Trump is forced to withdraw tariffs on the order of the ‘Supreme’, will count the loss of 175 billion dollars!

Donald Trump started the sacrifice to make America great with the tax money collected from other countries. But the Supreme Court of that country has poured water on the will of the US President. The Trump administration is forced to withdraw tariffs on imported goods. According to a statement issued by the Customs Department, tax collection will be stopped from Tuesday. In other words, the duty imposed on India for the ‘crime’ of buying Russian oil will be stopped from Tuesday.

Last Friday, the US Supreme Court ruled that the tariffs imposed by Trump were illegal. After three days passed, the Trump administration did not take action in view of this verdict. A statement was finally issued by the US Customs and Border Protection on Monday. It has been reported that all taxes levied under the International Emergency Economic Powers Act of 1977 or IEEPA will no longer have to be paid. That is, the taxes imposed by Trump on specific countries are closed. But universally levied taxes will still be in effect.

Questions are mounting over US trade deals. Will those like India, who signed the deal after virtually negotiating with Trump, benefit?

In the changed situation, the Trump administration will no longer be able to calculate the tax imposed separately on India. Trump has already imposed a 15 percent tax on goods from all countries in the world. If you want to import goods to America, you have to pay that tax. Officials believe that even if Trump imposes new taxes, he will not be able to avoid huge damage to the US economy. Unconfirmed figures suggest that the US was collecting $500 million a day in tariffs covered by the IEEPA.

Trump Tariffs have been called illegal by the US Supreme Court. So will the Trump administration return the money collected so far? If that happens, then 17 thousand 5 billion dollars will be spent from Trump’s ‘pocket’ just to refund. On the other hand, there are also growing questions about US trade deals. Will those like India, who signed the deal after virtually negotiating with Trump, benefit? The tariffs set in the agreement, or the tariffs imposed universally – which one will the US administration accept? The answer is elusive.