Trump’s ‘little disturbance’ – Michael Roberts
“Far from Trump’s tariff barrage ‘making America great again’, it has every prospect of driving the US economy into a recession and the other major economies with it…”
Tariffs in effect are a tax on consumers that, under current laws, the President can impose without specific approval of Congress. Expect higher prices, more job loss, and slower economic growth.
“According to Article 1, Section 8 of the Constitution, Congress holds the power to impose tariffs, not the president. However, over the years, Congress has passed multiple laws ceding some of that power to the president.”
Tariffs: What are they, who pays for them and who do they benefit? – USC