Trump rebuilds trade regime with new tariffs on global trading partners
Axios · LC · trust 36/100
Add Axios on Google U.S. Trade Representative Jamieson Greer as Trump briefs reporters on Air Force One. Photo: Alex Wong/Getty Images
The Trump administration announced a new round of tariffs up to 12.5% on 60 trading partners on Thursday, preventing a lapse in import taxes as a temporary tariff program nears expiration.
Why it matters: It shows the White House's determination to preserve its tariff agenda by turning to new trade laws as earlier authorities expire or face legal challenges.
Zoom out: The tariffs stem from an investigation launched by U.S. Trade Representative Jamieson Greer in March under Section 301 of the Trade Act of 1974 into whether trading partners had failed to effectively block goods made with forced labor.
Between the lines: Oil and gas, certain fertilizers and some food products are among the goods exempted, reflecting concerns about economic disruption.
The big picture: The administration has been searching for more durable legal footing to impose its tariffs since the Supreme Court ruled earlier this year that the International Emergency Economic Powers Act doesn't authorize the president to impose import duties.
The intrigue: Immediately after the Supreme Court's ruling, the White House pivoted to Section 122 of the Trade Act of 1974, a never-before-used provision that allows an across-the-board tariff up to 15% for no more than 150 days to address balance-of-payments problems.
The bottom line: In the span of a week, the administration has reshuffled the legal foundation of its tariff regime yet again — a sign that Trump's trade agenda is now just as defined by legal maneuvering as it is economics.
What to watch: Higher tariffs might be ahead. The Trump administration is still investigating whether to impose tariffs over excess manufacturing issues.
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