The challengers argued the “emergency powers” #law doesn’t even mention #tariffs & Trump’s use of it fails several legal tests, including one that doomed President Joe Biden’s $500 billion student loan forgiveness program.
The economic impact of Trump’s tariffs has been estimated at some $3 trillion over the next decade, acc/to the #CBO.
#law #economy #inflation #affordability #CostOfLiving #geopolitics #Trump #SCOTUS
#Treasury has collected >$133 billion from the #import #taxes #Trump imposed under the emergency powers law, federal data from December says. Many companies, including the big-box warehouse chain Costco, have already lined up in court to demand #refunds.
#law #economy #tariffs #inflation #affordability #CostOfLiving #geopolitics #SCOTUS