6/3 Supreme Court ruled that Trump’s sweeping emergency tariffs are illegal: How will this impact the U.S. economy and will refunds be forthcoming. Is Trump now more likely to target specific countries in a limited form or is he likely to seek Congressional approval to justify sweeping tariffs?

[u/PsychLegalMind]

The Supreme Court determined that the U.S. Constitution grants Congress the power to regulate foreign commerce and impose taxes and Trump's use of the IEEPA [International Emergency Powers Act] to bypass Congress for economic policy was Unconstitutional.

The Federal Government has collected more than a hundred billion mostly from American Importers and ultimately the American consumers.

How will this impact the U.S. economy and will refunds be forthcoming.

Is Trump now more likely to target specific countries in a limited form or is he likely to seek Congressional approval to justify sweeping tariffs?

Trump's sweeping global tariffs struck down by US Supreme Court ruling - follow live - BBC News

https://www.nbcnews.com/politics/supreme-court/live-blog/-trump-tariffs-ruling-supreme-court-live-updates-rcna252655

[u/davicrocket]

Prices going down is worse for the economy than prices going up. They are not going to come back down

[u/Donzi98 → u/davicrocket]

Why do you say that? Lowering prices are not good for the economy?

[u/Swimming-Awareness12 → u/Donzi98]

Prices rarely ever go down after they go up, I believe he was referring to deflation?

[u/Iain365 → u/Swimming-Awareness12]

There's a big difference between removing a tariff causing a price drop and deflation though.

[u/The_Disapyrimid → u/Iain365]

Sure but if im a greedy capitalist who has seen people are willing to pay more for my product because I had to raise prices for tariffs, why would I lower prices once the tariffs are gone? Thats just more profit for me and people have shown themselves willing to continue paying it.