Toymaker Gears Up for Supreme Court Fight Over Trump’s Tariffs
View original at finance.yahoo.comToymaker Gears Up for Supreme Court Fight Over Trump’s Tariffs (Bloomberg) — Ask Rick Woldenberg why he’s challenging President Donald Trump’s tariffs at the US Supreme Court, and he might mention a furry unicorn yoga ball…
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We paid a $50,000 penalty for the BubblePlush shipment arriving six hours late before the 50% India tariff took effect
80% confidenceTHE MOST IMPORTANT CASE EVER IS IN THE UNITED STATES SUPREME COURT
80% confidenceHe doesn't personally tell himself he's taking on Donald Trump, but advocating for himself, people who depend on the company, and issues important to every American
80% confidenceExpected tariff bill for 2025 is $20-30 million, far above last year's $2.3 million
80% confidenceTo the president, these cases present a stark choice: With tariffs, we are a rich nation; without tariffs, we are a poor nation
80% confidenceWhen taken all together, Trump's tariffs clearly are a net benefit for the country and for American workers
80% confidenceThe president has no power to impose taxes on American citizens without the authorization of Congress, and tariffs are taxes on American importers
80% confidenceHe expects to incur millions of dollars in legal bills even after accepting contributions from unnamed outsiders
80% confidenceHe won't take help from non-Americans or anyone with political affiliations and is not a front for anyone else
80% confidenceManufacturing overseas reflects longstanding industry practice due to lower labor costs abroad, not because companies don't invest in America
80% confidenceHe doesn't think he will attend oral arguments, reversing himself after suggesting he might watch proceedings in person, to avoid deflecting from the importance of the decision
80% confidenceHe was shocked that those with much more power and money did not step up to challenge the tariffs
80% confidenceThe companies are like itinerant refugees in how they make products, going from jurisdiction to jurisdiction, and no matter what they guess, it seems wrong
80% confidenceThe tariffs have already helped secure multiple trade deals that level the playing field for American workers and industries and are securing trillions in investments to make and hire in America
80% confidenceThe administration has backup plans and the president's trade team is working diligently on contingency plans if tariffs are struck down
80% confidenceTariffs will raise revenue, open up foreign markets, and bring manufacturing jobs back to the US
80% confidence