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Not just that. Corporations increased their prices citing tariffs but I’ve feeling that those prices aren’t going to go down now.
Prices never go down. Only up. Even competition only temporarily drives down prices until your competitor fails.
And, prices won’t go back down.
ALL ACCORDING TO PLAN
Remember:
Socialism for corporations, austerity for the working class.
taxes
robbed
:-/ Libertarianism is the last refuge of scoundrels
refunds are going back to corporations
Furious Trump signs global 10% duty after supreme court issues tariff blow
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.
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
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
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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
its okay , they’ll blame it on the immigrants
And as always even in the once in a blue moon they criticize their own policies, they’re only crying about them getting screwed over, not the people in other countries getting 10x screwed over.
Yeah I totally feel bad for you Mr. American. I’m supposed to ignore what you did to me or my own countryfolk because obviously you’re more important than us.
I just saw a political advertisement in Germany saying, “don’t throw out your money, use it in front of your own door” (it’s partly a saying, doesn’t translate perfectly), implying that if you use your money for other’s benefit, it is wasted.
People are selfish
Yep, it won’t be forgotten, that’s for sure.
Individuals among them will piss and moan ‘it wasn’t me’, ‘I didn’t vote for this’, ‘as an American I support (insert target nation here) but collectively this is on them, their apathy and selfishness.
Trumponomics 101
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All part of the American Scheme. Plus deadbeat Don will keep any refunds as tribute for the wonderful times he’s delivering for corporations. Small busines? Pfft. You’re on your own. But thanks for the cash consumer.
I fucking owed this time around. I didn’t even get a fucking refund. The rich get richer ffs
We need a fucking fire.
They were talking on the news about Australian exporters being due refunds for this, but didn’t really get why as they would simply have passed on the costs.
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JFC this guy.
