The majority of the sweeping tariffs Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds.
That potentially dramatic turn in the tariff saga comes after a federal appeals court ruled on Friday that Trump unlawfully leaned on the International Emergency Economic Powers Act (IEEPA) to impose across-the-board duties on countries.
Trump had used those powers to push import tax rates as high as 50% on India and Brazil – and as high as 145% on China earlier this year.
Well, yeah…
That’s like “dollars to doughnuts” became a thing when a dollar bought a dozen doughnuts. Now you can’t buy a single doughnut for a dollar.
But idioms still remain in the original meaning despite them not making sense.