What about the $17 trillion he was claiming he’d made?
FerretWinter7063 on
Didn’t he say these tariffs netted trillions, let’s take him on his word and get paid out for that…where is that stream at now? 🤣
bensquirrel on
This is going to be a net loss in the end. trump needs to be removed from office
heekma on
Bear in mind, there are processes for an individual business to request a refund from CBP for incorrectly applied tariff costs.
Currently there is no process to handle thousands of companies requesting tariff refunds, and they now have 180 days to apply for those refunds.
What could possibly go wrong?
gwsth on
Keep in mind, this money will be refunded to the *corporations.*
The corporations will:
* get refunds for all the tariffs they paid, whether or not they passed those costs onto consumers. Most companies did.
* continue to keep prices at post-tariff levels. Corporations base pricing on “what the market will bear”, even if by force. People have paid the new price for these goods, which means the market will “bear” it, regardless of the reason why. Therefore, the new prices stay.
* simply turn those tariff-based increases into corporate profits.
The people:
* watched as the price of essential goods skyrocketed as the tariff costs were passed on to them, either directly or indirectly.
* will receive virtually none of the refunds (outside of maybe a few individuals who file for their own refunds. 99.99% won’t), even though they were the ones that paid for everything in the end.
* will continue to pay the post-tariff prices.
And the reason for this is simple. Technically, the people never paid a dime in tariffs. The people paid for goods at a price set by the corporations, and tariffs are only one of many things that may or may not have factored into the price. Yes, the reality of the situation and common sense tell you that the people are the ones that ultimately paid in the end. But the law doesn’t care about common sense. It cares about legal technicalities. And technically, most people never paid a dime in tariffs. They paid corporations, who paid tariffs.
Regardless, no matter how you slice it, this is essentially going to be an upward transfer of about $130 billion in wealth from the citizens to the corporations based as a result of bad geopolitics and legal technicalities.
Gustheanimal on
Howard nutlick won. Who would have thought the commerce guy knew what was coming? You’re a joke America, become respected again
TheBodhiwan on
To consumers right? /s
wfriedma on
“Just check the tariff shelf”
mjconver on
We poor normies are going to pay twice for this tarriff shit
Agent-Adept on
Trump might actually understand tariffs after all. It was/is a way to make the rich and the corporations richer.
He applied the tariffs. Imported items cost more. The corporations passed the tariff costs on to us. The tariffs are ruled illegal. The government refunds the corporations who paid the tariffs. The corporations keep the refunds and keep the inflated prices. The rich get richer. We don’t get a thing.
OlentangySurfClub on
So companies that raised prices to pay for tariffs will now get that money back. And they’ll refund the customers for the price hikes? Right?
YesterShill on
This is why electing a felon is a bad idea.
The felon will continue to do illegal crap and cause chaos that helps no one.
128-NotePolyVA on
If the administration appeals to delay payout, what do they hope to gain by waiting?
legit_doom_scroller on
MAGA gonna love that! lol. God I hope they have better memory capacities than fruit flies.
I know they don’t.
Diced_and_Confused on
It’s Judge Reinhold, right?
Ol_Turd_Fergy on
The corporations will get refunds, and the rest of us will get to go fuck ourselves
100_Flatout on
Wtf?????? So we paid the tariffs and our tax money go to the companies again???? We double paid the tariffs????? How is this even legal?
spanieldors on
I bought things that FedEx charged me to cover the cost of tariffs as well as brokerage fees. When they get reimbursed for those tariffs, are they going to send me a reimbursement?
ChatamKay on
Winning. Winning so much they’ll ask to stop winning.
availablelol on
It should go straight to the consumers. Companies did not absorb it!
OilUnusual8809 on
ummm someone owes me a couple milly
Bogey_Yogi on
To whom? He has been saying that the foreign companies have been paying the tariffs. So, refund should go to them, right?
spacelad6969 on
So they’re “refunding” our tax dollars to corporations who already made killer profits on top of this? This gotta be the biggest heist in American history.
commanderclif on
So I submit my receipts to who?
FakeFrivolity on
Can we all sue the government in a class action lawsuit for the raised prices we’ve paid due to tariffs?
thinpile on
So where’s the money right now?
Appropriate-Gur-6343 on
Wipe the tariff shelf clean.
just4udil on
What about the consumers who actually paid those to these corporations. Will we get those back?
peanut--gallery on
I figure the tariffs cost me at least a couple thousand dollars in the past year. Where do I send my self addressed stamped envelope for them to put my refund check in?
ImRudyL on
That’s great for the corporations, who passed the costs on to us. How do WE get the refunds, which entirely belong to us?
General_Specific on
At least a million of that is mine based on my Amazon spending.
DoctorTurkletonsMole on
What happened to the other eleventy-trillion that Donnie boy has been squawking about?
inteligent_zombie20 on
How much of this goes back to the consumers who paid for these tariffs ?
Companies raised prices .. those prices won’t be going down and then they get a stimulus check back
How American
Sharp-Calligrapher70 on
Where are all of the “Taxation is Theft” people? They’re being awfully quiet lately.
zmunky on
Where’s my refund?
steelmanfallacy on
Wait didn’t China pay the tariffs so isn’t China getting their money back? /s
Joneboy39 on
its going to get sent back to the consumer right??
gamerjerome on
To the people right?
