3 days ago
- Business
- Int'l Business Times
Trump Promises to Refund Companies Who Already Paid Tariffs If Court Rules Them 'Unlawful'
President Donald Trump has pledged to refund U.S. companies that have paid tariffs i they are deemed "unlawful" by the courts.
The promise was made in court filings amid ongoing legal challenges to tariffs imposed by executive orders. The Trump administration argues that the trade deficit presents a national emergency and thus the president has the authority to institute tariffs. The U.S. Court of International Trade disagreed in a ruling that would require the tariffs to be paused.
Lawyers representing the administration quickly filed an appeal, which included a stay request that would allow the tariffs to continue pending appeal. A federal appeals court unanimously ruled to grant the stay.
Typically, courts require assurance that the stay will not harm the other side of the case. To fulfill this expectation, Trump's legal team made a promise: Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. Reuters
CNBC host Lawrence O'Donnell discussed the promise on his show, The Last Word, in a diatribe criticizing Trump's competency and trade policies. He posited that the president may not even be fully aware of what has been promised to business owners impacted by the tariffs, or of the billions he may be required to refund. Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Reuters
In a play on Trump's "Liberation Day" moniker for the day tariffs were enacted, O'Donnell referred to a potential "Refund Day."
"Refund day will be the ultimate humiliation day at the end of Donald Trump's disastrous trade war," he said.
The White House has not responded to O'Donnell or commented on the court documented refund promise.
The case is stayed until June 9th.
Originally published on Latin Times
