Coca Cola, Disney, Ford, Abbott Labs, Tesla, and Home Depot are among the Thousands of Companies Suing the US Over Tariffs.
About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co , Target Corp, Walgreen Co, and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than $300 billion in Chinese-made goods.
The suits, filed in the U.S. Court of International Trade, named U.S. Trade Representative Robert Lighthizer and the Customs and Border Protection agency and challenge what they call the unlawful escalation of the U.S. trade war with China through the imposition of a third and fourth round of tariffs.
The legal challenges from a wide variety of companies argue the Trump administration failed to impose tariffs within a required 12-month period and did not comply with administrative procedures.
Blown Away By the Number of Cases
The Financial Times cites Nasim Fussell, a lawyer who was the top trade counsel for the Republican-controlled senate finance committee until last month.
“I am completely blown away by the number of cases being filed. I just think the sheer number is very descriptive of the pain that this has caused,” said Fussell
Corporations No Longer Fear the Wrath of Trump
Corporations were once afraid of the wrath of Trump. Not any longer.
Those lawsuits came in the past few weeks.
Trade Wars are Good and Easy to Win
Trade wars are so good and so easy to win that over 3,500 companies filed suit against the US.
In case you forgot, please recall Trump Tweets “Trade Wars are Good and Easy to Win”
That was in 2018. Trump has made zero progress.
On September 29, I noted US Trade Deficit in Goods Swells to a Whopping $82.9 Billion
Also note that with only four months left to go, China is less than a third of the way towards meeting goals Trump insists are on track.
For details, please see How Well is China Honoring Its Trade Deal With Trump?
Mish
Globalists love to whine. China persecutes Christians, Uighurs, and anyone who goes against the CCP, even more than Democrats have done and attempting to do. Free markets are not free when countries are not free. Therefore anything we can do to hamper the CCP is a positive thing. I don’t feel sorry for any of these big corporations who don’t care who is in power as long as they will do their bidding. They have crushed small businesses and entrepreneurs and give preference to communists. We are not a capitalist country, we are a corporatist country. Ugly ugly country.
China and Europe level strong tariffs. So can the US. Mish has forgotten how to make America great again.
It all seems to be falling part for Trump with less than a month to go. No doubt these companies are going to pad Biden’s campaign efforts while we hear the Trump campaign has mismanaged money (what’s new) and is broke.
My question for Trump has always been why, when he had the chance to put America first and build American factories and create American jobs, why did he look to China to manufacture Trump branded projects–which daughter Ivanka did too.
Good leaders lead by example. They don’t use government to punish in order to get a desired government outcome.
China was dying just like Japan did previously, and Vietnam will soon take their place. It’s happening as we speak–tariffs or not.
Tariffs are taxes Americans pay.
Companies like Ford are not benefiting from Trump’s protectionism which favors industrial producers of raw goods and punishes industrial consumers like auto companies. Ironic since Ford benefits handomely from The Chicken Tax, a 25% tariff on light trucks.
Wonder what Ford would say if the solution was to end both both the steel tariffs and the chicken tax
Corporate America at least big companies are all hypocrits
Ford benefits? Note the following article on the lengths that Ford goes to build the Transit Connect overseas while avoiding the full chicken tax:
Ford benefits? Note the following article that describes the effort Ford has put toward avoid the chicken tax while building the Transit Connect overseas:
end the dumb chicken tax. its just a tariff tht winds up in ford’s pocket at the expense of the consumer
Trump did what he thought was good for the US …. Nice try, too late though….How can you stop a globalised, debt driven, financial system undermining, planet destructive, runaway train,heading for the abyss?? YES it will crah eventually, but that may still be years away from now, depending on, when (not if) CBs lose credibility ! Globalisation SUCKS !
Globalization of ideas and inventions is good, it happened throughout history.
Ideologically driven globalization of production is what led to the present disaster in the making, especially if the ideology is crappy or just self-serving.
True, there was also a push from union knuckleheads.
But there are intermediate solutions. Inviting unions into management to solve problems rather than creating ones is one (in advanced, educated societies).
However, the planet destructive, central banking cartel is still a problem.
Yep. The tariffs are ILLEGAL. Just like our economic blockaide of Venezuela and Iran are ILLEGAL. Just like ours and Europe’s economic sanctions on Russia are ILLEGAL.
America thinks it’s “exceptional” and above the law and is completely unreliable. The one nation that never ever honors it’s word or treaties.
I think Trump has the right to do this because the legislature ceded it. The House and Senate need to take this power back or at least scale it back. Trump’s abusing it but I suspect as a court matter Trump wins.
Very dangerous that a single person can interfere with the economy in such a drastic way withot legislative action.
All the authority Trump utilizes is the same that has been utilized for generations by successive presidents. The only difference is that the media elite does not like to be challenged.
trump’s use of tariffs and national security to drive economic policy is unprecedented both in scope and scale
In my view a vote for a third party candidate in this election is not a great idea….We need to be sure to retire this guy and let him play golf as much as he wants. The stakes are pretty high…more than usual.
If electoral reform (e.g., ranked elections) does not make it possible to have more than two parties, nothing will change. Third parties have no chance b/c everybody thinks they’re throwing away their vote by voting in something they can halfway believe in.
They have golf courses in prison?
For those entrenched in the current duopoly, it is never a good time for a third party candidate.
If you are voting for Biden you are voting for Trump and vis versa. All you are seeing in US political discourse today is just really bad theater designed to get you to vote for a political monopoly. If this was not the case there would be more than two candidates from the same monopoly on the debate stage.
If you are voting for Biden you are voting for Trump. They are just two sides of the same coin that is the American political monopoly. That is why there are only two canidates from the same political monopoly on the debate stage. All other canidates are blacklisted in a form of political corruption synonymous with totalitarinism.
In most years I might agree with you. Not this year.