If not 100%, maybe 75 or 50% more.
I would be shocked If the status quo remains as is this November. The change in tariff rate may not happen on 11/1, but the extension of current China tariff rates expires on 11/10. And the SC is to hear oral arguments on 11/5, I believe.
Because policy is based on “feelings”, who knows what will happen. Now he's mad at Canada again.
Let’s say the SC says his tariff increases based on IEEPA (emergency act) is unconstitutional. Great- however, that does not mean an immediate refund to all those businesses. In fact the SC could say- going forward you can’t collect tariffs based on the IEEPA rules. But past money collected will not be refunded.
But…… that doesn’t mean the administration can’t just throw these extra tariffs into a section 301 ruling.. this takes more time before it kicks in(60-90 days), but they can do it this way.
-Was this announcement made in time to make the stock markets happy?? Who is getting the rewards of a huge bump in value tomorrow?
My job is in importing - I have seen my company pay MILLIONS of dollars this year to the govt. last year we paid under 400,000.
Before dtj 1.0, we paid less than 200,000 a year.
And yes we raised our prices to cover a share of this increase because our suppliers do NOT, pay the duties.
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