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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The only ray of hope is that at least one investment bank is making a big bet that the supreme court will strike down nearly all these tariffs as illegal.

The appeals court starts hearing arguments on 7/31 at which point they believe fairly quickly Trump will lose again, and then this gets kicked up to the Supreme Court for final say.

Trump already decisively lost round 1, 3-0 to a panel comprised of I think a Bush, Obama and Trump 1.0 panel of judges.[/quote]

:D  :D Dream on! The Supreme Court has been bought and paid for.. I'm not aware of the details of the arguments that helped the other side win at the appeals court, but I would have thought Tariffs are the purview of the Executive Branch.. Correct me if I'm wrong..[/quote]

[b]Tariffs in emergency situations are the purview of the President.  So, during wartime you can impose tariffs on other countries.[/b]

The problem is that the current administration has been claiming that trade deficits are emergencies...even though we have had trade deficits since the beginning of time and yet people have been doing just fine, even great.  Also, hard to justify imposing 50% tariffs on Brazil where we run a trade surplus.  Finally, there are countries like Nicaragua which are one of the largest suppliers of bananas and to some extent coffee, where of course we run a trade deficit because they are a poor country and the US can't grow bananas or coffee or other tropical products.

I kind of agree with you for 2 justices...but the other 4 conservatives are fairly principled and it's fairly cut-and-dry that unilaterally imposing tariffs for no reason is 1000% not a conservative principle.[/quote]

[b]Is there any law that says Tariffs cannot be imposed during non-war times or such tariffs need the approval of congress?[/b]

I know that a lot of anti-trump people (me included) are against these tariffs but what if, by the time the case comes up at the Supreme Court, Trump is able to show positive outcomes - tariff revenue, lack of inflation (or controlled inflation), employment at normal levels, robust stock market, etc.? Do you think the SC will still want to undo the tariffs and associated "benefits"? [/quote]

There is no law because it seemed rather obvious that a President isn't allowed to arbitrarily implement a new tax without approval of congress...and tariffs are taxes.

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