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Answer the Popular Questions After the Us Tariffs Were Suspended: What Do the British Think? Can Companies Get Tax Refunds?

jingji05 by jingji05
2025-05-30
in News
Answer the Popular Questions After the Us Tariffs Were Suspended: What Do the British Think? Can Companies Get Tax Refunds?
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The U.S. Court of International Trade delivered a landmark ruling on Wednesday, overturning multiple Trump administration tariffs imposed under national emergency declarations. The court found that the former president exceeded his legal authority by levying duties—including 25% on Canadian/Mexican goods and 20% on Chinese products—under the pretext of combating drug smuggling. The decision nullifies sweeping tariffs affecting over 60 trading partners, from the 10% “universal” levy to reciprocal duties as high as 50%.

Oregon Attorney General Dan Rayfield hailed the verdict as “a victory for working families and small businesses,” emphasizing that the tariffs inflicted “devastating and reckless harm” on the U.S. economy. The ruling reignites debates about presidential trade powers, particularly the use of Section 232 national security provisions to justify broad import taxes. Legal experts note the judgment could constrain future administrations from deploying similar measures without congressional approval.

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The decision deals a blow to Trump’s trade legacy while offering relief to industries that faced retaliatory tariffs. With the Biden administration already reviewing China tariffs, the court’s intervention may accelerate a broader recalibration of U.S. trade policy—potentially easing costs for consumers but complicating efforts to protect domestic manufacturing through executive action.

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  • In the Next Five Years, You Will Be Super-Equipped with Gold and Low-Equipped with Crude Oil 2025-05-30
  • Answer the Popular Questions After the Us Tariffs Were Suspended: What Do the British Think? Can Companies Get Tax Refunds? 2025-05-30
  • Hong Kong Deepens Interaction with Saudi Capital Markets, The First Islamic Treasury Etf Is Listed Today 2025-05-30
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