United States (US) President Donald Trump has said it is unclear whether or when refunds will be issued after the US Supreme Court struck down his sweeping global tariffs, with potential legal disputes expected to last for years. More than $175 billion in tariff collections are now potentially subject to refunds.
Trump also announced plans to impose a new 10% global tariff for 150 days to replace some of the emergency duties that were ruled unlawful. The measure would apply in addition to existing tariffs and is permitted under a statute allowing presidents to impose duties of up to 15% for up to 150 days in response to “large and serious” balance of payments issues.
Illinois Governor has reportedly sent Trump an invoice demanding nearly $9 billion in tariff refunds for families in the state affected by higher consumer prices.
US Senate Minority Leader Chuck Schumer criticised the tariffs, saying they effectively function as a tax on American consumers by driving up living costs. He argued that both the previous and proposed tariffs would increase prices for households across the country.
–ChannelAfrica–
