Trump advisers explore vast new legal powers for global trade war

[kevindavis007]

Donald Trump’s economic advisers are eyeing aggressive new legal justifications to impose tariffs on all imports, seeking to buttress a second-term plan that would reshape the U.S. economy, according to public and private comments by top aides.

On the campaign trail, Trump has repeatedly promised to enact a “ring” around the U.S. economy by enacting a tariff of at least 10 percent on goods imported from any other nation. Trump’s plan would target more than $3 trillion in annual imports and risks sending inflation soaring in what would likely prove the biggest escalation of trade hostilities in decades, ratcheting up the standoffs that marked his first term.

But the Constitution gives power over both taxation and regulation of foreign commerce to Congress, which complicates the extent to which the president can impose tariffs through executive action. Robert E. Lighthizer, Trump’s top trade counselor, has said publicly that the former president could invoke one of two legal theories to justify a “universal” tariff on all U.S. trading partners. Some Trump allies are concerned these efforts would not pass legal scrutiny, though, and have in recent weeks tried to find other bases for the plan, according to GOP policy analyst Doug Holtz-Eakin, as well as four additional people familiar with the matter, who spoke on the condition of anonymity to describe private conversations.

Read More: https://www.msn.com/en-us/money/markets/trump-advisers-explore-vast-new-legal-powers-for-global-trade-war/ar-BB1lXm8H

So both candidates want to make our lives a miserable hell.

[LMAO]

So both candidates want to make our lives a miserable hell.

It looks that way. For starters, we have a president whose economic advisor is clueless about basic economics

But Trump supporters here think that the reason why many of us are not going vote for him this fall is because we’re upset that he added a couple bucks onto the debt. He actually added more onto the debt in dollar amount in the shortest amount of time than any president before him with the debt to GDP ratio that was already over 100%. But that’s just one reason

His economic record as president wasn’t all that great. Or at least not as great as the supporters try to make it out to be. And many of his proposals for a second term, if enacted, will make things worse. His advisors are also planning ways to devalue the dollar should he win a second term

Trump needs to become aware of the history of Smoot Hawley Tariff Act


If Trump wins, his supporters would win a battle, but would ultimately lose the war

[kevindavis007]

It looks that way. For starters, we have a president whose economic advisor is clueless about basic economics

But Trump supporters here think that the reason why many of us are not going vote for him this fall is because we’re upset that he added a couple bucks onto the debt. He actually added more onto the debt in dollar amount in the shortest amount of time than any president before him with the debt to GDP ratio that was already over 100%. But that’s just one reason

His economic record as president wasn’t all that great. Or at least not as great as the supporters try to make it out to be. And many of his proposals for a second term, if enacted, will make things worse. His advisors are also planning ways to devalue the dollar should he win a second term

Trump needs to become aware of the history of Smoot Hawley Tariff Act


If Trump wins, his supporters would win a battle, but would ultimately lose the war

Let me put it bluntly and I know it's going to be unpopular.  Trump made GW Bush look like a deficit hawk. There I said it.


Trump lucked out with the economy before the COVID lockdowns of 2020 and you are right it wasn't that great. It was OK, but it wasn't that spectacular.  I don't think that Trump either doesn't care about the consequences of the Smoot Hawley Tariff Act or doesn't know the history.