The majority of the sweeping tariffs Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds.
That potentially dramatic turn in the tariff saga comes after a federal appeals court ruled on Friday that Trump unlawfully leaned on the International Emergency Economic Powers Act (IEEPA) to impose across-the-board duties on countries.
Trump had used those powers to push import tax rates as high as 50% on India and Brazil – and as high as 145% on China earlier this year.
Not only will the consumers never see a dime of any of the money if it’s refunded, the companies aren’t going to lower prices because you’ve already absorbed the price shock.
Ianal, I really hope there is some sort of class action that can be done to force companies to pass that back to consumers.
It should be easy enough to pass through to all the electronic pay methods.
Or force markup items to all be put on massive sale until an equal amount has been sold to make up the sales at markup.
There are no perfect solutions, some people will still make out like bandits.
But jfc, just releasing billions to these companies will only benefit the C-Level and maybe some shareholders, the people already benefiting, not the ones feeling the pain.
A class action just passes the money from one elite class (corporations) to another (class action lawyers). Consumers will get a virtual prepaid debit card for $1.97 in 5 years that can’t be spent anywhere because it can’t be used online and it costs $5 to have them mail you a physical card
Should get out guillotines
100% this. Most I’ve ever seen out of a class action is somehwere between $5-$300. That’s after you produce a mountain of receipts and paperwork. Only lawyers get rich.
You could always hire a lawyer of your own and sue the company directly. That’s what someone did to have it become a class action lawsuit. The person who brought the original suit gets a big payout, and the people who did not generally get a much smaller piece of the pie.
Yeah I feel like this was already expected or part of some master plan. The companies didn’t lose because they passed it on to the consumer and then they’re gonna get money on top of it.
OMG stop. We’ve elected conspiracy theorists already and things are going to shit. We need to stop conspiratorial thinking.
Is it really conspiratorial when the Commerce Secretary’s kids are literally selling financial products that pretty much assume the tariffs will be tossed in court? Sure as fuck seems to me like they planned this based on their already existing actions.
https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/
Yes, yes it is. Accusations raised about grand conspiracy between companies and government with zero evidence provided other than “I feel like” is a conspiracy theory.
https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/
So - relevant evidence not just any evidence of anything. Jesus Christ. Evidence of “Crime A” can’t be used to support “Crime B”.
This is what you said. I provided a well sourced article that literally confirms this was expected/planned and you’re claiming that’s not relevant? Yeah, I’m good with not talking to you anymore.
It also gives trump an out from “tarrif checks” he was talking about.
Likely the reason they started talking about those, is anticipation that they may be overturned. Now his supporters will be mad the “deep state” took “their checks” that they were never gonna get.
See: the gas price jump in 2008-ish