Trade & Investment Policy Watch
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REUTERS/Jonathan Ernst
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Gary Clyde Hufbauer (PIIE) and Euijin Jung (PIIE)
White House adviser Peter Navarro recently urged Congress to pass the “Reciprocal Trade Act,” a bill that would give Trump unfettered discretion to raise US tariffs against imports from countries that impose higher duties than existing US rates. Senate Finance Committee Chairman Chuck Grassley immediately dismissed the proposal, arguing that presidential authority over trade needs to be curbed, not enlarged. Instead, bills advocated by Senators Rob Portman (R-OH) and Mike Lee (R-UT), among others, that would compel the president to seek congressional approval for Section 232 tariffs should be enacted—before Trump does further damage to the world trading system.
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REUTERS/Jonathan Ernst
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