@jamessurowiecki : This round of tariffs is likely illegal, since Trump is relying on his authority under the IEEPA, which requires there to be an "unusual and extraordinary threat," which a trade deficit is not. But it's very unlikely a court will overrule Trump. So it's up to Congress to act. • TwiCopy

James Surowiecki

@jamessurowiecki

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Author of The Wisdom of Crowds. Contributing writer for Fast Company and The Atlantic. I wrote The Financial Page for The New Yorker.

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James Surowiecki

@jamessurowiecki

4 months ago

This round of tariffs is likely illegal, since Trump is relying on his authority under the IEEPA, which requires there to be an "unusual and extraordinary threat," which a trade deficit is not. But it's very unlikely a court will overrule Trump. So it's up to Congress to act.

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