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The legal basis cited in Trump's tariff order is Section 232 of the Trade Expansion Act of 1962 which under certain circumstances allows the president to impose tariffs based on the recommendation from the U.S. Secretary of Commerce if "an article is being imported into the United States in such quantities or under such circumstances as to ...
A tariffs-for-jobs scheme is not scalable without massively higher costs that consumers would notice and rebel against. Inflation was tame when Trump imposed his first set of tariffs in 2018 and 2019.
He found that Trump’s proposed blanket 10% tariff on foreign imports, and a 60% tariff on all Chinese imports, would lead to a 1.2 percentage point increase in inflation in the first year after ...
Donald Trump loved to use tariffs on foreign goods during his first presidency. “There's going to be a lot more tariffs, I mean, he's pretty clear,” said Michael Stumo, the CEO of Coalition ...
A Trump campaign spokesperson responded by citing a study from the Coalition for a Prosperous America, a tariff advocacy group, which shows that a 10% universal tariff would not cause "meaningful ...
Trump's plans to impose new tariffs of 60% on Chinese imports and 10% to 20% on goods from elsewhere would "raise prices significantly for American consumers and create costs pressures" on ...
That's a different approach from Trump's typical speeches throughout the 2024 campaign, when he framed his election as a sure way to curb inflation. In the interview, Trump defended tariffs generally, saying they are "going to make us rich.”
Tariffs projected to cost $2,600 per household. A tariff is a fee on imports, which proponents believe helps domestic manufacturers. Trump has proposed a 10% to 20% tariff on all $3 trillion per ...