Demands return of $175 billion in 'illegal' tariffs imposed by Trump

Demands return of $175 billion in 'illegal' tariffs imposed by Trump

Three Democratic senators are demanding the return of nearly $175 billion in tariffs imposed by the Trump administration after the US Supreme Court ruled that they were illegal. They have also taken the initiative to introduce a bill on the matter, claiming that the US collected the money through illegal tariffs.

On Monday (February 23), Senators Ron Wyden of Oregon, Ed Markey of Massachusetts and Jeanne Shaheen of New Hampshire are going to introduce a bill that will require the US Customs and Border Protection to return the money within 180 days and pay appropriate interest on that money.

According to the proposed bill, small businesses will be given priority to refund the money and importers, wholesalers and large companies will have to pass the money on to customers.

The total tax refund could be as much as $175 billion, or about $1,300 for the average American household, according to the University of Pennsylvania’s Penn Wharton Budget Model.

But determining the structure of the refund will be difficult. Because the cost of the tariffs has fallen directly on consumers, in many cases importers have borne part of it themselves or passed it on indirectly through the price of goods.

Oregon Senator Wyden said Trump’s illegal tax plan has already caused significant harm to American families, small businesses and manufacturing. They are being hit hard by new tariffs. He stressed that a critical first step to solving this problem is to quickly return the money to small businesses and manufacturers.

Although the bill is unlikely to become law, the fact that Democrats are beginning to exert pressure on public opinion has given hope to the party.

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On the other hand, even after the Supreme Court ruled last Friday, the Trump administration has not shown much interest in returning the tariffs.

After this ruling, ahead of the midterm elections for control of Congress in November, Democrats have begun to tell the public that Trump illegally raised taxes and is now refusing to return the money.

New Hampshire Senator Shaheen said that the first step in offsetting the impact on product prices in the market due to the additional tariffs is to return the tariffs illegally collected by President Trump to the people.