Tariffs Catch-All

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I think we all know how this ends. I am not a lawyer. I don't think that one needs to be a lawyer to understand the fundamental tenets of our Constitution and founding. The corrupt Supreme Court will come to Trump's defense, thus aiding and abbetting the felon. I want those scoundrels on record for doing so.

I also want the spineless MAGAt party on record here. There is no Republican party anymore, they have all sold their souls to the felon in Chief. I want them to be forced to vote on, and approve of this nonsense, which they would surely do. They have the power to do so (not Trump) so let them have this on their record.
 
nycfan said:
No. Your joke implied I was doing nothing while I was actually subject to intellectual torture.
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IOW, the joke didn't land. The intent was ironic: I knew you were working hard, but the job can seem like doing nothing to people who don't know what's involved. The subtext, perhaps, was that sometimes the work can be so excruciating that staring at the wall might seem wonderful by comparison. I didn't know you were at the moment being tortured, but it is a deal practice after all. Anyway, since your takeaway was completely opposite from what was intended, it's fair to say that the joke sucked and that's why I edited it. Apologies.
 

Trump’s Team Plots Plan B for Imposing Tariffs​

If a court appeal fails, president’s advisers are considering a stopgap tariff regime​


🎁 —> https://www.wsj.com/economy/trade/t...96?st=wFRJus&reflink=mobilewebshare_permalink

“… First, the administration is considering a stopgap effort to impose tariffs on swaths of the global economy under a never-before-used provision of the Trade Act of 1974, which includes language allowing for tariffs of up to 15% for 150 days to address trade imbalances with other countries, the people said. That would then buy time for Trump to devise individualized tariffs for each major trading partner under a different provision of the same law, used to counter unfair foreign trade practices.

That second step requires a lengthy notification and comment process, but is seen by administration officials as more legally defensible than the tariff policy that was found to be illegal this week. The alternative provision has been used many times in the past, including for Trump’s first-term tariffs on China.

…
All of the options under consideration now were discussed in the early weeks of the administration, but officials opted to instead impose tariffs under the International Emergency Economic Powers Act, also known as IEEPA. The law had never been used before to impose tariffs but allowed the administration to move quickly to impose levies on virtually every global trading partner.

In its decision Wednesday, the U.S. Court of International Trade struck down Trump’s use of IEEPA to address trade deficits. In doing so, the court pointed to Section 122, the measure Trump’s team is now weighing as a stopgap policy, saying part of federal law already grants explicit authority to address “large and serious balance-of-payments deficits.” …”
 
Duke Mu said:
Crap. Judges should always default to the Constitution. The onus should be on Trump's attorneys to explain why another fake emergency (creating a real emergency) is compelling.
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This stay is just routine. It will be lifted by early next week.
 

www.cnbc.com

Inflation rate slipped to 2.1% in April, lower than expected, Fed’s preferred gauge shows

The personal consumption expenditures price index was expected to show a 2.2% annual rate in April.
www.cnbc.com www.cnbc.com
Consumer spending, though, slowed sharply for the month, posting just a 0.2% increase, in line with the consensus but slower than the 0.7% rate in March. A more cautious consumer mood also was reflected in the personal savings rate, which jumped to 4.9%, up from 0.6 percentage point in March to the highest level in nearly a year.

Personal Income and Outlays, April 2025 | U.S. Bureau of Economic Analysis (BEA)

Personal income increased $210.1 billion (0.8 percent at a monthly rate) in April, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $189.4 billion (0.8 percent) and personal...
www.bea.gov www.bea.gov
Personal income increased $210.1 billion (0.8 percent at a monthly rate) in April, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $189.4 billion (0.8 percent) and personal consumption expenditures(PCE) increased $47.8 billion (0.2 percent).

Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $48.6 billion in April. Personal savingwas $1.12 trillion in April and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.9 percent.


The increase in current-dollar personal income in April primarily reflected increases in government social benefits to persons and in compensation.

The $47.8 billion increase in current-dollar PCE in April reflected an increase of $55.8 billion in spending on services that was partly offset by a decrease of $8.0 billion in spending for goods.
  • The increase in compensation was led by private wages and salaries, based on data from the Bureau of Labor Statistics (BLS) Current Employment Statistics (CES). Wages and salaries in services-producing industries increased $53.1 billion. Wages and salaries in goods‑producing industries decreased $3.1 billion.
 
nycfan said:
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Alicia Silverstone Cherilyn Horowitz GIF by filmeditor
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To be clear, I find it easy to believe that China is reneging on trade agreements. I actually would be surprised if they didn’t slow-walk and otherwise do everything they could to limit compliance with a trade agreement so long as they maintain some plausible (by CCP standards) deniability.

I am just not sure I believe that is the reason Trump had an about face on China trade this morning.

It’s tough to know what to believe when both parties lie as they breathe.
 
Bessent and Trump seem to be in lockstep here. Present scary, bad news, impact stock market, set up next Taco Trade. Ca-ching $$$.

Seems to be a recurring theme, wash, rinse, repeat.
 
Kraftyheel89 said:
Bessent and Trump seem to be in lockstep here. Present scary, bad news, impact stock market, set up next Taco Trade. Ca-ching $$$.

Seems to be a recurring theme, wash, rinse, repeat.
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Except it is getting less and less profitable. Markets are barely moving after these announcements.

I am a bit concerned that the TACO thing is hurting Trump's fragile ego and he'll do whatever he can to invalidate that moniker. He would put his ego above our country.

He also is a true believer in tariffs. He probably blames his advisors for the TACO thing.
 
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