| CosmicSex said: The US Trade courts have cancelled all of Trumps tariffs. |
Not exactly all tariffs to my understanding, they've ruled that he does not have authority to set blanket tariffs, so the 30% tariffs on China, the 25% tariffs on Mexico/Canada and the 10% universal tariffs have been halted. The tariffs on specific sectors are still valid as per the court, so the 25% tariffs on auto industry, steel and aluminium as they were done the right way (Section 232 of the Trade Expansion Act).
The court ruling against many of Trump's tariffs today would lower US overall tariff rates by roughly 10%, only leaving the tariffs on cars, steel, & aluminum
If it holds (a very big if) tariffs would drop to the lowest rate since March & importers would get retroactive relief
— Joey Politano🏳️🌈 (@josephpolitano.bsky.social) 29 May 2025 at 02:49
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And keep in mind even if the existing tariffs get correctly struck down Trump has other ways of imposing tariffs (Sec 232 Sec 301 Sec 122) to fall back on.
— Joey Politano🏳️🌈 (@josephpolitano.bsky.social) 29 May 2025 at 02:06
