The idea of imposing a 10% global tariff under a different authority is a significant point of discussion, particularly given past legal challenges and pronouncements. The core of this concept revolves around finding new avenues or justifications to enact such a trade policy. It’s like trying to find a loophole or a different door when one has been closed.
The discussion often centers on the President’s authority to unilaterally impose tariffs. Historically, tariffs are seen as a form of taxation, and under the U.S. Constitution, Congress holds the power to levy taxes. This fundamental principle is a recurring theme when discussing presidential actions on trade, leading to debates about the scope of executive power versus legislative prerogative.… Continue reading
In a significant ruling, the Supreme Court has determined that President Trump exceeded his authority by imposing sweeping tariffs under the International Emergency Economic Powers Act (IEEPA). The justices, in a 6-3 decision, found that the law, intended for national emergencies, does not grant the president the power to unilaterally impose tariffs of unlimited scope. While this decision invalidates some of Trump’s tariffs, his ability to impose duties through other legal avenues remains unaffected. The ruling offers potential relief for businesses burdened by these tariffs and may pave the way for refund claims on unlawfully collected duties.
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A recent report from the Federal Reserve Bank of New York has shed light on a truth many suspected all along: Americans are shouldering the vast majority of the costs associated with former President Trump’s tariffs. It turns out that approximately 90% of these tariffs are ultimately paid for by consumers here in the United States. This is a revelation that, while perhaps shocking to some, aligns precisely with how economists have long understood the mechanics of tariffs. When a country imposes taxes on imported goods, those costs don’t simply vanish into thin air. Instead, they are typically passed on down the line, from the importer to the retailer, and ultimately to the end consumer.… Continue reading
The House of Representatives passed a resolution disapproving of President Donald Trump’s tariffs on Canada, marking a significant Republican rebuke of his economic policy. This vote, which saw several Republicans join Democrats, occurred despite President Trump’s warnings of electoral consequences for those who opposed him. The resolution’s passage highlights the deep unpopularity of the tariffs in certain districts, even leading some Republicans to vote against the president on principle.
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It seems quite remarkable, and frankly, disheartening, to learn that the decision to increase tariffs on Swiss goods was reportedly driven by a personal dislike of how a leader spoke during a phone call. The implication here is that a national economic policy, one that affects American consumers and businesses, was seemingly enacted not for strategic trade reasons, but due to a bruised ego or an unfavorable impression of someone’s conversational style. This raises significant questions about the rational basis for such actions, especially when emergency powers are involved, powers that are supposed to be reserved for genuine national security threats.… Continue reading
Despite a January 2024 letter, highlighted by Eleanor Mueller of Semafor, that clearly states tariffs are inflationary and would strengthen the dollar, a key figure claimed such a document did not exist. In the letter, it was argued that Donald Trump’s intention to weaken the dollar was to foster US manufacturing competitiveness. Attempts were made to dismiss this conflicting evidence, with a subsequent assertion that any prior statement regarding tariffs being inflationary was mistaken, all while the average American continues to bear the brunt of economic impacts from tariff policies.
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US producer prices post biggest gain in five months, and it’s clear that businesses are passing on tariffs. The recent data, with the Producer Price Index (PPI) jumping significantly, tells a story about rising costs that are ultimately being borne by consumers like you and me.
We’re all feeling the pinch, aren’t we? Tariffs, which are essentially taxes on imported goods, are a major contributing factor. And while there might have been promises of tax relief, the reality seems to be different. Many people are reporting that their tax bills are the same, or even higher, when factoring in the impact of these tariffs.… Continue reading
President Trump has announced the decertification of all Canadian-made aircraft, threatening a 50% tariff on them until American-made Gulfstreams are certified in Canada. This decision specifically targets the Bombardier Global Express and other Canadian-made planes, potentially affecting US airlines that use CRJ regional jets made by Bombardier. Experts caution that this action could disrupt the US air travel system significantly, causing widespread chaos if regional jets used on feeder flights are grounded. The legality of Trump’s actions and the potential impact on air travel remain uncertain, as the White House has not yet issued an executive order.
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Former U.S. President Donald Trump has threatened to impose a 50% tariff on Canadian aircraft and “decertify” specific Bombardier jets, alleging Canada is unfairly blocking the certification of U.S.-based Gulfstream jets. This escalation follows Prime Minister Mark Carney’s speech at the World Economic Forum, which was perceived as a rejection of U.S. foreign policy. Trump has also threatened 100% tariffs on Canadian goods if Canada makes a deal with China. U.S. Treasury Secretary Scott Bessent has cautioned Prime Minister Carney against “picking a fight” regarding the U.S.-Mexico-Canada Agreement (USMCA).
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Matt Underwood 
John Q. Hosedrinker