Injecting the Economy With Bleach
As I write this, Wall Street stock indexes have dropped to levels they haven’t hit since the COVID days of 2020. This is in response to Trump’s Rose Garden chat April 2 where he introduced his so-called “reciprocal” tariffs on more than 180 countries. Although only Congress can set taxes, Trade Promotion Authority laws originally enacted in 1974 acknowledge the role of the executive branch in actually negotiating trade agreements. Trump imposed the tariffs without Congress’ participation by invoking the 1977 International Emergency Powers Act (IEEPA).
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