A New Era of Global Economic Policy?
What will Congress do about new expansive tariff policies?
President Donald Trump has focused on tariffs as a key part of his economic policy. And while much of the news cycle since the inauguration has focused on the president’s plans for and subsequent rollouts of tariffs, the role of Congress amid these shifts has not always reached the limelight. But first — what is a tariff? A tariff is a tax on imported goods. Over the course of modern history, tariffs in the U.S. have become less important compared to other federal revenue drivers. In recent decades, tariffs have been specifically used to protect certain industries, shape foreign policy…
