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Originally Posted by fast4522
That's cool Clocker, I support President Trump's view 100%
And has full discretion in policy in trade.
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The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis.
Article 1, Section 8 of the Constitution:
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The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States
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The Congress often passes tariffs which give the president the authority to vary the rate of the tariff within a given range according to conditions, as when Trump recently raised the tariff rate on Canadian lumber, using a tariff that Congress had already passed some time ago. The president cannot put a tariff on something the Congress has never approved.
One of the few things that economists across the political spectrum, from far left to far right, agree on is that Trump does not understand tariffs or international trade. You don't have to understand international trade to buy and sell New York real estate.
The primary effect of tariffs here are higher prices for American consumers. The higher prices may also decrease demand, thereby eliminating American jobs. The higher prices may also make American products more competitive, but that can vary widely, and generally will create fewer new jobs than were eliminated.
Some of us think that tariffs result in the Congress and/or the president picking winners and losers in the economy, and would prefer that be left to the market.
