Trump's Lightning-Fast Tariffs: The Legal Logistics Behind His Process | WSJ

President Trump skipped the normal months-long process to impose tariffs and instead used a 1970s to bypass them. This leaves him open to legal challenges and actions from Congress. After all, it's them who's supposed to set tariffs in the first place. WSJ’s Gavin Bade explains.

Chapters:
0:00 Trump’s tariffs
0:49 How it usually works
1:19 Trump’s approach
2:56 How the tariffs were calculated
3:38 How Congress is responding
4:35 The upshot

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#Trump #Tariffs #WSJ

[zofg]

Congress is broken. By the time these folks get their act together, it's over

[AsdJrke-zc]

One reason why it takes so much time to introduce tariffs is because these systems make it clear these tariffs legitimate and is not a one off fluke thats going to be revised and taken away as soon as the term is over or even before the term is over. Without this legitimacy and the way these tariffs are being switched up and taken off and on and off and on again makes it very hard for companies to invest in building an expensive and uncompetitive manufacturing plants in the US.
Its a stupid idea with an even stupider execution.

[zfenty]

Man the next president is going to look like a genius

[xiphoid]

I'm a penguin, and I understand the math behind the tarrif. It's so simple that even my egg can do it.

[palemale]

The basic arithmetic logic used in the "reciprocity" formula is not just flawed, but actually idiotic.

[jamestucker]

Using this idiotic formula is how Lesoto ended up with the highest tarriff. They are a poor country in Africa that just can't afford to buy anything made in America.

[AsdJrke-zc]

Is trump still calling the tariffs "retaliatory?"

[glademaster]

Good journalism. Objective and informative.

[qiangsun]

It's so ironic that the majority of Americans voted for Trump due to high cost of living and yet implementing tariffs will not only have no effect on basic groceries, but actually increase prices.

[pirepsilon]

Let's stop calling these reciprocal tariffs. They are nothing of the sort.

[AWSOM]

I called it, Schumer Effect as he was the one responsible surrendering tariff button to Trump as Senate passed his budget.

[Davebsuk]

The most important thing is for the senate and law makers to define ‘national emergency’. Something that has existed for years cannot be an emergency surely?

[zero]

3:13 it’s worse than that. Not only are they lying about “reciprocal tariffs” being about existing tariffs imposed on us. What they’re doing is punishing any country that doesn’t buy more stuff from us than we buy from them. Americans are infamously an infamously high consumption society and that WOULD lead them to consume more, per capita, than other nations …

But, they took every nation that we don’t buy much of anything from, the places where we DO export more than we import from. This is EXACTLY what his logic would say he wants. And those places ALSO got a 10% tariff. That’s punishing them for doing what we want (buying our stuff, more than we buy their stuff).

That’s how the penguins got the 10% tariff. And, it applies to dozens and dozens of other places.

And you know who DIDN’T get any new tariffs … Russia.

[FiniteResources]

They’re not reciprocal tariffs. He doesn’t even know how tariffs are calculated.

[rick-yo]

How can one man have so much power to affect the world? Trade imbalances are definitely not a “national emergency” and his use of the power is unconstitutional!

[scottmiller]

Congress abdicated their duties to the President, then complained when President does their vacated duty. Typical.

[hyugahyuga]

If you’re stuck following all the ‘smart money’ advice and getting nowhere, the book Uncommon Paths to Wealth from Cryptic Lore will show you why—and how to flip it

[deguilhemcorinne]

Thank you, I was looking for this information on the normal process.

[SusCalvin]

I'm curious how easy-going Americans are with smuggling. For most Americans, it is a banal challenge to pass the border to Mexico, Canada and elsewhere.

I want to see how much of the federal state is still functional to enforce this, and how easy it will be to bribe a fed now that the anti-corruption institutions are stifled.

[innerlight]

We in Europe love Trump. He weakens the US economy and that's good for us.