Treasury official warns of widespread economic damage if Supreme Court rules against Trump's tariffs

[Zorro]

Source: Yahoo Finance

The Trump administration is warning that if the Supreme Court were to dismantle President Trump's tariffs, it would cause "unnecessary economic pain and hardship," damaging financial markets and confidence.

"To the extent that the policy would be reversed or watered down, that would damage financial markets," Counselor to the Treasury Secretary Joe Lavorgna said this week in an interview with Yahoo Finance. "You've seen record high equity markets, record low credit spreads. You've seen commitments by all different countries and companies to invest in the US.”

"It would damage confidence. The economic system — capitalism — works on confidence," he added.

While economists acknowledge it could lead to greater uncertainty, they and others say the impact of a ruling against Trump could have other impacts — including positive ones.

Read more: https://finance.yahoo.com/news/treasury-official-warns-of-widespread-economic-damage-if-supreme-court-rules-against-trumps-tariffs-190100275.html

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So...according to this administration, the issue is not whether the tariffs are illegal, but the impact on the economy if the tariffs are declared illegal...

[Nictuku]

1. Maybe he should not have done it in the first place?

[NotHardly]

2. Delusional... simply delusional thinking by Republicans

They/Trump opened this can of worms and I for one want to see them eat it all.

[sinkingfeeling]

3. Wouldn't it be like it was before the moron imposed the tariffs? If the Treasury's hurting, rescind the tax cuts .

[GB_RN]

10. With One Exception...

Assuming the SCOTUS rules the invocation of the IEEA as an excuse to toss off tarrifs sans-input/OK from Congress, then they’ll have to figure out how to give all that money back.

That said, you can be sure that the importers will keep every last goddamned penny. Not one red cent will ever come back to those who truly paid the tariffs: The US consumers.

Fucking greedy bastards.

[thesquanderer]

4. Greater uncertainty?? More than Trump changing rules based on his mood?? n/t

[PSPS]

5. LOL. "widespread economic damage?" Hardly. It would be just the opposite.

The stock market already got a big boost merely because it was reported that the SC "seemed skeptical."

[popsdenver]

20. I can only imagine

that if the Tariff's were cancelled, that corporations would not lower the prices back to where they were before the tariff's were put in place.....
So, in some ways, the Corporations would be elated if they were cancelled......they wouldn't have to pay the tariffs and continuing the price, inflated by the tariffs, would give them windfall profits, even above their record profiteering starting in 2024 to make it look like Biden was causing inflation......

In a sense, the Corporations are truly what is running America, especially since the 2010.....Citizens United.....a gift of the USSC to them.

If this continues, it is only a matter of time that the Repubs drop the name United States of America, and declare this country:::

the FASCIST CORPORATE STATES OF AMERICA.........
If you examine the workings and politics of the U.S. closely, you will see that is where we almost are already........

[AZJonnie]

6. There would be nothing stopping Congress from imposing the same tariffs if they deliberate

and determine they make sense to keep. And presumably a bare majority is required, so the GOP could do it on their own.

These tariffs are not in Trump's fucking POWER TO DO, by the Constitution. So, if there are these hugely negative outcomes if they're rescinded, it's all on FUCKFACE for breaking the law in the first place. ENOUGH with his fucking imperial presidency.

[FakeNoose]

8. I'm pretty sure the House would have to pass it first, and they would never pass such a bill

Enough R's have already seen how angry the voters are, and every Representative has to face their voters for re-election next year.

[AZJonnie]

13. So be it. It's their job to decide, not POTUS, that's the important part with where we're at now

Power back in the hands of the people's representatives like the Founders intended, not in the decrepit talons of King Pedonald The First

[Scalded Nun]

7. Hey Trump Treasury official...Go fuck yourself and take your veiled threats with you.

What damages confidence? Waking up every fucking morning realizing there is still a lunatic, sexual abuser, multiple felon, treasonous piece of shit still running our country and our democracy into the ground, being supported by a treasonous GOP supporting his every illegal, illogical, unethical, murderous, fucking stupid and treasonous action and whim.

I must admit it does sort of make me lose confidence.

[C_U_L8R]

9. Don't do the crime if you can't do the time

Don't do it.

[Clouds Passing]

11. A judgement against Dumpy's tariffs would put a dent in his personal finances

[bluestarone]

12. And, here we go AGAIN, HE creates the problem and then,

Oh nowhat are we gonna do? Then wants th SC to bail his ass out. Jesus Christ these fuckers are TERRORISTS, worthless pieces of shit.

[Turbineguy]

14. That way trump can blame the Supreme Court for the economy going south.

[MLWR]

15. It is the job of the SCOTUS to uphold the laws of the land,

not to base decisions based on uncomfortable outcomes.

[travelingthrulife]

23. Apparently, the laws of our land are quite flexible if you are a rich person.

[mahina]

16. One upside, it would make shaking down other countries harder.

Where is that money right now anyway?

[travelingthrulife]

24. Tariff shelf?

They have stolen it all most likely.

[no_hypocrisy]

17. The same old, tired refrain of "Too Big To Fail".

[Ollie Garkie]

18. They live

In a fucking warped alternate universe where white is black and up is down.

[TomSlick]

19. I call BS.

The tariffs are the greater threat to the economy.

[BlueWavePsych]

21. Yup, BS!

[OldBaldy1701E]

22. ""It would damage confidence. The economic system -- capitalism -- works on confidence," he added."

No, it works on delusion.

And, we love it.

[truthisfreedom]

25. No it won't. Just impose a fine on everyone in project 2025

To pay for the losses and we’ll be fully repaid.

Fuck him. He can owe us the money from his personal grifter fortune for the rest of his t**** family’s existence. Put them to work repaying the debt to America.

[Clouds Passing]

26. Widespread damage to the crooks in charge.

[bucolic_frolic]

27. So to beg the question, why didn't the whole system melt down BEFORE Trump tariffs?

I don't use the term often, or this may be the first time, but I do know an asshat when I hear one.

[CanonRay]

28. Setting up to blame SCOTUS for his crash

[Lotusflower70]

29. Oh look

Trump creating problems and trying to look like he is solving them but more than likely will make it worse

[Yo_Mama_Been_Loggin]

30. The idiot has it bass ackwards.

[BurnDoubt]

31. Where was this guy when THE ENTIRE WORLD was saying the Tariff Terror could cause Economic disaster?.