The president unveiled the plan shortly after the justices outlawed most of the global tariffs the White House announced last year.

In a 6-3 decision, the court held that the president had overstepped his powers.

The decision was a major victory for businesses and US states that had challenged the duties, opening the door to potentially billions of dollars in tariff refunds, while also injecting new uncertainty into the global trade landscape.

Speaking from the White House on Friday, Trump indicated that refunds would not come without a legal battle, saying he expected the matter to be tied up in court for years.

He also said he would turn to other laws to press ahead with his tariffs, which he has argued encourage investment and manufacturing in the US.

“We have alternatives – great alternatives and we’ll be a lot stronger for it,” he said.

The court battle was focused on import taxes that Trump unveiled last year on goods from nearly every country in the world.

The tariffs initially targeted Mexico, Canada and China, before expanding dramatically to dozens of trade partners on what the president billed as “Liberation Day” last April.

The White House had cited a 1977 law, the International Emergency Economic Powers Act (IEEPA), which gives the president power to “regulate” trade in response to an emergency.

But the measures sparked outcry at home and abroad from firms facing an abrupt rise in taxes on shipments entering the US, and fuelled worries that the levies would lead to higher prices.

Arguing before the court last year, lawyers for the challenging states and small businesses said that the law used by the president to impose the levies made no mention of the word “tariffs”.

They said that Congress did not intend to hand off its power to tax or give the president an “open-ended power to junk” other existing trade deals and tariff rules.

In his opinion, Chief Justice John Roberts, a conservative, sided with that view.

“When Congress has delegated its tariff powers, it has done so in explicit terms and subject to strict limits,” he wrote.

“Had Congress intended to convey the distinct and extraordinary power to impose tariffs, it would have done so expressly, as it consistently has in other tariff statutes.”

The decision to strike down the tariffs was joined by the court’s three liberal justices, as well as two justices nominated by Trump: Amy Coney Barrett and Neil Gorsuch.

Three conservative justices, Clarence Thomas, Brett Kavanaugh and Samuel Alito, dissented.

At the White House, Trump said he was “absolutely ashamed” of the Republican appointees on the court who voted against his trade policy.

He said they were “just being fools and lap dogs” and were “very unpatriotic and disloyal to our Constitution”.

Shares on Wall Street rose after the announcement, with the S&P 500 closing up about 0.7%, as businesses across the US cautiously welcomed the ruling.

“I feel… like a thousand-pound weight has been lifted off my chest,” said Beth Benike, the owner of Busy Baby products in Minnesota, which manufactures products in China.

Nik Holm, chief executive of Terry Precision Cycling, one of the small businesses involved in the case, called the ruling a “relief”.

“Though it will be many months before our supply chain is back up and running as normal, we look forward to the government’s refund of these improperly-collected duties,” he said.

The anticipated refunds and relief from tariff costs may prove elusive, however.

On Friday, Trump signed a proclamation imposing the new 10% tariff under a never-used law known as Section 122, which gives the power to put in place tariffs up to 15% for 150 days, at which point Congress must step in.

It will go into effect on 24 February.

The order states a variety of exemptions, including certain minerals, natural resources and fertilizers; some agricultural products like oranges and beef; pharmaceuticals; some electronics and certain vehicles.

For many of the categories of exempt goods, the order is broad and does not specifically say what items might be exempt.

Canada and Mexico will retain an exemption under a North American free trade pact, the USMCA, on tariffs covering a vast majority of goods.

A White House official said countries that struck trade deals with the US, including the UK, India and the EU, will now face the global 10% tariff under Section 122 rather than the tariff rate they had previously negotiated.

The Trump administration expects those countries to keep abiding by the concessions they had agreed to under the trade deals, the official added.

Analysts expect the White House to also consider other tools, such as Section 232 and Section 301, which allow import taxes to address national security risks and unfair trade practices.

Trump has previously used those tools for tariffs, including some announced last year on sectors such as steel, aluminium and cars. Those were untouched by the court ruling.

“Things have only gotten more complicated and more messy today,” said Geoffrey Gertz, senior fellow at the Center for a New American Security in Washington.

Reaction by major trade partners was relatively muted.

“We take note of the ruling by the U.S. Supreme Court and are analysing it carefully,” European Commission spokesman Olof Gill wrote on social media.

