"President Trump created tariff whiplash earlier this year, first imposing tariffs on almost every country, then dialing them back. Since then, Trump has struck what his administration has said are trade deals with some countries. But despite these deals, it doesn't mean there's any certainty regarding what taxes businesses will end up paying on imports. To explain, we're joined now by NPR White House correspondent Danielle Kurtzleben."
"To talk about that, here's Jake Colvin. He's the president of the National Foreign Trade Council, which is a business association that advocates on trade policy. JAKE COLVIN: If you're looking at these series of bilateral trade agreements that the administration has announced with partners in Latin America and Southeast Asia over the past couple of weeks, there's a real concern about their durability. You know, without approval by Congress, these are really political agreements, rather than legal ones."
President Trump announced multiple trade frameworks after earlier imposing and then dialing back broad tariffs, creating tariff whiplash. The administration labeled these frameworks as deals, but the frameworks are not finalized trade agreements and are generally not legally binding. Many of the announced frameworks require further negotiation and potential congressional approval before becoming enforceable. Some targeted tariff removals, such as on certain grocery items, provided limited stability, but businesses remain uncertain about long-term tariff treatment. Trade advocates and business groups express concern about the durability and legal enforceability of political agreements absent formal legal approval.
Read at www.npr.org
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