Experts say Trump could turn to several statutes, including Section 122 of the Trade Act of 1974, which would only allow a flat rate maximum of 15% for six months, or Section 338 of the Tariff Act ...
The current animosity bears many similarities to an earlier episode in U.S. history — the Tariff Act of 1930 — which triggered an all-out trade war and exacerbated the Great Depression ...
Later, tariffs were largely used to restrict imports or as a bargaining chip to reduce trade barriers ... In fact, the Tariff Act of 1789 was among the first bills ever passed by Congress.
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