Trump lashes out at Supreme Court justices over tariffs ruling

The US has already collected at least $130bn in tariffs using the IEEPA law, according to the most recent government data.

In recent weeks, hundreds of firms, including retailer Costco, aluminium giant Alcoa and food importers like tuna fish brand Bumble Bee, have filed lawsuits contesting the tariffs, in a bid to get in line for a refund.

But the decision by the majority does not directly mention refunds, likely handing back the question of how that process might work to the Court of International Trade.

In his dissent, Justice Brett Kavanaugh warned the situation would be a “mess”.

Diane Swonk, chief economist at KPMG US, warned that the cost of litigation could make recouping funds difficult for smaller firms.

“Unfortunately, I’d say curb your enthusiasm, although I understand the desire for relief,” she said.

Steve Becker, head of the law firm Pillsbury, said the “best thing” for businesses would be if the government created a procedure that did not require filing a lawsuit.

“I think companies can be fairly confident that they’ll get their money back eventually,” he added. “How long it will take really is up to the government.”

Source: BBC

READ ALSO: 

Closure: Kogi schools resume Monday

Lagos: APC screens 540 aspirants for Saturday’s LGA congress

Super Eagles set for Iran, Jordan test in Amman Invitational

INTIMATE AFFAIR: Is he a crown or fake bling-bling?

PSC promotes AIG Fayoade Mustapha to DIG

Fire razes 100 stalls at Dakata industrial complex in Kano

How Navy Secondary School Ojo Class of 2006 honoured teachers

Abducted 12-year-old student: Family holding back despite investigation -Police

Open letter to the Nigerian voting public, By Bisi Adegbuyi

DSS gets date to arraign El-Rufai over alleged cybercrime, breach of national security

The post Trump brings in new 10% tariff as Supreme Court rejects his global import taxes appeared first on Frontpageng.

The decision, according to the national organizing secretary of the party, Col. Austin Akobundu (rtd), was predicated on certain unforeseen circumstances that would likely affect the conduct of the congress.

He said the NWC urged all critical stakeholders, leaders and members of the party in the North West and across the country to take note as a new date would be announced in due course.

The post PDP postpones North West zonal congress appeared first on Frontpageng.

This comes after months of supremacy tussle over the leadership of the PDP in the South-West.

Fayose had, while addressing the delegates at the WOCDIF Centre, Osogbo venue of the South-West PDP Zonal Congress, added that supporters should not be allowed to drive a wedge between the leaders.

He added that he would readily accept the leadership of Amb. Taofeek Arapaja if he won the election.

A statement by the Special Assistant (Print Media) to Governor Makinde, Moses Alao, indicated that the governor, while also addressing delegates at the venue of the congress declared that there would be no victor or vanquished in the election.

He further declared the process was a family affair of the PDP.

Governor Makinde added that whatever the outcome of congress was, it would be accepted in the spirit of a family contest.

He maintained that the Congress was an attempt to reposition the South-West PDP, though it had ramifications for the party nationally.

“This is an attempt to reposition our party in the South-West. But it has ramifications for our party nationally. So, whatever the outcome is, we will take it in the spirit of a family contest.

“We don’t want to defeat ourselves but we want to defeat the APC. So, at the end of this exercise, I promise you that there will be no victor and no vanquish.

“As your only Governor in this zone, whoever emerges belongs to me and I will work with the team to reposition our party in the South-West.

“So, let me thank you ahead for a peaceful and orderly conduct,” Governor Makinde said.

In his speech, shortly before the commencement of, Fayose publicly accepted Makinde’s leadership of the PDP in the zone, adding that the governor had been making impact in Oyo State and that he would not fail.

He said: “Thank you for the endurance and tolerance we have all gone through. The issue of this congress is a circumstantial one, which is still in the public domain. Who is the leader? Governor Seyi Makinde is our leader.

“Therefore, we should not allow, particularly those who are our supporters and lovers, continue to put a wedge in between us. Our leaders; Governors Oyinlola, Oni and former Deputy Senate Majority Whip and all serving senators, I want to assure you that we will make exploits together because this must not divide us.

“I stand here to tell you today that either way it goes, I will accept it. Therefore, if Arapaja becomes chairman, I will be the first to visit him in Ibadan because there is nothing that will last forever.

“Nobody has offended me and if I have offended anybody, I sincerely apologise.

