Again, surprising no one who pays attention, Hinderaker fundamentally misunderstands the import of today’s decision. Yawn.
He sniffs that it will have a little practical effect in the short term.
No, John — all we see here today is that Wall Street is far smarter than you, and this Trumpian loss / the result… was well priced in to everyone’s market probability engine.
The refund of these tariffs will be meaningful to the businesses who had to pay them. It will take many months, but we will see significant dislocation due to Trump‘s lunacy. He stole from people and businesses without authority — that’s what’s happened here. Do consider that even just one company, Apple as an example, already paid over $2 billion in his unlawful tariffs. Those public company shareholders (of Apple) are entitled to every bit of it back — plus interest. And their lawyers will go get it. [The only unfortunate thing here is that it can’t be taken directly from Donald Trump’s personal pocket.]
And the European and other partners who made promises to invest in the US may very well no longer do so. And Trump’s bluster this afternoon about imposing all new 10% tariffs everywhere… is just that: he never follows through with this nonsense.
So John, the only thing that is certain from today’s events is that Trump will continue to be a malignant blowhard and a liar.
Cheers.
Powerline Lies... 