
"We have trillions of dollars coming into our country. If we didn't have tariffs, we would be a very poor nation and we would be taken advantage of by every other nation in the world, friend and foe."
"We're talking about hundreds of billions of dollars potentially in refunds affecting thousands and thousands of importers. Unwinding all that will be the largest administrative effort in U.S. government history."
"literally destroy the United States of America."
Two courts found the largest tariffs imposed this year under the International Emergency Economic Powers Act illegal and subject to reversal. If the Supreme Court upholds those rulings, the federal government could be required to refund substantial tariff collections already paid by importers. Legal estimates indicate potential refunds could reach hundreds of billions of dollars and affect thousands of importers, creating an unprecedented administrative task. Refunds would go to companies that paid the tariffs rather than to consumers, and the loss of tariff revenue would threaten funding used to offset recent federal tax cuts.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]