Foreword
During the 2024 presidential campaign, President Donald J. Trump said that if he were re-elected, he would implement a broad range of tariffs on foreign imports to raise revenue and protect domestic industry. Upon returning to the White House in January, he followed through on that promise. Over the next several months, the president declared a series of “national emergencies” and imposed tariffs ranging from 10% to more than 50% on most American trading partners. He cited provisions of the International Emergency Economic Powers Act of 1977 (IEEPA), which gave the president the authority to “regulate … importation” to address…
