Took them long enough: Federal trade court blocks Trump from imposing sweeping tariffs under emergency powers law https://apnews.com/article/trump-tariffs-trade-court-0392dbd59f548e49ad4f64254ae3f94a
Well, would you look at that. The US International Trade Court applied a permanent injunction as well. I say good for them. Maybe they should have spent more time developing a plan. From the start, this looked like some grade school project thrown together.
I can only imagine the tantrum that is going to follow this news. Maybe a BIG one Sorry, couldn’t help that little jab.
I guess if the legislative branch wants to sit on its upturned thumb, the judicial branch has to step in. It was clear from the beginning it would be struck down. I'm surprised it got this far. Well maybe not. We are pretty far along in the Anacyclosis model:
Probably one of the reasons some of the countries have just been buying time. I find it to be total incompetence that this wasn’t even considered prior to implementation. You mean nobody in the circle didn’t even remotely consider this possibility? What a complete face plant…lol
The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the judges wrote in their ruling. The judges ordered the challenged tariffs to be “vacated and their operation permanently enjoined.” (CNBC)
Just to keep the thread somewhat updated. If that's even possible with all of this. It is like watching amatuer hour from all sides really. No matter what position you might have.....we are really showcasing ourselves to the rest of the world. https://www.cnbc.com/2025/05/29/blocked-trump-tariffs-trade-court-appeal.html
Supreme Court is going to knock down Judiciary. Scott Bessent FLAMES judges for getting involved and trying to strike down Trump's tariffs. He spells it out perfectly. "It seems highly inappropriate for the judiciary to weigh in here when the Senate had the opportunity to override the president and didn't." "So, in terms of separation of powers, the Senate has chosen not to exercise their powers, and the president absolutely has the right to set the trade agenda for the U.S."
I find it interesting that John Deere is reacting so harshly, as they are one of the nastiest companies in the US in terms of how they treat their customers. JD is literally the reason right to repair legislation exists. It's a pleasure to watch them squirm when they are treated with an iron fist. I can't say I mind it. lol!
I have read a lot about John Deere and the hell they put farmers through. Terrible company. Screw them.
Now we up the ante to 50% on steel. This follows the “deal” on Nippon Steel acquiring US Steel. A “shared partnership” they say. Well, I guess Japan is a better owner option than China. Specific details not so clear….as usual. Probably the best they could do to keep the company in business. Japan will probably eventually fully acquire it down the road at some point.
Speaking of deals….It appears Elon is exiting stage left and leaving his little government appointment. Hmmm….I guess his own critical opinion of the big beautiful bill didn’t go over too well. I give him credit for having the stones to say so though. Even he admits it is a waste of time to try to pull politicians off the spending teat.
Well, as with any appointment there is always something favored at some point with just about any politician. Interestingly enough he spoke out a bit regarding the tariffs a while back during an interview and then a bit more recently being critical of the big bill. I figured it wouldn’t be too long after that. He (Elon) is smart enough to realize that the government is never going to solve the overspending, but I think he thought they might listen to him in some way. It didn’t last long. I suspect some of that will quietly go back to business as usual. The shareholders of his companies are probably glad he is done. It was always going to be a no win situation in my opinion.
The question which remains is, how long will the damage last? Anti-Tesla sentiment continues but is sharply less severe than it was at peak Elon. I have some liberal friends who will probably never buy a Tesla, despite being in the market for an EV. I suspect they are in the minority. My hunch is, Tesla will bounce back 90% and that's already pretty good. Growth can come from new customers in coming years. I've seen a lot of people run their mouth and keyboard to the massive detriment of their business. A good friend went mental in 2008, telling everyone that America would be all over if Obama wins the election. He literally wrote, don't buy from my store if you vote for Obama. He went out of business in 2013, wondering where his customers went. Some of that was the GFC. Some of it was his politics. Im no MBA but i cant imagine a situation in which cutting your customer base in half is a good idea.
My best guess is he let his God complex get the better of him. He forgot he is only one person and, even though he is the richest person on Earth, his lane of influence is only so wide. Even if he went in for purely altruistic intentions (hardly), he was never destined to make a meaningful impact, as there are far too many people happy to spend/take the taxpayer's dime. I think Tesla's days of having dominance are over. I have seen a lot of other EVs on the road. Hyundai Ioniq models are everywhere now. Elon had better pull a rabbit out of his hat soon.
BREAKING: U.S. collected a record-breaking $22.3 billion in tariff revenue in May. https://www.facebook.com/share/v/16XisELrjs/
