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Shock court ruling on Trump tariffs

(87 Posts)
Wyllow3 Thu 29-May-25 13:20:02

This is mind blowing stuff.

A US federal court blocks President Donald Trump's sweeping tariffs, in a major blow to his economic policies

Three judges rule that Trump overstepped his authority when he used an emergency law to impose tariffs on nearly every country.

BBC verify an hour ago.

"US government raked in billions after Trump tariffs
The US has collected more than $40 billion in border duties since tariffs took effect, according to the Department of the Treasury - a record amount.

If the White House's appeal against the ruling blocking many tariffs is not successful, a big chunk of that will need to be refunded.

As the chart below shows, April and May saw the level of duties collected hit at least more than double the average since 2020.

Duties on cars, aluminium and steel are not impacted by the ruling, but the sweeping so-called reciprocal tariffs unveiled by Trump - 10% across the board for most countries and 30% for China - have been rendered legally void.
If higher courts do uphold Wednesday’s ruling after the White House appeals, that could be a hefty bill for the US government.

Whats more - just look at this report from the timeline

*
The chart below shows how US investors have reacted positively so far to the court ruling on Trump’s tariffs*
Futures are agreements to buy or sell stocks at a set price in the future, so these movements provide an indication of what could happen when US markets open later today.

The Nasdaq-100, S&P 500 and the Dow Jones all rose after the announcement.

Trumps reaction

But moments after the ruling, the Trump administration said it is appealing because it is "not for unelected judges to decide how to properly address a national emergency" - and some tariffs levied under other laws are not impacted by the decision

The US is currently negotiating individual trade deals with dozens of countries - those talks have now been thrown into chaos.

www.bbc.co.uk/news/live/c2dekzjg6gzt

MrsMatt Fri 30-May-25 14:31:46

Good, it's about time he was brought down a peg or two. But what's the betting he is stamping his feet and having tantrums

Sanmrbro Fri 30-May-25 14:29:34

Trump IS the national emergency?

Wyllow3 Fri 30-May-25 14:18:02

Delene100

Chocolatelovinggran

I feel that the " National Emergency " is that an idiot is in the White House..
On a serious note, I share eazybee's conviction that these judges will find themselves summarily dismissed.
Mr Trump has a taste for revenge- taking.

Agree. I think he has dementia and is behaving irrationally. His fellow Republicans are propping up his presidency. It's even more worrying when you know he could have his hand on the nuclear button. Trump needs to be removed but JD Vance, his would-be replacement, is an idiot. What are the American people going to do? I dispair because most in power only think of keeping their positions.

I imagine a great many people are going to go to their Republican representatives at lower levels, but its taking time to go up the food chain to senators:

in the meantime however attempt to play the judiciary cases both delays and untold taxpayers expense. more for the haves in this "I'll sue you" culture (including no doubt lawyers) and less for the have nots.

Wyllow3 Fri 30-May-25 14:12:57

Well at least its Musk's last day - and I hope someone more level headed is put in charge of the chaos of DOGE for the sake of all.

When will they learn - sudden, unplanned, no consultations - is not good. It feels like play in the sandpit, where castles are built, knocked down, and rebuilt with the next round of kids.

Wyllow3 Fri 30-May-25 14:11:19

It is the speed and uncertainty that is damaging the economy however. At one end of the scale it's about financial market confidence at the other its food and goods costs and how small businesses "Mom and Pop" outlets will fare.

Abroad, the EU/other areas sees little point in sitting down with Trump unless it's all clearer. Less orders for US goods as who knows what will happen? Pressure to make things and not US import. Tesla sales have gone down 49% in the EU.

Internally the confusion makes matters worse
(quotes from CNN)

"The back and forth is confusing enough for any retailer trying to do business, especially when they have to plan weeks or even months in advance.

“It’s kind of a ping pong back and forth. We’re trying to understand what’s on, what’s off. So it’s very difficult for retailers to try and plan ahead,” said Gold.

As retailers sit confused, fewer containers are headed for America’s ports. The 30% tariff on China was already proving too costly for many retailers to bring more inventory into the United States, according to Gene Seroka, executive director of the Port of Los Angeles. About 45% of the port’s cargo comes from China.

Those that can afford the cost are shipping already-manufactured products, but no new factory orders are being placed, he said.

“With the whipsaw effect of information that continues to come out on trade policy and tariffs – many continue to take the wait and see approach,” Seroka told CNBC on Thursday.

Container ships and products - "We still have 10 cancelled sailings of scheduled vessel arrivals for June – half of those are in the first week,” Seroka said. “So we are not seeing an uptick like some observers had called for or a big surge. It’s a moderate uptick to catch up to where we were.”

Retail "There’s probably not going to be an issue with empty shelves, but I think there will be additional costs being potentially passed on to consumers, because what we’re seeing is all this uncertainty has a cost,” said Daniel Hackett"

A number of large retailers, such as Walmart, Home Depot and Target, have already said they will increase prices to mitigate the impact of tariffs

Flutterby345 Fri 30-May-25 14:11:13

Look up the 3 pillars of democracy. The judiciary is there to make sure that the legislature and the executive (Trump) don't overstep their powers. IMHO the judiciary should not be elected ie political. The 3 are there t o to counterbalance each other so.you don't end up.with a dictator having all the power. Absolute power corrupts absolutely which seems to be the path Trump.is on.

Delene100 Fri 30-May-25 14:06:50

Chocolatelovinggran

I feel that the " National Emergency " is that an idiot is in the White House..
On a serious note, I share eazybee's conviction that these judges will find themselves summarily dismissed.
Mr Trump has a taste for revenge- taking.

