💨 Abstract

President Donald Trump is considering using a 1930 trade law, Section 338 of the Trade Act, to impose reciprocal tariffs on countries with higher import taxes. This law allows the president to impose duties of up to 50% on imports from countries found to discriminate against U.S. commerce. Trump has said his new tariffs would take effect almost immediately, and this law provides a quick path for imposition.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