Donald Trump assures his new tariffs will not require any congressional approval
Trump's words suggest he will not seek legislative support for the activation of this new phase of his commercial policy.
TL;DR
- Trump announced new 10% tariffs following a Supreme Court ruling against his previous tariff policy.
- He stated these new tariffs will not require Congressional approval to become permanent.
- Trump suggested that foreign tariffs could eventually replace the income tax system.
- The Supreme Court had previously ruled that Trump exceeded his authority in implementing tariffs without Congressional authorization.
- Trump is leveraging Section 122 of the 1974 trade law for the new tariffs.
- He previously announced a potential increase of the tariff to 15%.