“Don’t let them give us the name we do not bear in Yorubaland.

“I want to say again that Governor Seyi Makinde has made impact in Oyo State and he won’t fail. Seyi Makinde and I are one. No matter what, he is our father and may God continue to do wonders through him.”

The post Congress: Makinde is our father, leader in S/West PDP, Fayose declares appeared first on Frontpageng.

Lawmakers resumed the session after police managed to remove the mob, which had been encouraged by President Donald Trump in a bid to overturn his defeat.

The certification clears the way for Mr Biden to be sworn in on 20 January.

In response, Mr Trump finally pledged an “orderly transition” of power.

Democrat Joe Biden’s victory was confirmed at about 03:30 local time (08:30 GMT) on Thursday by a joint session presided over by Vice-President Mike Pence, who said the violence had been a “dark day in the history of the United States Capitol”.

Wednesday’s chaotic scenes followed months of escalating rhetoric from Mr Trump and some Republican allies that sought to undermine the result of the 3 November election.

The invasion of the Capitol by the president’s supporters – some armed – was an event without precedent in modern American history.

Mr Biden blasted the “insurrection” as Mr Trump, while telling the mob to “go home”, continued to make false claims of electoral fraud. The outgoing president’s Twitter and Facebook accounts were later frozen.

After objections by some Republican lawmakers to overturn the result in Arizona and Pennsylvania were rejected, Congress formally certified the final electoral college vote with Mr Biden receiving 306 votes to Mr Trump’s 232.

Shortly afterwards Mr Trump – whose social media accounts remain blocked – said in a statement: “Even though I totally disagree with the outcome of the election, and the facts bear me out, nevertheless there will be an orderly transition on January 20th.”

Meanwhile, Washington DC Mayor Muriel Bowser said one of the four dead – a woman – was part of a group that forced entry into the House room while it was still in session.

They were confronted by plainclothes officers, and an officer pulled out a weapon and fired it.

The woman was taken to hospital and later proclaimed dead.

She has not been officially named, but local media identified her as San Diego-area US Air Force veteran and Trump supporter Ashli Babbit.

One woman and two men died as a result of “medical emergencies”, officials said, without giving details.

At least 14 members of the police were injured during the unrest.

The rampage came as two Democrats won Senate seats in elections in Georgia, which shifted the balance of Congress to their party’s effective political control. This major political victory will ease the passage of Mr Biden’s agenda after he is inaugurated.

Source: BBC

The post Capitol riots: Congress certifies Joe Biden’s victory after violent disruption appeared first on Frontpageng.

In a video message posted on Twitter, Trump alleged that the bill contained “wasteful and unnecessary items”, adding that there was almost nothing about COVID-19 in it.

According to him, the bill contains $85.5 million (N33 billion) for assistance to Cambodia and $134 million (N51,9 billion) to Burma.

The president stated that there was also a provision of $1.3 billion (N504 billion) for Egypt and the Egyptian military.

He said the Egyptian military would use the money to “buy almost exclusively”, military equipment from Russia.

Trump added that $25 million (N9.7 billion) was provided for democracy and gender programmes in Pakistan, and $505 million (N195.9 billion) for Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.

He highlighted the other “unnecessary items” worth billions of dollars to include public facilities in the U.S. such as the National Gallery of Arts which he alleged were not open.

“The bill also allows stimulus checks for the family members of illegal aliens, allowing them to get up to $1,800 (N698,400) each. This is far more than the Americans are given.

“In spite of all these wasteful spending, and much more, the $900 billion package provides hard working tax payers with only $600 (N232,800) each in relief package.

“Not enough money is given to small businesses, and in particular restaurants whose owners have suffered so grievously.

“Congress found plenty of money for foreign countries, lobbyists and special interests, while sending the barest minimum to the American people who need it,” he said.

Trump urged Congress to amend the bill and increase the “ridiculously low” $600 to $2,000 (N776,000) or $4,000 (N1.5 million) for couples.

He also asked the lawmakers to remove the “wasteful and unnecessary items” and send him a suitable bill.

The president said if they failed to do so, then Americans would have to wait for the next administration, which he said might be him, to give them COVID relief package.

Source: NAN

The post Trump rejects $900bn COVID-19 relief bill passed by Congress appeared first on Frontpageng.