The majority of the sweeping tariffs Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds.
That potentially dramatic turn in the tariff saga comes after a federal appeals court ruled on Friday that Trump unlawfully leaned on the International Emergency Economic Powers Act (IEEPA) to impose across-the-board duties on countries.
Trump had used those powers to push import tax rates as high as 50% on India and Brazil – and as high as 145% on China earlier this year.
Right. I was thinking of the suspension of the de minimis exemption. Because that’s an $80 fee that the exporter does have to pay, if I understand it correctly.
Those are paid by the importer as far as I understand. The di minimus exemption that was passed was essentially supposed to make it so low cost items bought from other countries were exempt from tariffs/taxes. This meant that if you ordered something from Brazil, China, wherever and it was under a certain amount (think it was $800) it would just go through without being hit by the tax. Thus making it cheaper for the end buyer. Trump made an executive order to stop that because that would exempt a lot of people from getting hit by the taxes. Which was put in place with both parties supporting it… So it’s solely a new maga tariff thing in my opinion. Buy a $3 million server rack from elsewhere, pay a fee, buy a new shirt, would be exempt. But Trump didn’t want that, so he claimed it would reduce security and allow drugs into the country or some shit.
Right. There was an Australian redditor who made his living selling handmade wallets, but he had to shut it down because the price just went up $80 per wallet. Fucking idiotic.