Biillions in Trump tariff refunds won’t unwind the damage done
An Australian clothing company, Nashie, recently received a six-figure refund from the US government, including 6% interest, for tariffs it had paid on US imports. It’s just one of thousands of businesses reclaiming tariffs imposed on what President Donald Trump called “Liberation Day.” Of the roughly US$166 billion due to be refunded, more than US$85 billion has already been returned to businesses. But although a US Supreme Court ruling in February reversed the tariffs, much of the economic and political damage, and perhaps some of the Trump administration’s gains, will be hard to undo.
- ▪An Australian clothing company, Nashie, recently received a six-figure refund from the US government, including 6% interest, for tariffs it had paid on US imports.
- ▪It’s just one of thousands of businesses reclaiming tariffs imposed on what President Donald Trump called “Liberation Day.” Of the roughly US$166 billion due to be refunded, more than US$85 billion has already been returned to businesses.
- ▪But although a US Supreme Court ruling in February reversed the tariffs, much of the economic and political damage, and perhaps some of the Trump administration’s gains, will be hard to undo.
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An Australian clothing company, Nashie, recently received a six-figure refund from the US government, including 6% interest, for tariffs it had paid on US imports. It’s just one of thousands of businesses reclaiming tariffs imposed on what President Donald Trump called “Liberation Day.” Of the roughly US$166 billion due to be refunded, more than US$85 billion has already been returned to businesses. But although a US Supreme Court ruling in February reversed the tariffs, much of the economic and political damage, and perhaps some of the Trump administration’s gains, will be hard to undo.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Asia Times.
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