Live updates: S&P 500 soars 7% after Trump announces 90-day pause on tariffs, raises taxes on China
apnews.com
Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.
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  • Sibshops@lemm.eeEnglish
    1 year

    I’m not a lawyer so I can’t interpret the law. However, the judicial branch can and there haven’t been any rulings which have indicated that the president didn’t have the power to set tariffs.

    Another law would be needed to be passed so judicial rulings could say the president didn’t have this power.

    • catloaf@lemm.eeEnglish
      1 year

      Powers not granted to the federal government by the Constitution are reserved to the states, or the people. The Constitution grants the power to impose tariffs, but it does not grant the authority to delegate that power.

      I’m sure SCOTUS has ruled that there’s some allowance, but that’s legislating from the bench.

      • Sibshops@lemm.eeEnglish
        1 year

        I think our opinions on the law are irrelevant here. The SOCTUS said it’s lawful for the president to impose tariffs. So the only way to change the SOCTUS decision is to pass another law making it explicit that the president doesn’t have these powers.