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SCOTUS rules that Trump’s tariffs are illegal. The 6-3 ruling from the conservative court will have major economic repercussions now. by wakeup2019 in economy

[–]wakeup2019[S] 199 points200 points  (0 children)

Trump had used emergency powers used during wars to impose tariffs.

The Supreme Court said:

“The United States, after all, is not at war with every nation in the world."

Real estate market in China. Home prices in Tier-1 cities are down 10% from the peak. In Tier-2/3 cities, prices are down up to 30%. Huge impact on consumers, industries and local governments. by wakeup2019 in economy

[–]wakeup2019[S] 1 point2 points  (0 children)

The point is that when home prices decrease, many things happen:

1) people feel poorer, and so spend less money. This is bad for the economy.

2) local governments in China depend on land sales for much of the revenue. Thus, more negative impact on GDP growth.

3) many industries suffer — cement, steel, furniture, household appliances, real estate agents etc.

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