Agree. I think he has dementia and is behaving irrationally. His fellow Republicans are propping up his presidency. It's even more worrying when you know he could have his hand on the nuclear button. Trump needs to be removed but JD Vance, his would-be replacement, is an idiot. What are the American people going to do? I dispair because most in power only think of keeping their positions.

vintageclassics Fri 30-May-25 13:46:44

Hmmm allowing a convicted Felon to challenge the law is a little like putting a toddler in charge of a sweetie shop or in this case a bulldozer - he'll probably get his way as he has no respect for anyone other than himself

Macadia Fri 30-May-25 03:52:40

What people dont understand is that his strategy is to operate with enormous speed. By the time the red tape and judicial system are able to write up which laws are broken, he has already moved on to the next move in the playbook. He is geniously running circles around the whole foundation and they have no chance of stopping a single one of his intentions. It is not 1930. This is 2050. All old school politicians, governments, 19th century stoic relationships are now obsolete and quite pitiful.

Macadia Fri 30-May-25 03:35:59

Most are raking in from profits from this carefully designed chotic fake tarrif war that is nothing less than a stock market game for those understanding how to ride the wave. In the end, the U.S. will come out ahead but it will take a generation to reap the profits of this teasing game. Orange man is not deliberating on his own. He is elected and fulfilling his promises made to those who put him on the pedastal. He spent 4 years on this plan and is unstoppably carrying out the democratic will of the people. The people with $$$

Wyllow3 Fri 30-May-25 00:20:12

I reckon the stock markets/financiers as well as businesses especially small ones and people facing tariff price rises must be pretty fed up with yet more "will he won't he how much"

Wyllow3 Fri 30-May-25 00:16:18

Not quite as bad as that,

BBC timeline

"Trump's tariff plan is temporarily reinstated while a court considers a White House appeal one day after a federal court blocked the US's trade levies

White House advisor Peter Navarro says the Trump administration is ready to take its appeal to the Supreme Court, adding: "even if we lose, we will do it another way"

so the battle still on.........

Grandmabatty Thu 29-May-25 21:01:26

Apparently a federal court has reinstated most of his tariffs. Just announced by Peter Stefanovich on Twitter

Wyllow3 Thu 29-May-25 19:24:08

Sarnia

The Donald is not having a good day. The US trade court blocking his tariffs and Elon Musk jumping ship. I know Musk was there temporarily but he made it plain in his interview what he thinks of Trumps' grasp on economics.

Yes - its not just that foreign buyers of Tesla products are pulling out in order to object to tariff policy,

but at home, given that Trumps regime are climate change deniers, why buy an electric car?

Hoist by own petard, etc.

"The Elon Musk–led automaker’s sales continue to decline in the continent, dropping by 49 percent since April 2024 across 32 countries, according to a report by the European Automobile Manufacturers’ Association released Tuesday.

In the background of the company’s terrible tumble, sales for all other electric car companies rose by 28 percent in April."

Wyllow3 Thu 29-May-25 18:58:21

Whitewavemark2

Yes I can’t remember exactly, but he didn’t get his way then. I bet wyllow will know.

I don't.

The cost of all these cases and challenges to the government must be mounting exponentially when tax cuts promised. Never thought through, is it.

Kari4 Thu 29-May-25 17:24:13

Well it’s about time someone reigned him in!

Norah Thu 29-May-25 17:20:18

Sarnia

The Donald is not having a good day. The US trade court blocking his tariffs and Elon Musk jumping ship. I know Musk was there temporarily but he made it plain in his interview what he thinks of Trumps' grasp on economics.

Quite amusing, really. TACO on tariffs (Trump Always Chickens Out) bit is particlarly humourous, in my opinion.

Smileless2012 Thu 29-May-25 17:17:12

Maybe a good thing Whitewavemark if he's too busy to interfere in other countries affairs, which he only seem to make worse anyway.

Whitewavemark2 Thu 29-May-25 16:49:50

Mind you there is a veritable tsunami of court cases trundling along. Trump is going to be very busy defending them all.

Whitewavemark2 Thu 29-May-25 16:22:35

Yes I can’t remember exactly, but he didn’t get his way then. I bet wyllow will know.

Ladyleftfieldlover Thu 29-May-25 16:16:54

Didn’t one of trump’s appointees to the Supreme Court (young woman) abstain from a trump related thing recently? I can’t remember the whole story. Basically trump can’t expect the Supreme Court to back him every time, even though the majority are right wingers.

Whitewavemark2 Thu 29-May-25 16:06:25

Yes I do know really - it is me being pessimistic 😞.

Wyllow3 Thu 29-May-25 16:01:37

Whitewavemark2

I reckon what will happen is that it will go to the Supreme Court and as they have been put into place by Trump, will overturn the judgement.

Well, appointed over time by different POTUS so its currently a 5/4 majority but its one to watch not just because of tariffs but the claim that the USA needs to be under emergency as in wartime measures. My guess is it could go either way....

Sarnia Thu 29-May-25 15:55:39

The Donald is not having a good day. The US trade court blocking his tariffs and Elon Musk jumping ship. I know Musk was there temporarily but he made it plain in his interview what he thinks of Trumps' grasp on economics.

Whitewavemark2 Thu 29-May-25 15:45:15

I reckon what will happen is that it will go to the Supreme Court and as they have been put into place by Trump, will overturn the judgement.