"Oregon's lawyer Brian Marshall told the judges they should block the 10 percent tariffs rather than let them expire on the normal 150-day timeline, to keep Trump from invoking a variety of laws to keep them indefinitely. [If] we have a successive series where there's always tariffs in place, that's a problem, Marshall said."
"Marshall also said the tariffs were based on archaic authority that was meant to protect the US dollar from sudden depreciation in the 1970s, when dollars could be exchanged for gold reserves held in Fort Knox."
"Trump has made tariffs a central pillar of his foreign policy in his second term, claiming sweeping authority to issue tariffs without input from Congress."
"The administration has said that global tariffs are a legal and appropriate response to a persistent trade deficit caused by the fact that the US imports more goods than it exports."
A three-judge panel of the US Court of International Trade is reviewing a case to overturn the temporary tariffs imposed by Trump after the Supreme Court invalidated his earlier tariffs. The 10 percent global import tax, effective February 24, is contested by 24 states and small businesses, claiming it bypasses the Supreme Court ruling. Oregon's lawyer argued that the tariffs are based on outdated authority and should be blocked to prevent indefinite imposition. Trump asserts his tariffs are a necessary response to trade deficits.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]