Trump moves ahead with tariff plans
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Trump, tariff
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Trump's New Tariffs Shift Focus to Balance of Payments
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Tariff dividend checks were always a long shot, and tariff refund checks aren't likely. But consumers may yet get some of their money back.
Refund rights may depend on filings made within strict deadlines, including protests with U.S. Customs and Border Protection (CBP) and actions in the Court of International Trade (CIT). If a deal is signed or closed while those deadlines are running, one side could lose value simply because no one took responsibility for acting.
Gold rose, lifted by a softer dollar and heightened safe-haven demand amid uncertainty over U.S. tariffs and rising friction between Washington and Tehran.
Anyone who paid the taxes should get reimbursed, but the high court did not address how. Business owners wonder if they'll need lawyers, brokers, money — or luck.
While the SCOTUS Ruling on Tariffs could trigger up to $175 billion in refunds, the consensus is that most retailers will not see these refunds anytime soon.
President Donald Trump on Saturday said that he was hiking his newly-announced global tariff to 15%, less than one day after announcing a 10% worldwide duty
The Supreme Court kneecapped Trump’s tariff authority, ruling last week that he broke the law by using an emergency powers law to impose the levies. Some Republicans want Congress to reauthorize the tariffs by passing a bill through reconciliation,
The Dow Jones Industrial Average slid 821.91 points, or 1.66%, to close at 48,804.06. The S&P 500 dropped 1.04% to 6,837.75, while the Nasdaq Composite declined 1.13% to 22,627.27.