Trump, by invoking emergency powers, is going around Congress to impose the tariffs. He has created a base 10% tariff but is taxing imports from many countries more, based on how those countries tax American imports. The order Trump signed Wednesday says that it excludes products “compliant” with the trade agreement but did not offer definitions. Advertisement“We took in hundreds of billions of dollars from China in tariffs,” Trump said. Whether Trump understands how this works is unclear, even though his businesses often purchased both raw material and finished goods from other countries, including China.

Source: Huffington Post April 03, 2025 11:07 UTC