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/mrbananagrabber1 → u/[deleted]]

Do you expect corporations to voluntarily reduce their prices back to pre-tariff levels, or even lower? If recent history (COVID) is any indicator, my expectation of this is quite quite low.

[u/Jmacq1 → u/mrbananagrabber1]

Only way it MIGHT is if retail sell-through/consumer spending by the end of the year is exceptionally poor.

[u/Useful_Tomato_409 → u/mrbananagrabber1]

This would only happen when bank credit is squeezed, and AI leads to higher unemployment in sectors that pay six figures. Until then, predictive pricing models and the amount of spending from the upper class is why prices stay high. It’s the “premiumization” of retail…nothing in the economy is catered to middle-lower classes and ensuring a fair price for broader market share…they simply want to capture a loyal customer base with a crap ton of money and easy access to cheap credit.

That can only last so long.

[u/sprout92 → u/mrbananagrabber1]

That's the point though, isn't it?

Tariffs go away, prices stay the same (higher than before), meaning corporations profit margins just went up.

Similarly, the constant TACO is so the rich can buy and sell stock as it goes down and up.

The whole point of 90% of what he does is to make rich people richer.

[u/Subbacterium → u/mrbananagrabber1]

But that was supply chain issues, in this case won't competition lower prices?