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Trump Considers Tariff Plan B, May Use 'Section 122' to Impose 15% Tariffs Within 150 Days: Rumor
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After the US courts of appeals temporarily restored reciprocal tariffs, US President Donald Trump's team is preparing a plan B to assess whether there is a need to use new legal authority to implement tariff policies, the Wall Street Journal quoted sources as saying. Currently, two measures are being considered. The first step considered by Trump's team is to impose tariffs globally based on a never-used 'Section 122' of the Trade Act of 1974, according to the report. This section allows for tariffs of up to 15% to be imposed within 150 days to address trade imbalances with other countries. The second step involves imposing additional tariffs under 'Section 301,' although this involves a lengthy notification and discussion process, but it is considered to have a stronger legal basis. It is reported that internal negotiations on plan B within the White House have not progressed, and no final decision has been made. The spokesperson of the White House, Karoline Leavitt, said that the government is appealing the court's decision, and considering other tariff options but declined to disclose specific details. AASTOCKS Financial News Website: www.aastocks.com |
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