Trump Keeps Trying To Tax Americans Through Tariffs

 

The economics/Consitutional-illiterate moron Malignant Fascist keeps trying to add to the burden of American families struggling with affordability through tariffs, even after the Republican Supreme Court gave him an off-ramp yesterday.  He's taking aim at his cankles and firing again:

President Donald Trump signed an executive order imposing a new “temporary” 10 percent global tariff following the Supreme Court’s decision Friday striking down many of the global tariffs he raised last year.

“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately. Thank you for your attention to this matter!,” Trump wrote on Truth Social.

Trump is invoking Section 122 of the Trade Act of 1974, which allows the president to impose tariffs of up to 15 percent to address a “large and serious balance-of-payments deficit,” according to a White House fact sheet. Tariffs imposed under the authority may remain in effect for no more than 150 days unless Congress passes legislation extending them.

The Supreme Court, in a 6-3 decision, rejected the administration’s authority to implement tariffs under the International Emergency Economic Powers Act.

The announcement seeks to keep many of his tariff policies intact even after the court’s ruling.

“Effective immediately, all national security tariffs under Section 232, and existing Section 301 tariffs — they’re existing, they’re there — remain in place, fully in place, and in full force and effect,” Trump told reporters at a White House press conference Friday afternoon. “Today, I will sign an order to impose a 10 percent global tariff under Section 122, over and above our normal tariffs already being charged. And we’re also initiating several Section 301, and other investigations, to protect our country from unfair trading practices of other countries and companies.”

The duties are set to take effect Feb. 24 at 12:01 a.m...

His toddler-level concept of tariffs is that they bring money into the country (he hopes some of it into his pocket, eventually).  What everyone who ever took a history or economics course or simply has common sense knows, though, is that tariffs are a tax paid on imported foreign goods that's passed on to businesses and consumers through higher costs.  Tariffs also isolate America from its trading partners and friends, making us seen as unreliable and leading those long-time partners to look for other trade relationships.  That the most powerful person in our country either doesn't comprehend that or doesn't care (or both) and is actively trying to circumvent what SCOTUS has asserted is not his prerogative, should be a final straw for many in commerce, agriculture, and industry that have gone along with him over the years -- and many are speaking out.

The American people have also made up their mind:

But, please proceed, MF!  And hurry up, mid-terms!

(Image: via MockPaperScissors)