#ieepa
3 entries with this tag
"I'll Remember Them": Trump Pressures Companies Not to Claim $175 Billion in Tariff Refunds the Supreme Court Says They're Owed
After the Supreme Court struck down Trump's IEEPA tariffs as unconstitutional (6–3), companies are owed up to $175 billion in refunds. Trump is now publicly pressuring them not to claim the money: calling companies that don't seek refunds "brilliant" and warning "I'll remember them." The president is using implicit threats to discourage businesses from exercising a legal right affirmed by the Supreme Court.
Supreme Court Strikes Down IEEPA Tariffs 6-3
The Supreme Court ruled 6-3 that Trump lacked authority to impose tariffs under IEEPA, with Chief Justice Roberts writing he lacked "peacetime authority" to tax. Over $130 billion had already been collected.
Tariff Trade War Economic Damage
Trump's tariffs constituted the largest U.S. tax increase as a percentage of GDP since 1993, costing average households $1,500/year. The U.S. lost the equivalent of 2,800 factories. The Supreme Court ruled his tariff authority was unauthorized.