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The Trump Administration Seeks Tariff Plan B Allowing for the Imposition of Up to 15% Tariffs Within 150 Days
According to The Wall Street Journal, this week, a court ruled that Trump's use of emergency economic powers to impose broad tariffs is illegal, undermining the government's tariff strategy.
A federal appeals court allowed the tariffs to remain in effect during the government's appeal, but insiders revealed that due to the threat to this strategy, the president's team is considering a two-step response.
First, the government is considering a stopgap measure to impose tariffs on most areas of the global economy using a previously unused provision of the Trade Act of 1974, which includes allowing for the imposition of up to 15% tariffs within 150 days to address trade imbalances with other countries. This would buy Trump time to design personalized tariffs for trade partners under different provisions of the same act to combat unfair foreign trade practices. The second step requires a lengthy notice and comment process, but from the perspective of government officials, this step is legally more defensible compared to the tariff policy deemed illegal this week. Insiders also stated that discussions are still uncertain, and the government has not made a final decision
