What’s next after “reciprocal tariffs” were struck down by the court?
If the Court of International Trade’s ruling on “reciprocal tariffs” is upheld, ALL tariffs collected since April 2nd would need to be refunded.
Based on our calculations, which assume 2024-levels of US imports, this would be roughly $10 BILLION of tariff revenue. This includes the 10% baseline tariff on all countries as well as the higher rates imposed on select countries.
The US would owe China alone a refund of roughly $3.5 BILLION.
Meanwhile, the Trump Administration has already said they will be filing an appeal.
As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump
for the opportunity to reduce wasteful spending. The@DOGE mission will only strengthen over time as it becomes a way of life throughout the government. https://x.com/elonmusk/status/1927877957852266518
..may not be an amazing day for our local market.
..but what an amazing day for a DOUBLE WIN:
1. Trump's tariffs invalidated by the courts
2. Elon Musk ends his tenure with DOGE and returns to where he belongs
With both tariffs and DOGE ending with nothing to show for, Trump 2.0 has been a Failure!
All for nothing! Stupidity!
