Tariffs

When tariffs hit home 

Last month, a federal appeals court ruled that many of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal. Gulp. The tariffs in question — sometimes called “reciprocal” tariffs — had raised import tax rates up to 50% on India and Brazil and as high as 145% on certain Chinese goods. As a result, American importers paid over $210 billion in these tariffs (as of late August 2025) that courts have deemed invalid. The appeals court stayed the decision to allow the Trump administration time to appeal to the Supreme Court, which it already has. If the Supreme Court declines to hear the case or upholds this decision, allow me to invoke the immortal words of Keith Jackson and state eloquently for the record: “Whoa, Nellie!”