Speaking frankly, as a devotee of the free-market economy, I find tariffs are a poor strategy. The upheaval they’ve caused in global stock markets was wholly avoidable. Even if you hold similar views to President Donald Trump and believe tariffs to be a winning strategy, should it be within the power of one individual to destabilize stocks and commence protracted trade wars? In deploying such far-reaching taxes on overseas goods, Trump has audaciously tested the boundaries of his presidential power.
As per the Constitution, the right to decree and amass tariffs falls under the purview of Congress. Yet, Trump has announced a temporary halt on his enacted tariffs impacting most countries, maintaining however, disproportionately high tariffs on China, a decision that saw a surge in the U.S. stock market. Historically, the president has been granted more autonomy over tariff implementation by Congress, but never to the extent we are witnessing under Trump’s regime.
Presumably, it is high time for legislators to reclaim their rightful authority, and few are starting to heed the clarion call. I have documented incessantly in the last four years on the former President’s relentless executive authority oversights, largely attributing it to the perpetual ’emergency’ status of the COVID-19 pandemic, permitting him to circumvent Congress. It would be unbecoming for Trump to follow suit.
The propensity for Presidents exercising individual rule is a growing concern, with Trump issuing upwards of 100 executive orders. It seems like he’s merely warming up. While numerous orders are commendable and clearly beneficial, it’s of utmost importance that Trump doesn’t become over-reliant on his singular presidential authority, as the balance of power is a cornerstone of our governance.
Our nation was institutionalized on the principle of preventing the consolidation of power to a sole entity, a testament to our three-tiered government system. This form of checks-and-balances has thankfully caught multiple unconstitutional atrocities, flagging them mid-flight. The judicial branch is likely to intervene on tariffs if they persist long term, as demonstrated by at least one lawsuit already underway contesting Trump’s tariff implementation.
Historically, each incumbent president has attempted to push the borders of their executive power. Existing laws grant Congress the authority to truncate Trump’s tariffs. A proposition is that Congress should step to the forefront and operate within its purpose. Trump has announced an unprecedented national emergency concerning trade deficits, citing the International Emergency Economic Powers Act as justification for his tariffs.
Some members of the senate are retaliating against this novel understanding of the law. In response, a republican senator this week has proposed a bipartisan resolution aimed at nullifying Trump’s emergency declaration, simultaneously mandating more collaborative work with Congress. Taxation is the domain of Congress, not a prerogative of the president.
The Constitutional architects were unequivocal – the domain of tax policy should never lie in the hands of a single entity. There’s an urgent need for Congress to recapture this authority and restore power equilibrium. Proposed bipartisan legislation in the Senate seeks to mandate Congressional approval within a 60-day window for new tariffs.
Republicans understanding the erosion of the checks and balances, but remaining uneager to confront Trump’s tariff overhaul should not dismiss the broader implications of this issue. If Trump succeeds in breaching the seams of the separation of powers, it’s almost a certainty that future democratic presidents will replicate this approach for their policy execution.
The post Tariffs and Presidential Power: The Balance at Stake appeared first on Real News Now.
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