Washington, (EFE).- The United States President Donald Trump announced on Friday that he will impose a 10% global tariff, three hours after the Supreme Court partially nullified his existing tariffs. He pointed out such tariffs would go into effect «three days from now» and under the authority of a 1974 law.
«I will sign an order to impose a 10% global tariff under section 122 (of the Trade Act of 1974), over and above our normal tariffs already being charged. And we’re also initiating several section 301 and other investigations to protect our country from unfair trading practices of other countries and companies,” Trump stated in a press conference at the White House.
The Trade Act of 1974 is a landmark US law that grants the president authority to impose tariffs of up to 15% for periods of 150 days.
Trump, who claimed to have powerful alternatives to impose tariffs, explained that he would resort to three laws that will make the implementation of the tariffs more complex, but will allow him to continue his economic policy despite the Supreme Court’s decision.
«It’s a little bit longer process. I thought I’d make things simple, but they didn’t let us do that,» he explained to the press just three hours after his signature measure was partially nullified by the American judiciary.
In addition to the Trade Act of 1974, he also mentioned the Trade Expansion Act of 1962, signed by President John F. Kennedy during the Cold War, which allowed him to expand presidential authority to negotiate trade agreements and modify tariffs.
He also appealed to the Hawley-Smoot Tariff Act of 1930 (or Smoot-Hawley), a US law passed on June 17, 1930, which raised import tariffs to historically high levels with the purpose of protecting American industries and farmers from foreign competition.
The Supreme Court ruling establishes that the US government does not have inherent powers in peacetime to impose tariffs based on the International Emergency Economic Powers Act (IEEPA) of 1977, which Trump had invoked as the pillar of his trade war. The court considers these levies a tax and therefore requires Congressional approval.
The president, visibly upset by the judicial decision, assured reporters that «the Supreme Court did not overrule tariffs. They merely overruled a particular use of IEEPA tariffs.»
«I can do anything I want with IEEPA. Anything. I just can’t charge anybody for it. I can license. I just can’t charge them. It’s ridiculous. But it’s okay, because we have other ways, numerous other ways.” he said, listing “the ability to block, embargo, restrict, license, or impose any other condition on a foreign country’s ability to conduct trade with the United States.” EFE
lt-acd/dmv/mcd
