AXIOS (Herb Scribner) - Trump signals new tariffs plan. Here's how Section 122 works
After the Supreme Court's shock decision on tariffs Friday, President Trump quickly pivoted to another trade law: Section 122 of the Trade Act of 1974 . Why it matters: The global break from President Trump's tariffs will only be temporary. For months, top Trump officials said they had a "Plan B" if the highest court blocked their signature economic policy — which could leave hefty import taxes on foreign consumer goods essentially intact. The big picture: Section 122 will allow Trump to reimpose some sweeping tariffs, at least temporarily. It's never before been invoked, representing a historic moment for presidential economic policy. - Section 122 was designed to address short-term emergencies, not long-term trade policies. Driving…
After the Supreme Court's shock decision on tariffs Friday, President Trump quickly pivoted to another trade law: Section 122 of the Trade Act of 1974 . Why it matters: The global break from President Trump's tariffs will only be temporary. For months, top Trump officials said they had a "Plan B" if the highest court blocked their signature economic policy — which could leave hefty import taxes on foreign consumer goods essentially intact. The big picture: Section 122 will allow Trump to reimpose some sweeping tariffs, at least temporarily. It's never before been invoked, representing a historic moment for presidential economic policy. - Section 122 was designed to address short-term emergencies, not long-term trade policies. Driving…Open