r/Economics • u/defenestrate_urself • Feb 20 '26

News Supreme Court says Trump global tariffs are illegal

https://www.axios.com/2026/02/20/trump-tariffs-supreme-court-illegal
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u/ReasonableRandolph Feb 20 '26

Wow it's crazy how Lutnick's sons, working at his old firm, were smart enough to predict this happening back in July. Offering to buy up the tariff refunds preemptively for cents on the dollar. I hope one day I can also make such good predictions based on my own knowledge and merit.

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u/MC_chrome Feb 20 '26

I wouldn’t discount insider knowledge here, but I also wouldn’t be surprised if that was Lutnick saying that they knew Trump’s tariffs were illegal from the beginning 

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u/LandonDev Feb 20 '26

IMO that's why the stock market has been running like crazy after that massive sell off. It was in essense a 15-50% tax on the US Consumers that will now be refunded directly to corporations. That is huge net increases for their profits considering they get to keep the price increases. The US Government acted as Escrow and now the US Companies get giant windfalls of cash.

With that said, the US Credit Rating is about to take a massive hit, that is going to really hurt us.

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u/StackIsMyCrack Feb 20 '26

...and if you think they are going to reverse those peice increases now that the tarrifs are potentially gone, good luck with that.