3 ways Trump can slap tariffs on China and Mexico
True, the Constitution gives Congress the right to impose tariffs on other Canada Goose Outlet nations. However, several complicated laws have been passed in the last 100 years that delegate that power from Congress to the president.Trump has several options each open to interpretation but canada goose outlet germany here are three key ways canada goose outlet houston he can go after China and Mexico.1. Trump’s biggest weapon: Unlimited tariffs ‘during time of war’Trump could invoke the “Trading with the Enemy Act of 1917” to hit Mexico canada goose outlet ottawa and China with tariffs as high as he wants. Under the law, the president can restrict all types of trade “during time of war.” That definition is very loose though.America doesn’t canada goose outlet boston have to be at war with China canada goose outlet in montreal or Mexico it just has to be “at war” somewhere in the world in order to apply tariffs against China or Mexico. special forces in Syria and Libya would canada goose outlet online store review suffice to meet that requirement for Trump to hit China and Mexico with tariffs.In 1971, President Richard Nixon used this act to impose a 10% import canada goose jacket outlet store tariff (not directed at any particular nation) citing the Korean War, which had ended nearly two decades prior. Technically, America was canada goose outlet uk still in a state of emergency which had not lifted.All to say: the excuse canada goose parka uk of war has very loose meaning canada goose outlet niagara falls for canada goose outlet nyc the President to raise tariffs of any kind.2. Trump’s next best weapon: unlimited tariffs during ‘national emergency’Think that law is too outdated for Trump to use? canada goose outlet toronto factory There’s another the International Emergency Economic Powers Act of 1977. Losing manufacturing jobs to Mexico and China would suffice as one and courts have never rejected a president’s reasoning.”You say ‘it’s an emergency, we’ve lost a lot of jobs and now I’ve got to act. I declare an emergency.’ I think it’s really buy canada goose uk that simple,” says Doug Irwin, a trade expert at Dartmouth. “If he wants to threaten canada goose outlet store new york China or Mexico, he has a lot of leverage.”The big difference between this Act and the one from 1917 is canada goose outlet in chicago that Trump can’t seize assets using this one, but that’s not his aim anyway.This law has been invoked against Nicaragua, Panama, Sierra Leone and Somalia, according to the Peterson Institute of International Economics. It was used canadagooseonline “in circumstances that few observers would characterize as an ‘unusual or extraordinary threat,” says Gary Hufbauer, an economist at PIIE.3. Trump’s limited options: hit specific industries or low tariffs on everyoneTrump can also impose tariffs on everything under another law the Trade Act of 1974, Section 122.Trump just needs to find “an adverse impact on national canada goose coats uk security from imports.” Lost jobs could be an adverse impact.The caveat: canada goose outlet miami The tariff can only be up to 15% on all goods and it’s only good for 150 days. Then Congress needs to approve it. So, it’s a blunt rule that could have a severe short term impact but it expires canada goose jacket outlet uk after five months, unless it is extended by Congress.Trump can also use the Trade Expansion Act of 1962. Ronald Reagan used canada goose outlet store near me this one. It allows Trump to slap targeted tariffs on certain industries, like steel. It’s not as broad, but Trump can raise tariffs as high as he wants on specific things.If tariffs are imposed, what comes next:In short order, if he wants, Trump can raise tariffs of 35% on Mexico and 45% on China. It’s easier for him to go after China first because he would need to tear up NAFTA before he could slap stiff canada goose outlet store uk tariffs on Mexico.
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