This is why this new 15% tariff is being challenged by India, EU, UK…why let it go into effect, as it did this morning? It’s illegal too. |
The broad public is screwed, yes. But that doesn't mean that the federal government should just be able to keep ill gotten gains. Refund the money to whoever paid a tariff and then the companies have to declare the refund as income. Or if an individual has a receipt from buying goods from abroad, make that deductible on their taxes for 2026 filing , since 2025 filing has already started |
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Apparently this new illegal tariff does not apply to many things - produce, pharma, aluminum, steel, and anything from Mexico or Canada.
Looking forward to cheaper avocados! |
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World-renowned Harvard educated Harvard/Columbia economist on why the tariffs are illegal and why the stolen money needs to be returned.
Jeffrey Sachs: Trump Must Return STOLEN Tariff Money |
Any business or individual who paid a tariff should just deduct it from there taxes. |
Another advantage-the-wealthy crusade.
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Someone asked earlier in the thread if they should pay the tariff on an item they ordered.
If you already received it or it was already processed by Customs and Border Protection before Feb. 24, you will owe the tariffs that the Supreme Court just ruled against. After that, you’ll have to pay the new tariff. FYI unless it’s Mexico or Canada, the new “global” tariff is 10%, not the 15%. He changed his mind too late. Remember it does not apply to many things, so your product may be exempt. |
The refund will go to whoever paid the tariff. From there, it may or may not be filtered down to the actual customer who was charged a higher price to cover the cost of the tariff. Many companies just tried to absorb it, cutting into profits. They’ll keep their refund. |
versus an unaccountable federal government? If the county overtaxes you on your property and you win a lawsuit against them, you should get a refund. Same with illegal federal money grabs |
That’s not quite so straightforward though. Company A produces a component in a country subject to US tariffs (the “country of origin”). Company B imports it, pays tariffs and duties to US govt. It supplies it to company C at a markup/profit AND bills through for the tariffs. Company C uses the component in the manufacture of a larger or more complex product and sells the finished product to Company at a profit AND bills through for the tariffs. It is not unusual for this chain to continue all the way up to quite large household name companies, with tariffs billed through as a separate line item each time, and the end buyer may be enterprise, government, or consumer. “Refunds” will be requested all the way through the supply chain since each company paid tariffs. |
The tariff billing up the chain will have to be dealt with between the different companies, maybe with mediation etc. But whatever the US Government billed the importer needs to first be refunded to that importer, and any tax deduction the first importer took for tariffs needs to be reversed |
Just another paradigm where we've institutiinally privatized gain at public expense with no meaningful social benefit. Way to make more likely all the ridiculous side effects which would come with the backlash, assuming that isn't quashed by something worse, still. |
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Trump bait and switched?
Shocking! (not shocking) |
Since the Administration has conceded in its appeal to the Federal Court of Appeals (post Court of International Trade) that section 122 tariffs are unavailable and cannot be lawfully used, it is a matter of time before these are tossed out. Maybe this time, the courts will not stay injunctions and the whole refund mess can be avoided. |