CherryLongjump1989 on
Can’t do it, the money’s in Trump’s Qatari bank account they’re under an Iranian missile attack.
WiglyWorm on
Not to you and me btw
rubio2k13 on
Can we sue as a regular citizen for a refund as well?
Stunning-Chipmunk243 on
Great day to be a Lutnick
ReasonablyConfused on
Please please, one company lower prices until the tariff has been effectively refunded. Make a big splash about it and shame other companies for not.
I don’t care what you sell, I’ll buy it just to support you.
43 Comments
What about the $17 trillion he was claiming he’d made?
Didn’t he say these tariffs netted trillions, let’s take him on his word and get paid out for that…where is that stream at now? 🤣
This is going to be a net loss in the end. trump needs to be removed from office
Bear in mind, there are processes for an individual business to request a refund from CBP for incorrectly applied tariff costs.
Currently there is no process to handle thousands of companies requesting tariff refunds, and they now have 180 days to apply for those refunds.
What could possibly go wrong?
Keep in mind, this money will be refunded to the *corporations.*
The corporations will:
* get refunds for all the tariffs they paid, whether or not they passed those costs onto consumers. Most companies did.
* continue to keep prices at post-tariff levels. Corporations base pricing on “what the market will bear”, even if by force. People have paid the new price for these goods, which means the market will “bear” it, regardless of the reason why. Therefore, the new prices stay.
* simply turn those tariff-based increases into corporate profits.
The people:
* watched as the price of essential goods skyrocketed as the tariff costs were passed on to them, either directly or indirectly.
* will receive virtually none of the refunds (outside of maybe a few individuals who file for their own refunds. 99.99% won’t), even though they were the ones that paid for everything in the end.
* will continue to pay the post-tariff prices.
And the reason for this is simple. Technically, the people never paid a dime in tariffs. The people paid for goods at a price set by the corporations, and tariffs are only one of many things that may or may not have factored into the price. Yes, the reality of the situation and common sense tell you that the people are the ones that ultimately paid in the end. But the law doesn’t care about common sense. It cares about legal technicalities. And technically, most people never paid a dime in tariffs. They paid corporations, who paid tariffs.
Regardless, no matter how you slice it, this is essentially going to be an upward transfer of about $130 billion in wealth from the citizens to the corporations based as a result of bad geopolitics and legal technicalities.
Howard nutlick won. Who would have thought the commerce guy knew what was coming? You’re a joke America, become respected again
To consumers right? /s
“Just check the tariff shelf”
We poor normies are going to pay twice for this tarriff shit
Trump might actually understand tariffs after all. It was/is a way to make the rich and the corporations richer.
He applied the tariffs. Imported items cost more. The corporations passed the tariff costs on to us. The tariffs are ruled illegal. The government refunds the corporations who paid the tariffs. The corporations keep the refunds and keep the inflated prices. The rich get richer. We don’t get a thing.
So companies that raised prices to pay for tariffs will now get that money back. And they’ll refund the customers for the price hikes? Right?
This is why electing a felon is a bad idea.
The felon will continue to do illegal crap and cause chaos that helps no one.
If the administration appeals to delay payout, what do they hope to gain by waiting?
MAGA gonna love that! lol. God I hope they have better memory capacities than fruit flies.
I know they don’t.
It’s Judge Reinhold, right?
The corporations will get refunds, and the rest of us will get to go fuck ourselves
Wtf?????? So we paid the tariffs and our tax money go to the companies again???? We double paid the tariffs????? How is this even legal?
I bought things that FedEx charged me to cover the cost of tariffs as well as brokerage fees. When they get reimbursed for those tariffs, are they going to send me a reimbursement?
Winning. Winning so much they’ll ask to stop winning.
It should go straight to the consumers. Companies did not absorb it!
ummm someone owes me a couple milly
To whom? He has been saying that the foreign companies have been paying the tariffs. So, refund should go to them, right?
So they’re “refunding” our tax dollars to corporations who already made killer profits on top of this? This gotta be the biggest heist in American history.
So I submit my receipts to who?
Can we all sue the government in a class action lawsuit for the raised prices we’ve paid due to tariffs?
So where’s the money right now?
Wipe the tariff shelf clean.
What about the consumers who actually paid those to these corporations. Will we get those back?
I figure the tariffs cost me at least a couple thousand dollars in the past year. Where do I send my self addressed stamped envelope for them to put my refund check in?
That’s great for the corporations, who passed the costs on to us. How do WE get the refunds, which entirely belong to us?
At least a million of that is mine based on my Amazon spending.
What happened to the other eleventy-trillion that Donnie boy has been squawking about?
How much of this goes back to the consumers who paid for these tariffs ?
Companies raised prices .. those prices won’t be going down and then they get a stimulus check back
How American
Where are all of the “Taxation is Theft” people? They’re being awfully quiet lately.
Where’s my refund?
Wait didn’t China pay the tariffs so isn’t China getting their money back? /s
its going to get sent back to the consumer right??
To the people right?
Can’t do it, the money’s in Trump’s Qatari bank account they’re under an Iranian missile attack.
Not to you and me btw
Can we sue as a regular citizen for a refund as well?
Great day to be a Lutnick
Please please, one company lower prices until the tariff has been effectively refunded. Make a big splash about it and shame other companies for not.
I don’t care what you sell, I’ll buy it just to support you.