Yesterday, the Court of International Trade ruled that the lawless Malignant Fascist's 10% global tariffs that he imposed after losing in the Supreme Court were illegal. The tariff-happy MF is expected to appeal the judgement, likely for a third loss. From the Associated Press:
'A split three-judge panel of the Court of International Trade in New York found the 10% global tariffs were illegal after small businesses sued.
The court ruled 2-1 that Trump overstepped the tariff power that Congress had allowed the president under the law. The tariffs are 'invalid' and 'unauthorized by law,' the majority wrote. [snip]
The ruling marked another legal setback for the Trump administration, which has attempted to shield the U.S. economy behind a wall of import taxes. Last year, Trump invoked the 1977 International Emergency Economic Powers Act (IEEPA) to declare the nation’s longstanding trade deficit a national emergency, justifying sweeping global tariffs." (our emphasis)
In February, even the MAGAt Supreme Court struck down his vindictive and illegal tariffs that the MF used as a weapon against perceived adversaries, ruling his justification for imposing them was unconstitutional. Also, tariffs, which are a tax on imports paid by U.S. consumers (not the exporting country, as the MF thinks), have contributed to inflation and are broadly unpopular.

My cat understands economics better than Donald J. Trump.
ReplyDeleteFunny and true!
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