Wars of choice, a plethora of changing tariffs and sanctions on countries across the world, and a historically high number of executive orders characterize the first year of Donald Trump’s second presidential term. And all this has been accomplished by the executive branch with minimal pushback from the legislative branch.
Tag: tariffs
The tariffs President Donald Trump announced on Wednesday are massive in size and scope, Indeed, some early analysis indicates Trump has raised the United States average tariff rate to higher than did the Smoot-Hawley Tariff Act of 1930 that contributed to the American people’s suffering in the Great Depression. A big difference, though, is that Trump on his own was able to impose his sweeping tariffs this week, while the 1930 tariffs were imposed via legislation approved by votes and in the United States House of Representatives and Senate and then signed into law by President Herbert Hoover.
United States President Donald Trump is out imposing tariffs of different sorts on products from countries across the world. In many instances, the governments of countries hit by tariffs have responded with retaliatory tariffs against America. Refreshingly, it looks like the Australia government it taking the economically sound course of opting out of this “trade war.” As a result, Australians should benefit from avoiding paying a tariff tax imposed by their own government when they buy products.