While Donald Trump's administration has brought back the reciprocal tax after a great struggle, it is also planning to impose a new tax, saying that it should never impose taxes in violation of the rules again. Although the reciprocal tax has been temporarily suspended for 90 days, the basic tax of 10 percent is currently in effect. trump has decided to raise this. For this, the trump administration is studying a plan to temporarily impose taxes on global imports using the old trade law. Under this plan, the trump administration may impose taxes of up to 15% for 150 days, The Wall Street Journal reported in its news.
Trump's move, which has created legal uncertainty over the reciprocal tax, is seen by the trump administration as an attempt to reaffirm its trade policy and stance. Although a final decision has not been made yet, there are fears that it could have a major impact on the global economy. The trump administration is exploring the possibility of using the old trade law to impose tariffs of up to 15% for 150 days without congressional approval. This old trade law gives the US government the right to control the rate and duration of the tariffs (up to 15%, for 150 days).
Trump’s reciprocal tariffs, imposed under the international Emergency Economic Powers Act of 1977 (IEEPA), are currently facing legal challenges. The U.S. court of international Trade ruled that the tariffs were illegal, but an appeals court has temporarily blocked the ruling.
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Sowmiya Sriram

30/05/2025 02:40 PM