still make out like bandits.
But jfc, just releasing billions to these companies will only benefit the C-Level and maybe some shareholders, the people already benefiting, not the ones feeling the pain.
A class action just passes the money from one elite class (corporations) to another (class action lawyers). Consumers will get a virtual prepaid debit card for $1.97 in 5 years that can’t be spent anywhere because it can’t be used online and it costs $5 to have them mail you a physical card
Should get out guillotines
See: the gas price jump in 2008-ish