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Donald Trump Revives Dormant Smoot-Hawley Tariff Authority
Just the facts
The Smoot-Hawley Tariff Act of 1930 originally raised U.S. tariffs on over 20,000 imported goods to record levels during the Great Depression. The decision to utilize these dormant provisions provides the executive branch with expanded unilateral power to adjust import duties. Proponents argue the revival of these powers is a necessary step to protect domestic manufacturing and address trade imbalances. Conversely, economists and trade experts warn that invoking these historical provisions could trigger significant international trade disputes and retaliatory measures from major trading partners.
Why this is news
Donald Trump has announced the revival of legal authorities under the dormant 1930 Smoot-Hawley Tariff Act to implement new trade measures.
Sources
This summary is compiled strictly from the original reporting below.