How Trump’s $150 Billion Tariff Brag Could Backfire

“President Donald Trump boasts that his tariffs have raked in billions. There’s a chance his government will have to pay a lot of it back,” Politico reports.

“Several companies and states have challenged Trump’s use of an emergency law to impose some of his duties on individual countries, in a legal dispute that is likely to work its way up to the Supreme Court. As part of the case, companies have demanded the federal government pay them back for the tariff fees they’ve already paid out.”

“That, trade and customs experts say, would be a logistical nightmare — both for the Trump administration and the companies seeking compensation. Perhaps more damaging for the president, it would also undercut one of the core arguments he’s made to justify his trade agenda: that his tariffs are bringing in unprecedented revenue that can help pay for his tax cuts and, one day, could replace the income tax altogether.”