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Tariff Man and his tariff plan cause market plunges
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I am. It was defuckinglightful to watch you and GM hitch your wagons to those IEEPA tariffs and deny reality.
There you go again. You grossly distort everything. The only thing I hitched my wagon to in this thread was exposing and highlighting your severe economic illiteracy and inability to debate the pros/cons of tariffs in an intelligent, unbiased way.
Thanks for flashing your TDS in every comment you make.
Rationalize and tell yourself fantasies as needed, Lusty. You're either in or out.
I found this to be a very apt review of Tariffman's tariff tantrum impact. From the initial market plunge, to the first of many TACO's. A trade war with everyone, including uninhabited islands. The IEEPA tariffs you supported were illegal. Cost the U.S. jobs. Didn't lead to a manufacturing renaissance. Had ripple effects across wide swaths of the economy, hurting key sectors and constraining growth. And $166 billion in ill-gotten revenue is the tip of the iceberg of the impact.
Do you see his 122's surviving or similarly being struck down? There are absolutely questions to to their legitimacy.
I'm sure that none of the MAGAs that own small businesses will apply because they believe in tariffs. Just like MAGAs don't want social security, right?
Quote:
After weeks of waiting to hear how — or whether — the U.S. government might refund the tariffs struck down by the Supreme Court, businesses began applying to get their money back on Monday.
Imagine tens of thousands of business owners with their fingers hovering over laptops, ready to enter America's hottest new queue: the U.S. tariff refund portal.
"I sort of took the early-bird-catches-the-worm approach," said Sarah Wells, who logged on 10 minutes before the launch at 8 a.m. Eastern Time.
Wells sells imported backpacks and other products for nursing mothers. She said uploading records of the levies she's paid was "smooth and fast."
Alfred Mai, whose San Francisco firm ASM Games makes card games in China, had a similar experience. He had all the information he needed prepared in advanced and, he says, it took him just about five minutes to submit claims for 17 shipments with tariff fees totally more than $162,000.
I guess I'll hold my breath until I actually see the money deposited into my bank account," he said.
Refunds are expected 60 to 90 days after submitting a request.
Monday marks just the first phase of refunds, so not all the goods imported under the illegal tariffs immediately qualify.
Still, this is a turning point for U.S. importers, who've waited for clarity ever since the U.S. Supreme Court declared most of President Trump's tariffs unconstitutional. The high court did not opine on the process of refunds, and government officials at first suggested the process could prove unwieldy.
"Small businesses organized, spoke out, and won a major victory," said Main Street Alliance, which advocates for U.S. small businesses, in a statement. "Now, the federal government must follow through with a refund process that truly works for Main Street."
U.S. Customs has estimated that it owes a total of $166 billion in tariff refunds, and the agency's legal filings suggest that the initial phase would tackle the majority of affected imports. Last Tuesday, a Customs official told a judge that the vast majority of eligible importers signed up for electronic payments, as the agency is requiring, and that group is owed about $127 billion.
Will consumers see any of that money land in their pockets? Probably not, economics and legal experts say.
The cost of tariffs has been woven into the prices of many products in a way that can make it hard to separate out what customers ultimately paid. Often, manufacturers, suppliers, importers, retailers and shoppers all absorb costs along the way. And with tariffs landing on the heels of historic inflation, companies big and small have argued that they ate much of the cost to avoid spooking shoppers with higher prices.
In fact, many retailers find themselves in a similar quandary because tariff refunds will go to whoever paid the actual customs bill. It's unclear how, or if, the refunds might trickle down to store owners who paid tariff surcharges to their suppliers.
"As a retailer, I didn't pay tariffs directly. However, I did pay them indirectly in the form of higher wholesale prices," said Joe Kimray, owner of B & W Hardware in North Carolina. Most of his products are either made abroad or use imported parts.
"I plan to have conversations with a number of manufacturers and hope that they will do the right thing and share some of the tariff refund money with us," he said. "I don't expect to get a direct refund check from anyone, but it could be even as simple as offering discounts on the wholesale cost of future product purchases."
Shoppers hoping to recoup their own tariff expenses have launched class-action lawsuits against several companies, including Costco and FedEx. The shipping giant has pledged to pass down any refunds it receives. Costco's CEO last month told investors the company would return shoppers' money through "lower prices and better values" and would be transparent about its plans.
U.S. Customs' initial phase of refunds focuses on tariff payments that haven't been finalized because they technically are still under federal review. (Companies typically pay import duties as soon as their goods arrive at the border, but the complete customs review that follows can take nearly a year.) The government will continue to set up its new system, called CAPE, so that it can later refund older, finalized tariff payments.
NPR asked U.S. Customs and Border Protection about the scale of tariff refunds it expects to handle in the first phase, including the volume of claims the agency's new tool is prepared to handle on Monday. A CBP spokesperson in response said that CAPE was developed "to efficiently process refunds" and referred importers and brokers to the agency's updated tariff refund guidance.
Rationalize and tell yourself fantasies as needed, Lusty. You're either in or out.
I found this to be a very apt review of Tariffman's tariff tantrum impact. From the initial market plunge, to the first of many TACO's. A trade war with everyone, including uninhabited islands. The IEEPA tariffs you supported were illegal. Cost the U.S. jobs. Didn't lead to a manufacturing renaissance. Had ripple effects across wide swaths of the economy, hurting key sectors and constraining growth. And $166 billion in ill-gotten revenue is the tip of the iceberg of the impact.
Do you see his 122's surviving or similarly being struck down? There are absolutely questions to to their legitimacy.
It's all so eternally embarrassing that THIS GUY is allowed to run roughshod over our Constitution, the rule of law and the world's economy simultaneously.
Hell doesn't have a place hot enough for this fucking traitorous scumbag moron.
I dropped out of this thread because nobody here can speak economics with me. Now that bam is banned, it's turned into a circle jerk.
Enjoy!
Well, seems you and Bam the only ppl who believe tariffs are good. As far as economics discussions go, those who deny the facts of who pays tariffs need to get some new book learning or ask for a refund on their education tuition. Navarro is one of those morons by the way.
