NakedHunterBiden
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Trump’s tariffs could tank the economy. Will the Supreme Court stop them?
President-elect Trump is his own worst enemy, unless his fellow Republicans on the Supreme Court intervene.
www.vox.com
After winning the 2024 election in part due to high inflation early in President Joe Biden’s term, President-elect Donald Trump wants to enact policies that would lead to the very same kind of inflation that doomed Democrats.
Though Trump inherits a strong economy and low inflation, he’s proposed a 10 to 20 percent tariff on all imports, and a 60 percent tariff on all imports from China. The Budget Lab at Yale estimates that this policy alone could raise consumer prices by as much as 5.1 percent and could diminish US economic growth by up to 1.4 percent. An analysis by the think tank Peterson Institute for International Economics, finds that Trump’s tariffs, when combined with some of his other proposals such as mass deportation, would lead to inflation rising between 6 and 9.3 percent.
If Trump pushes through his proposed tariffs, they will undoubtedly be challenged in court — and, most likely, in the Supreme Court. There are no shortages of businesses that might be hurt financially by these tariffs, and any one of them could file a lawsuit.
That raises a difficult question: Will this Supreme Court permit Trump to enact policies that could sabotage his presidency, and with it, the Republican Party’s hopes of a political realignment that could doom Democrats to the wilderness?
The legal arguments in favor of allowing Trump to unilaterally impose high tariffs are surprisingly strong. Several federal laws give the president exceedingly broad power to impose tariffs, and the limits imposed by these statutes are quite vague.