Trump announced new import tariffs of up to 15% on goods, which could take effect almost immediately and may raise concerns about overstepping congressional authority.
Former President Donald Trump announced on Saturday via Truth Social that he would be implementing new tariffs on imports, with rates potentially reaching as high as 15%. This decision is based on a rarely used provision of the Trade Act of 1974, specifically Article 122, which allows the president to impose tariffs. However, this measure is temporary and can only last for up to 150 days without Congressional approval for an extension. Trump’s announcement raised eyebrows among commentators who noted that the law does not prohibit him from reintroducing the same tariffs once the initial period expires.
In his statement, Trump suggested that he may also impose additional import fees, casting a further shadow of uncertainty over the timing and scope of these new tariffs. He mentioned that the administration will soon establish and announce legally permissible tariff levels, showcasing a potential strategy to bypass Congress by implementing new tariffs after the initial period is concluded. This could lead to a significant shift in trade relations between the U.S. and its trading partners, intensifying ongoing tensions.
Concerns have been raised over the implications of these tariffs on both domestic and international markets. The previous 10% tariffs were set to be enforced on February 24, but there remains ambiguity regarding their actual implementation. The commentary surrounding Trump's latest move reflects a broader debate about executive power in economic policy and the potential ramifications on U.S. trade dynamics as well as its relationships with other nations.
