The dynamics of America’s 2019 trade policy can be traced back to 84 years ago with the Reciprocal Trade Act of 1934, when Congress willingly handed over their power to set tariffs to the president. The 1934 act changed U.S. trade policy—and global trade policy—in major ways. By giving the executive branch the power to negotiate for lower tariffs in return for the same, it set in motion the mechanism for expanded global trade. President Trump wants to redefine—even reverse engineer—the way the executive branch uses this power. If Section 232 is going to be a mainstay of U.S. trade policy, these steps could keep it in line with the original national security intent.

Source: Forbes February 08, 2019 01:07 UTC