""When President Trump said that 'tariff' is one of the most beautiful words in the English language, he had a point,""
""Tariffs helped America industrialize, raise revenue to pay off debt, and level the playing field against unfair foreign trade practices before, and they're doing so again now.""
The Supreme Court showed skepticism about the Trump administration's authority to impose reciprocal tariffs, with some justices suggesting the tariffs function as a tax on Americans, a power reserved for Congress. A ruling limiting tariffs could nullify many administration plans for spending tariff revenue and create logistical problems for billions already collected. The administration defends tariffs as revenue-raising and protective measures, proposing new spending uses including a $2,000 rebate for low-income Americans. The administration imposed a 25% tariff on foreign-made cars and parts to incentivize reshoring, adjusted some measures, and negotiated partial reimbursements for automakers.
Read at Axios
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