alt Hacker News"The ruling applies to his so-called "Liberation Day" tariffs, but not individual tariffs he's imposed on specific countries or products " -- So what's gonna happen next?
For countries that negotiated special treatment, they'll be stuck with a (now worse) deal?
For other countries, they'll return to the previous deal (non-tariff)?
Replies
appointment • today at 5:01 PM
As far as I know none of Trump's deals have been ratified by the Senate. None of them are valid.
So I am far from an expert, but I saw that Capital Economics (a Macroeconomic analysis firm) put out a note saying that Trump still had power under Section 122 of the Trade Act of 1974. But there are three catches for that. First, it only lasts for 150 days unless Congress votes to approve them. Second, that it has to apply to all countries equally: meaning that it can't be used to give some countries a break if they sign a deal, so all of the deals are going to be unenforcable on America's end. Third, it caps the tariff rate at 15%.
Like with refunds, this is a mess of Trump's own making, and now we get to figure it out.