Tag: Cato Institute

The Trump administration is appealing a court order to refund $166 billion in tariffs collected under IEEPA, which the Supreme Court struck down as illegal, in order to retain revenue it was never entitled to collect.

The Trump administration’s invocation of Section 122 of the Trade Act of 1974 to impose a 10 percent global tariff is legally and economically flawed, because a goods trade deficit does not constitute a balance-of-payments deficit as the statute intended.

Voyage-level data from the Trump administration’s Jones Act waiver demonstrates that the 1920 law has been suppressing intra-US trade by preventing domestic cargo movements that the market clearly wanted to make.