122, 232, 301, 338: The numbers key to Trump’s tariff revival
CNN
No matter the outcome of a major legal case on President Donald Trump’s tariffs, his import taxes are likely here to stay — in one form or another.
No matter the outcome of a major legal case on President Donald Trump’s tariffs, his import taxes are likely here to stay — in one form or another. Even before a Wednesday ruling that Trump overstepped his authority by using a national emergency to impose most of his tariffs, there had already been discussions inside the West Wing about options if the courts struck down his expansive and untested use of emergency authority, two senior administration officials told CNN. “We really do think we have a strong case and will win,” one of the officials said. “But we do have other tools that can get us to the same exact place we’re ready to use if necessary.” Key to those efforts: using different trade-related laws to push forward more tariffs. Here are the most likely options the administration could tap into: This law allows a president to levy a tariff of up to 15% for a maximum of 150 days to address “large and serious United States balance-of-payments deficits.” That would occur when the value of a country’s imports far exceeds that of exports, also referred to as a trade deficit. The US currently runs an $87.6 billion goods trade deficit, according to advanced figures the Census Bureau released on Friday. Trump often claims large deficits are a sign the US is being “ripped off” and treated unfairly. Many economists, however, are much less convinced of his argument, with some even noting that a trade deficit can be a reflection of a strong economy and the power of the US to effectively stimulate the global economy.
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