“A panel of federal judges on Wednesday stopped President Trump from imposing some of his most sudden tariffs on China and other US trading partners, and in two cases he had very exaggerated his ability to issue these vast duties under federal law,” he said. New York Times Report.
“The U.S. International Trade Court ruling set a legal battle that could soon reach the Supreme Court, a campaign to win Trump a series of agreements that would turn the country’s trade ties,” he said.
Wall Street Journal: “Congress is usually responsible for tariffs, but has delegated many powers to the president for decades. When he imposed taxes in April, Trump said the ongoing US trade deficit stumbled the economy and caused a national emergency that poses an extraordinary and extraordinary threat.
Paul Krugman“The problem was always clear that Trump’s use of the 1977 International Economic Emergency Rights Act to justify Smoot Holy level tariffs was a massive abuse of power. That is, because unemployment of 4% and inflation of 2.5% is an emergency that justifies a reversal of 90 policy, but I think that’s just not the case anymore.”
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