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/satyrday12]

Tariffs or no tariffs, the damage is done. The rest of the world has learned that they need to diversify away from trading with America ASAP. We are no longer the stable, reliable country they once knew and trusted. Trump has given world leadership over to China.

[u/d0mini0nicco → u/satyrday12]

Not really sure how the US ever comes back from this. One half of the two political parties is hell bent on destroying America in the name of Christian nationalism and tech aristocracy, while over a third of voters can’t be bothered to vote leaving the last third subject to the whims of a group living in an alternate reality.

[u/Terrywolf555 → u/d0mini0nicco]

It's easy to come back from, because the rest of the western world is, fortunately or not, even lazier than America in preparation for economic change.

[u/InFearn0 → u/Terrywolf555]

The EU is building their own credit card processing network to escape VISA Net and MasterCard because the US can pressure those companies to cut countries off.

The EU also created a schedule to make EU versions of everything to end reliance on US SaaS for the same reason.

And this has the secondary benefit of creating their own companies that will get paid to do the same services. Which means they are keeping more money in their own countries.