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US Tariffs on Switzerland
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Archer
··Omega Qualified WatchmakerI'm sure all the big corporate law firms are about to get busy on this. I wonder about all the small business owners who had to eat those costs, who don't have the capital to sue the Federal government.
In personal watch news, this makes it slightly cheaper for me to buy more used Seikos from Australia!
https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/
Paywall removed link:
https://www.archivebuttons.com/arti...story/cantor-fitzgerald-trump-tariff-refunds/
I don't necessarily blame a company for selling these rights if they are hit with a huge tariff on some already ordered incoming goods, and need the cash to keep the business afloat. So it may have been a decision to either sell or go out of business. But there always someone waiting to profit from your adversity, even better when they drove the policies that created that same adversity.
So push to create illegal tariffs, then bet against them by buying up refund rights, and make a shit ton of money when they get shot down. Cool!
I think the idea that the average consumer would get anything refunded is pretty fanciful, because the upwards flow of money simply cannot be allowed to be reversed.
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Foo2rama
··Nowhere near as grumpy as he used to be...I can get that Swedish Microbrand now!!! The tariffs took them a tad too high. Nezumi here I come!!
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dsio
··Ash @ ΩFSo does this take effect immediately or is there a lag time before it gets applied by customs, or is there an option to just ignore the ruling and keep collecting it?
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pdxleaf
··"I cut it TWICE and it's still short!"So does this take effect immediately or is there a lag time before it gets applied by customs, or is there an option to just ignore the ruling and keep collecting it?
The one thing everyone seems to agree on is that everything is in chaos.
NYTIMES:
"In a 63-page dissent, written by Justice Brett M. Kavanaugh, who was joined by Justices Clarence Thomas and Samuel A. Alito Jr., the dissenters also raised concerns that the decision would lead to chaos, at least in the short term as importers who have already paid the tariffs seek refunds.
“The United States may be required to refund billions of dollars to importers who paid the IEEPA tariffs, even though some importers may have already passed on costs to consumers or others,” Justice Kavanaugh wrote, referring to an acronym for the 1970s emergency statute Mr. Trump invoked to impose tariffs. He noted discussion at oral arguments about how such a refund process was likely to be a “mess.”"
We only obey laws that are convenient.
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Dan S
·Who TF knows.
The one thing everyone seems to agree on is that everything is in chaos.
NYTIMES:
"In a 63-page dissent, written by Justice Brett M. Kavanaugh, who was joined by Justices Clarence Thomas and Samuel A. Alito Jr., the dissenters also raised concerns that the decision would lead to chaos, at least in the short term as importers who have already paid the tariffs seek refunds.
“The United States may be required to refund billions of dollars to importers who paid the IEEPA tariffs, even though some importers may have already passed on costs to consumers or others,” Justice Kavanaugh wrote, referring to an acronym for the 1970s emergency statute Mr. Trump invoked to impose tariffs. He noted discussion at oral arguments about how such a refund process was likely to be a “mess.”"
Why even bother with a dissenting opinion if that's the best you can do. Just vote against the majority to demonstrate loyalty, and keep your stupid mouth shut.
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Dsloan
·This is going to get complicated, because as things tend to go with the level of greed present these days, tariff refund rights (in the event they are overturned as just happened) have become a thing to be bought and sold. Companies were selling their tariff rebate rights to financial firms for a fraction of the value of the potential refund. One of the biggest firms to benefit from this would maybe make you raise an eyebrow, but only if you haven't been paying attention to the sheer enormity of this grift...
https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/
Paywall removed link:
https://www.archivebuttons.com/arti...story/cantor-fitzgerald-trump-tariff-refunds/
I don't necessarily blame a company for selling these rights if they are hit with a huge tariff on some already ordered incoming goods, and need the cash to keep the business afloat. So it may have been a decision to either sell or go out of business. But there always someone waiting to profit from your adversity, even better when they drove the policies that created that same adversity.
So push to create illegal tariffs, then bet against them by buying up refund rights, and make a shit ton of money when they get shot down. Cool!
I think the idea that the average consumer would get anything refunded is pretty fanciful, because the upwards flow of money simply cannot be allowed to be reversed.
I had the day off today and now I'm just sitting around my home studio in a quiet rage after reading that.
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Speed2Sea
·It has been reported that all national security and other tariffs under Sections 232, 201, and 301 (e.g., on steel, aluminum, autos, and specific countries/products) remain fully in place and effective immediately. Also, President Trump said he will pursue a new 10% global tariff on top of existing ones under laws like the 1974 Trade Act.
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gatorcpa
··ΩF InvestiGatorAlso, President Trump said he will pursue a new 10% global tariff on top of existing ones under laws like the 1974 Trade Act.
https://archive.ph/cci5O
It’s a bit wonky and hard to follow, but the bottom line is this is but one chapter of a very long book.
It isn’t over yet. Not when this administration’s economic model goes back to the ‘90’s.
The 1890’s!
gatorcpa
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Dan S
·It has been reported that all national security and other tariffs under Sections 232, 201, and 301 (e.g., on steel, aluminum, autos, and specific countries/products) remain fully in place and effective immediately. Also, President Trump said he will pursue a new 10% global tariff on top of existing ones under laws like the 1974 Trade Act.
At this point it's pretty clear that the tariffs are not beneficial or popular, but he and his friends can make a lot of money by playing these games.
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watchyouwant
·A Narcissist's bruised Ego can lead to the decision now , to pursue a War . Declare Martial Law and back to the War Powers ... Lame Duck Preso has a Ring to it .
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river rat
·They will have to give refunds because it was taken from you illegally. The supreme court said the tariff was illegal. Congress and the senate control the purse the checks and balances there should have been a bill for the tariff then congress and senate vote on it. What gets me mad is one party knew it and did nothing now we have this mess all because they're afraid of their boss. Congress and the senate there our representatives and one side did nothing. Now if those tariffs were used on a ball room and I know someone getting a new luxury jet because she is not happy with a coastguard leer jet. Our income tax might be paying for the tariff refunds and it's a lot of money. I see many lawsuits on the US govt to get their money back all because Congress and senate looked the other way they knew it was illegal. It could have been stopped in its tracks if congress and the senate all were on the same page and told their boss there needs to be a bill and voted on you can't just makes stuff up and do it.
Edited:
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Evitzee
·I refuse to get excited about any of this, the administration will do what it wants to do and try to push the envelope. They all do that. In less than three years the tariff nonsense will be thrown away by the next president.
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Pastorbottle
·I'm embarrassed that a Supreme Court justice would dissent from a basic constitutional issue on the basis that refunds are inconvenient. I think his other rationale was that Trump could possibly have used a different law as the basis imposing tariffs, although he didn't.
Why even bother with a dissenting opinion if that's the best you can do. Just vote against the majority to demonstrate loyalty, and keep your stupid mouth shut.
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Dan S
·If politics involved it's practitioners keeping their stupid mouths shut, then there'd be absolute silence from all sides of the political debate............sounds like bliss!
I understand that Thomas is reduced to being an angry old man who just wants to line his pockets and burn the country down because he feels he's been treated so badly, but what's Kavanaugh's excuse. Maybe he's just trying to stay out of the president's crosshairs and stay in the group chat that gives the insider information.
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dsio
··Ash @ ΩFSo is the new 10% in effect immediately or is it something that is likely to be challenged also?
I’ve had my Zentih sold three times but this keeps scuppering the deal so it’d be good to be able to get it done at some point.
I’ve had my Zentih sold three times but this keeps scuppering the deal so it’d be good to be able to get it done at some point.
