Bessent expects Supreme Court to uphold legality of Trump's tariffs but eyes Plan B | Crypto Craft

  • Bessent expects Supreme Court to uphold legality of Trump's tariffs but eyes Plan B

    From cnbc.com

    U.S. Treasury Secretary Scott Bessent on Monday expressed confidence that the Supreme Court will uphold President Donald Trump’s use of a 1977 emergency powers law to impose sweeping tariffs on most trading partners, but said the administration has a backup plan if it does not. Bessent told Reuters he was preparing a legal brief for the U.S. solicitor general, who will oversee the government’s appeal to the Supreme Court, that will underscore the urgency of addressing decades of trade imbalances and stopping the flow of deadly fentanyl into the United States. A divided U.S. appeals court ruled on Friday that most ... (full story)

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Polimini
Sep 2, 2025 3:04am
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Quoting donjovi
'China, he said, would struggle to find sufficient markets for its goods outside the United States, Europe, and other English-speaking countries. “They don’t have a high enough per capita income in these other countries,” he said.' And there is the main issue. The US has trade imbalances with most countrie because it has a high per capita income, it can afford to make these purchases. What the US should concentrate on is lowering its national debt but even that is forecast to rise by $3 trillion under the present administration. The feel good factor...
The US is also holding on to ther "per capita income" because everyone lets them. What happens if everyone abandons the usd as reserve currency?
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Polimini
Sep 2, 2025 1:28am
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what a clown
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donjovi
Sep 2, 2025 2:30am
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'China, he said, would struggle to find sufficient markets for its goods outside the United States, Europe, and other English-speaking countries. “They don’t have a high enough per capita income in these other countries,” he said.'
And there is the main issue. The US has trade imbalances with most countrie because it has a high per capita income, it can afford to make these purchases. What the US should concentrate on is lowering its national debt but even that is forecast to rise by $3 trillion under the present administration. The feel good factor that GOP gives to the US has always been funded by increasing the national debt with the biggest offender being Reagan who increased it by approx 180%.
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Trader#96E2
Sep 1, 2025 11:15pm
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This tariffs sitcom is getting funnier and funnier. Honestly I'm very suprised how ridiculous the propaganda can be. But well - quality of audience defines a quality of message.
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