Trump admin to announce trade investigations, aimed at replacing IEEPA tariffs: Reports
CNBC
The Supreme Court, in a 6-3 ruling, said President Trump was not authorized by the International Emergency Economic Powers Act, IEEPA, to impose tariffs.
The Trump administration is expected to announce as early as Wednesday new trade investigations, with the goal of replacing reciprocal tariffs recently ruled illegal by the Supreme Court, according to reports.
The probes will be conducted under Section 301 of the Trade Act of 1974, The New York Times and Wall Street Journal reported Wednesday.
That law permits a president to slap tariffs on imported goods from other nations that are found to have engaged in unfair trade practices.
Federal Reserve Chair Jerome Powell has said he is being investigated ostensibly for comments he made about the pricey renovations of the Fed's headquarters.
The United States government could end up paying $165 billion of more in refunds for Trump's IEEPA tariffs that the Supreme Court ruled were illegal.
Iran's threat to the Strait of Hormuz can't be fixed by releasing oil from strategic petroleum reserves.
The House Oversight Committee has called in Tova Noel, who was working at the time of Jeffrey Epstein's death, for a deposition later this month.
Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.
Russian leaders told President Trump they aren't sharing intelligence with Iran as it fights the U.S. and Israel, Special Envoy Steve Witkoff said this week.
It comes at a time when the Caribbean island is grappling with a worsening economic crisis.
Analysts say any attempt to attack or seize Iran’s strategic oil hub is likely to be fraught with risk.
The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.
His comments to CNBC come as the U.S. and Israeli-led war appears poised to enter its third week.
The U.S. Central Command said that the loss was "not due to hostile or enemy fire."
The State Department said this week that 36,000 Americans had returned to the U.S. after the start of the war with Iran.
The Strait of Hormuz has been effectively closed to shipping because of the war against Iran by the U.S. and Israel.