economy
Is Trump’s New Tariff Lever IEEPA 2.0?
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TL;DR
- President Donald Trump enacted new tariffs on 60 trading partners.
- The tariffs were imposed under Section 301 of the Trade Act of 1974.
- Imports from 41 partners will face 12.5 percent tariffs.
- Imports from other partners will face 10 percent tariffs.
- Affected trading partners include the European Union, Canada, Australia, Japan, and South Korea.