Tariffs in the second Trump Administration [SPLIT]

[rareboy]

And now it's 15%.

Trump raises global tariffs to 15%, day after Supreme Court ruling - follow live

After most of his tariffs were outlawed on Friday, Trump announced new global tariffs of 10% - which he says he has now increased to 15%.

www.bbc.co.uk

It is all performance because the loss has made him look weak.

I don't know the pretext of these tariffs...they have to be under one of the other Congressional Acts.

 

[unloadonme]

It is all performance because the loss has made him look weak.

I don't know the pretext of these tariffs...they have to be under one of the other Congressional Acts.

Section 122 Trade Act 1974 which allows him to impose a maximum of 15% for a maximum of 150 days.

 

[KaraBulut]

The truest thing he said:

The Secretary, commenting on whether consumers will get refunds from the approximately $175 billion in tariffs already collected, also said, “I got a feeling the American people won’t see it.”

In all probability, they've spent the money. That unbudgeted tariff money went from DHS to somewhere.

The immigration raids started before the Big Beautiful Bill. The East Wing got torn down without funding from Congress. The "Board of Peace" has been promised $10 billion. There's another $40 billion that went to Argentina.

There's a lot of money being spent that Congress never appropriated.

I hope the Democrats are hiring forensic accountants with government experience... or all of those Inspectors General that Trump illegally fired in early 2025.

Those warehouses that DHS is buying to turn into concentration camps might find a better use once we have a real Attorney General again.

 

[KaraBulut]

Section 122 Trade Act 1974 which allows him to impose a maximum of 15% for a maximum of 150 days.

...to address large and serious balance-of-payments deficits. This provision was enacted to provide a rapid-response tool for international financial instability and does not require a formal investigation before action is taken.

The whole world is having "financial instability" when they were just bragging about the Dow... "the Dow!.. is over 50 thousand"?

 

[rareboy]

The thing is, it is time limited now, isn't it? I suppose it is able to be re-instated upon expiration but the media chatter about these tariffs being a tax pid by US consumers is going to get louder as the mid-terms approach. I doubt if Congress is going to be eager to extend a 150 day global tariff which as I read it, cannot target individual countries, which means it also cannot likely exempt any countries.

So all the Trump allies that managed to dodge tariffs up until now, including RRRzzzxia

This new US war against the entire world is a last ditch effort by Trump to exert dictatorial imperial power and dominion over a world that is already swiftly moving away from him and relying on the US as a stable long term partner in trade among other things like defense, health, development etc. etc.

Well Tick Tock TrumpCo. Enjoy the last 150 days of fleecing the consumer.

 

[Norri]

SCOTUS gave Trump a lifesaver- lower prices, a lift to economic growth in an election year.

What did Trump do? He put on another set of concrete galoshes and imposed yet another illegal 10% universal tariff that will set up yet another round of price increases and litigation that will likely find the new tariffs to also be illegal.

I completely agree with you here, Trump wants lower prices for the midterms and the SC is helping out but he can’t even delay reimposing them much to the consternation of republican members of congress. He alone is why republicans will be losing seats but no one will ever tell him.

 

[rareboy]

Weighing in on the bizarre hypocrisy...or should I say...desperation to spin the loss as a win. This makes it highly unlikely that Congress would extend after 150 days.

 

[rareboy]

The flop sweat stinks for real...they are still trying to preserve his dictatorial authority to impose taxes without Congress
but section 122 is limited to 150 days and after that, he will have to look to ever more constrained tariffs.
Somebody needs to tell him that if every country on earth is subject to tariffs, then his bargaining power is still gone.
All that happens is that he raises prices on just about everything...but maybe this money is what the taxpayers will pay to
pay back all the money that those who sued will have returned to them from the illegal IEEPA tariffs.

 

[rareboy]

If you didn't know, Nutlick family and related firms have been buying up refunds for discounted prices as the market hedged bets on whether the Tariffs would be lifted.

So guess who will profit most? Not the consumers.

And mayube this is one of the answers why Roberts and Co. slow walked it over the last year?

 

[rareboy]

hahahaahaha

TrumpCo. still desperate to spin their loss as a win. Which only shows how hard it hit.

Once again...TrumpCo. would have (surely) reviewed all the existing tariff legislation ...and they settled on the IEEEPA because it allowed way more freedom to apply than Section 122 or Section 338 of the other Acts. And the oppotunity to selectively bullying and shake down other countries.

And he's wrong. After the Section 122 tariffs expire in 150 days, only Congress can extend them.

​

 

[Norri]

^^ I think the appropriate word in the first quote is given not gotten and he can’t go back to Congress as he never went there for tariff approval in the first place.

 

[rareboy]

They kick in today....

 

[unloadonme]

Turns out that the tariffs are back to 10%.

Trump's new global tariff comes into effect at 10%

The global levy comes in at 10%, lower than the rate the president had threatened at the weekend.

www.bbc.co.uk

 

[rareboy]

This is like more air being let out of the balloon.

I suspect that the message that the markets are sending has not been lost on TrumpCo.

They apparently need the Dow over 50K so they don't need to investigate the Epstein case.

But I think that someone has also figured out that a 15% global surtax on the US consumer was psychologically a step too far.

So caught in a trap of their own making, the 10% tax still has to be imposed because it apparently makes Trump's dick look bigger for the next 150 days.

Mike Johnson has said that he and the GQP in Congress have no appetite for tariffs so I supect that these will expire after their time is up and it will be too close to elections to add more.

 

[rareboy]

...or TACO.

“Even if these tariffs remain in place for just 150 days, the impact on US supply chains and prices could be significant...
We consequently expect carve-outs and exemptions to be announced in the coming days.”
- JP Morgan’s Jahangir Aziz

The thing is though that it has to be by product and not by country.

So I guess Trump might have some CEOs lining up to get classes of products exempted.

 

[rareboy]

This week was the first time that I have seen a real impact of countervailing tariffs with a 25% surcharge on any manufactured steel items from the US with a $6500.00 levy.

Unfortunately, even if IEEPA tariffs were lifted, Trump's tariffs on Canadian steel aren't likely to be.

We haven't slapped a counter-tariff on his 10% Section 122 tax imposed this week...likely because of the 150 day time limit, but the next round if he dips into Section 338 or Smoot-Hawley will likely result in global countervailing duties on all US goods and services. Hello recession.

 

[Alistair]

 

[rareboy]

One more time for the people in the back row. Countries do not pay tariffs.

Consumers do.

This does seem to have the ring of panic to it though....making me think that the companies like Costco who sued are feeling pretty confident they are going to get their tax refunded.

 

[cityboy-stl]

^^

I am still going to say this is another example of the courts dragging their feet. Trump started the tariffs in February 2025. His "Liberation Day" tariffs were April 2, 2025. We are in extraordinary circumstances now. Trump is moving at break-neck speed with the shit. Yet courts continue to act as if they must proceed like business-as-usual.

We would not be in this situation if the courts had acted in a proactive and timely manner, and took all this shit Trump is doing seriously. The courts let this tariff shit happen with their negligence and devotion to their "standard procedure", instead addressing it as the emergency threat that it is. If the courts had done their job and knocked these tariffs down the week after Trump announced them, we would not be in this position right now. We cannot afford to be waiting nearly a year for these courts to just get to it on their schedule and issue a ruling, while in the meantime, the damage they allow to happen is done, and the country falls apart under a demented, narcissistic, sociopathic, fascist monster. The courts need to get their act together and stop this shit when it happens.

^^ And in the same line....the whole birthright citizenship thing, taking over voting, and a bunch of other stupidity that Trump is doing, should have knocked down and settled months ago.