Posted on 12/05/2016 12:48:47 PM PST by Pinkbell
WASHINGTON; If President-elect Donald Trump thinks he’s going to impose a 35 percent tariff on companies importing goods, he might want to check with Republicans in Congress.
House Majority Leader Kevin McCarthy (R-Calif.) suggested Monday that Republicans would not be in favor of imposing the 35 percent tariff on foreign goods that Trump proposed Sunday in a series of tweets.
Trump may not understand how tariffs really work; it would be very difficult for the United States to impose them on specific companies that move jobs to a foreign country; or that Congress, not the president, sets them. But he also might be trying to use trade complexities to end run around Congress.
The president’s administration could declare a given country in violation of certain trade acts, and then impose a retaliatory tariff. It would then be up to the other nation to lodge protest with the appropriate authority.
If Trump wanted to push the issue, he probably could impose a tariff and wait for Congress, the courts or a trade organization to do something about it. And if he truly wants to do it, Republicans could be the ones going after Trump.
“I don’t want to get into some sort of trade war,” McCarthy said, still downplaying the policy differences between Trump and congressional Republicans.
There is some debate about how much power the president has to enact tariffs and “rip up” trade deals. The president could declare the United States in violation of certain trade acts, and then try to impose a tariff based on those old laws, but there would be significant pushback from Congress.
Regardless, the majority leader said Republicans were intent on overhauling the corporate tax code so businesses would stay in the United States. “That’s the best way to solve this problem,” McCarthy said.
(Excerpt) Read more at huffingtonpost.com ...
They say they don’t want to get in some sort of trade war?
NEWFLASH....WE ARE AND HAVE BEEN IN A HELL OF A TRADE WAR AND WE HAVE BEEN LOSING EVERY SINGLE YEAR FOR THE LAST 40 YEARS!
n 1975, U.S. exports exceeded foreign imports by $12,400 million, but that would be the last trade surplus the United States would see in the 20th century.
COMMUNIST CHINA’S PROFITS because of “free trade”:
Losers....The American People
Winners ...Communist China’s MILITARY.
Trump needs to Nuke the Filibuster in the Senate and Replace Ryan in the House AND put Pence in charge of the Senate....or drown in the swamp
no
How disingenuous the Free Traitors&153 is. I hope one day you will learn to actuality the truth. You are evil.
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