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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 ...
The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second-largest economy.
Trump’s first-term tariffs did not meaningfully raise inflation, although they were far narrower in scope than what Trump is currently proposing, and the pandemic that follow skewed some of the ...
The first Trump tariffs were imposed by executive order (not by act of Congress) during the first presidency of Donald Trump as part of his economic policy. In January 2018, Trump imposed tariffs on solar panels and washing machines of 30 to 50 percent. [36] He soon imposed tariffs on steel (25%) and aluminum (10%) from most countries.
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 ...
In his 2025 inaugural address, Donald Trump compared himself to former President William McKinley boasting that he, like McKinley, would make “our country very rich through tariffs.” To make ...
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.
But tariffs might not actually be great for everyday people. His tariffs could cost a middle-income household $1,700 a year, according to the Peterson Institute for International Economics. If ...