Law: Litigator of the Week: Sending the Trump Administration Back to the Drawing Board on Tariffs
Litigator of the Week: Sending the Trump Administration Back to the Drawing Board on Tariffs
Though tariffs will increase government revenue and allow for more government spending, it is important to note that this revenue is collected from private individuals and firms, limiting their spending and investments. While tariffs alone are not a secret path to boosting GDP, tariffs used as a blunt instrument could increase GDP.
Executive Summary While the Trump Administration has implemented tariffs to pursue a wide range of policy objectives – from protecting domestic manufacturing to raising revenue to pay down U.S. debt – they have come at the cost of significant damage to U.S. businesses, particularly small businesses; the most damaging of these tariffs have been issued […]
President Trump has attempted to use tariffs as a tool to reduce the U.S. goods trade deficit, largely by making imports more costly compared to domestic alternatives. The greatest example of this was on April 2, dubbed “ Liberation Day,” due to the administration’s desire to utilize universal tariffs to reduce the U.S. trade deficit.
Mexican Fresh Tomatoes Since 1996, the United States and Mexico have agreed to limit the use of tariffs on fresh tomatoes in a deal formally known as the Agreement Suspending the Antidumping Duty Investigation on Fresh Tomatoes from Mexico, more commonly as the Tomato Suspension Agreement (TSA).
Tariffs on Steel and Aluminum The use of tariffs to protect the domestic steel and aluminum industries is not a new policy. Such tariffs have been implemented in the name of national security or with the hope of preserving jobs. In 2002, the Bush Administration imposed tariffs of up to 30 percent on various steel products for about two years.