SCOTUS blocks Trump tariffs under IEEPA

[jon-nyc]

The three liberal justices did not sign on to the part discussing major questions doctrine, but nor did they specifically reject it. They just said it could be decided on statutory interpretation alone.

[LuFins Dad]

Initial market response is not great.

[Horace]

@LuFins-Dad said in SCOTUS blocks Trump tariffs under IEEPA:

Initial market response is not great.

Maybe wary of what Trump will do in his frustration.

Market reaction isn't really negative though. Especially when today's GDP numbers were garbage. Market is up.

[jon-nyc]

Keep waiting for Trump to post about this. I need to drink some sweet maga tears this morning.

[kluurs]

Is DJT going to give back the $175 billion collected? I guess we owe China a lot of money.

[LuFins Dad]

@Horace said in SCOTUS blocks Trump tariffs under IEEPA:

@LuFins-Dad said in SCOTUS blocks Trump tariffs under IEEPA:

Initial market response is not great.

Maybe wary of what Trump will do in his frustration.

Market reaction isn't really negative though. Especially when today's GDP numbers were garbage. Market is up.

There was an initial drop when the decision came out. It rebounded about 40 minutes later.

[Doctor Phibes]

He's just announced a global 10% tariff on everybody.

[Horace]

@Doctor-Phibes said in SCOTUS blocks Trump tariffs under IEEPA:

He's just announced a global 10% tariff on everybody.

Yeah. Oddly the market didn't react.

[xenon]

That tariff has a built in 150 day limit.

[Mik]

https://www.msn.com/en-us/money/markets/what-supreme-court-ruling-against-trump-tariffs-means-for-your-money/ar-AA1WKHtY

Includes the tariffs on French wine. Happy day.

[LuFins Dad]

Anybody need a German piano?

[Mik]

Gorsuch's comment on this (confirmed by Newsweek):

[Horace]

No need for journalist confirmation. That was in the written opinion released by SCOTUS.

[Mik]

I confirm anything I see on FB before I share it.

[xenon]

Trump had another tantrum and upped the 10% to 15%.

[Horace]

sigh.

[jon-nyc]

He loves taxing Americans. Makes Mamdani look like Milton Friedman in comparison.

[Horace]

From what I understand, there has to be an investigation and written justification (at least) for tariffs under the new sections. Of course the administration will concoct something, but if it's too transparently garbage, it'll be open to court rejection, presumably.

[Axtremus]

With so many AI chat bots around, surely one can "write" a justification to muddle through the 150 days legal maximum.

[jon-nyc]

Then he lets them lapse for a day and does another 150 days of 14.9%?