Free Trade

Eric Boehm | 11.21.2024 11:50 AM

President-elect Donald Trump has promised to impose huge new tariffs on goods imported into the United States, a tax increase that could cost Americans hundreds of billions of dollars annually.

Unless Congress acts soon, Trump might be able to do it all without a single vote by the country's elected representatives.

Opponents of Trump's tariff plans—including business groups and trade associations whose members would be hit with those higher costs—are eyeing the upcoming lame-duck session of Congress as possibly the last, best hope of yanking some tariff powers back from the chief executive. With a small Democratic majority in the Senate and President Joe Biden in the White House until January, there is at least a slim hope that lawmakers could restore some of the balance of power over trade policy.

"President-elect Trump's aggressive tariff proposals, including across-the-board tariff increases on our closest allies, will have significant economic and foreign policy consequences, including higher prices for consumers and businesses, potential trade wars, and disruptions to supply chains," Ed Brzytwa, vice........

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