So about those tariffs...

[MNW67]

Who will be getting their money back? Not the consumer. I guess there could be class actions against any retailer who transferred on the tariff, clearly in the marketing or pricing.

Probably nobody!

The Supreme Court chickened out on that point.

But if the tariffs are refunded, it will presumably be the importer who paid it who gets it back.

 

[motorbiking]

Probably nobody!

The Supreme Court chickened out on that point.

But if the tariffs are refunded, it will presumably be the importer who paid it who gets it back.

It would depend. (in order of strength).

e.g.

Example 1:
Bill of sale

Landrover $100,000
Sales tax $10,000
Import Tax $20,000
TOTAL $130,000

Since the Import tax was non payable I'd have a claim for a refund.

Example 2:
Yes sir the price has gone up up because we had to add $20k import tax.

Example 3:
Yes sir it's all because of Trump that the price is $130k.

In example 1 and 2 I'd definitely go after the retailer.

Example 3, I'd be looking to find a lot more evidence.

 

[Odds]

It would depend. (in order of strength).

e.g.

Example 1:
Bill of sale

Landrover $100,000
Sales tax $10,000
Import Tax $20,000
TOTAL $130,000

Since the Import tax was non payable I'd have a claim for a refund.

Example 2:
Yes sir the price has gone up up because we had to add $20k import tax.

Example 3:
Yes sir it's all because of Trump that the price is $130k.

In example 1 and 2 I'd definitely go after the retailer.

Example 3, I'd be looking to find a lot more evidence.

TMW.

 

[MNW67]

It would depend. (in order of strength).

e.g.

Example 1:
Bill of sale

Landrover $100,000
Sales tax $10,000
Import Tax $20,000
TOTAL $130,000

Since the Import tax was non payable I'd have a claim for a refund.

Example 2:
Yes sir the price has gone up up because we had to add $20k import tax.

Example 3:
Yes sir it's all because of Trump that the price is $130k.

In example 1 and 2 I'd definitely go after the retailer.

Example 3, I'd be looking to find a lot more evidence.

I don't think that is how it works.

The purchaser has no legal claim against the retailer in any scenario. They simply paid the retail price in a free market.

The bill of sale would simply say:

Landrover $120,000
Sales tax $10,000
TOTAL $130,000

 

[Brigadier]

And yet inflation stands at 2.4%
I'm not disputing what the fed say, obviously 'some' of the tariffs are going to go to the end user, but how are they running an inflation rate significantly lower than ours.
Higher prices equals inflation.

Something doesn't add up.

Depends what the US use in their "basket", to calculate inflation.

Inflation doesn't tell the whole story re: what the consumer has been putting up with either. If inflation is currently at 2.4% but prices have for example doubled in the previous year, it's just a slight easing of the pain. Not a return to happy days.

 

[MNW67]

Depends what the US use in their "basket", to calculate inflation.

Inflation doesn't tell the whole story re: what the consumer has been putting up with either. If inflation is currently at 2.4% but prices have for example doubled in the previous year, it's just a slight easing of the pain. Not a return to happy days.

There is actually a really interesting inversion going on in the inflation figures in the USA.

That 2.4% figure is CPI.

They have two different measures; CPI and Core PCE. Usually CPI is higher than Core PCE. But a lot of the costs in Core PCE are proving sticky and it is now higher than CPI. This matters because the figure used by the Fed for setting interest rates is Core PCE. The Fed are actually thinking of increasing interest rates, even after the CPI fell to 2.4%, because they can see what is happening to underlying inflation.

Some economists argue that CPI gives too much weighting to used cars because they are not an every day purchase. The price of used cars fell a lot in January, dragging CPI down. But many everyday costs, like health care are still going up.

Goldman Sachs are predicting Core CPE to rise to 3.05% at the same time that CPI fell to 2.4%.

 

[motorbiking]

I don't think that is how it works.

The purchaser has no legal claim against the retailer in any scenario. They simply paid the retail price in a free market.

The bill of sale would simply say:

Landrover $120,000
Sales tax $10,000
TOTAL $130,000

Will Americans get refunds after Trump's tariffs were overturned by the Supreme Court?

While the Supreme Court struck down the Trump administration's emergency tariffs, experts said it could take years for businesses to get refunds.

www.cbsnews.com

 

[fillyboy]

Depends what the US use in their "basket", to calculate inflation.

Hamburgers and Coca Cola of course.

 

[Ihavenojob]

Fascinating

logical

Are you Mr Spock ?

 

[MNW67]

Are you Mr Spock ?

 

[diy_fun_uk]

Who will be getting their money back? Not the consumer. I guess there could be class actions against any retailer who transferred on the tariff, clearly in the marketing or pricing.

Saw Gavin Newsom on the telly box last night saying the cost of tariffs to each American had been $1,700.

As an aside, I can't wait for the midterms to see what voting Americans are making of Trump and his crew.

 

[blup]

Who has done this?

Many times on this forum and beyond.

 

[Vinty]

Were trumps' tariffs working?

Ben Casselman from the NYT explains why they haven't.

Trump shrunk the trade deficit with China, only to increase it with other countries lol.

 

[noseall]

Who has done this?

Trump hornsmokers can't get enough of him...

Even at this early stage of the game, I'd put more trust in him than the Labour Govt and early indications are I'd be correct to do so.

 

[noseall]

Many times on this forum and beyond.

Their hatred for the UK is palpable.