Trump admin can 'recreate the exact tariff structure' even if Supreme Court rules against it
Donald Trump's sweeping tariffs have triggered a discussion and affected global trade, and the debate about their legality has reached the Supreme Court. A verdict is yet to come, but according to a top aide of the President, the result of the legal hearing might be inconsequential. It turns out that a certain act might help them restructure the tariffs regardless of what the judges believe to be correct.
Treasury Secretary Scott Bessent cited several sections of the 1962 Trade Act that give the President sweeping powers over import duties, as per a report in CNBC. “We can recreate the exact tariff structure with [sections] 301, with 232, with 122,” he said in a recent interview. Bessent also said that the administration would like to implement these measures on a permanent basis. The verdict of the court, however, will still play a big role in terms of public support.
Section 122 of the act allows tariffs to be active for 150 days, but the other two sections, 301 and 232, do not have a specific timeframe. The Treasury Secretary also turned to the International Emergency Economic Powers Act, which provides a broad tariff authority. However, that is the very thing that is currently being scrutinised by the US Supreme Court. As far as Bessent was concerned, the tariffs have been a big success so far.
“Because of the fentanyl tariffs, the Chinese are making the first step forward that they’ve made” on trade, he said, despite the tension between the two countries over these tariffs. While the President and his aides may believe that the tariffs have been successful, the situation on the ground says otherwise. Prices of everyday items have gone up as a result of these measures, and people are not happy.
Earlier, FOX News had conducted a poll in which voters had their say on whether the President had done a good job with the economy so far. The majority do not believe that is the case. Not only have tariffs spiked prices of everyday items, but the government has recently halted SNAP benefits, which millions of Americans relied on to purchase groceries at lower prices. This has certainly not gone down well.
The poll showed that 76% of voters view the economy negatively, which is a lot worse than the 70% that Joe Biden received towards the end of his term. It also included a career-high disapproval among men, White voters, and those without college degrees for the President. He may even be slipping among his supporters as his approval rating among Republicans has come down to 86%, down from 92% in March.
Overall, 58% of voters are not happy with the job he has done so far, while 41% approve. The last time Trump’s approval rating was lower was back in his first term in 2017. Back then, he had recorded only a 38% approval rating at one point in time.
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