In recent years, President Donald Trump has implemented various trade actions that have caused quite a stir in the global economy. From imposing tariffs on steel and aluminum imports to renegotiating trade deals with other countries, Trump’s trade policies have been met with both praise and criticism. However, what many fail to realize is that these actions are not outside the law – they are exactly what the law was designed to enable.
The legal architecture of Trump’s tariff policies can be traced back to the Trade Expansion Act of 1962. This act allows the President to impose tariffs on imported goods if they are deemed a threat to national security. While this provision has rarely been used in the past, Trump has utilized it to its full potential in order to protect American industries and workers.
One of the main reasons for Trump’s trade actions is to address the trade deficit that the United States has been facing for years. The trade deficit occurs when a country imports more goods than it exports, resulting in a negative balance of trade. In 2018, the US trade deficit reached a record high of $891.3 billion, which is a cause for concern for any country’s economy.
To combat this, Trump has imposed tariffs on imported goods, making them more expensive for American consumers. This, in turn, encourages people to buy American-made products, thus boosting domestic industries and reducing the trade deficit. This approach has already shown positive results, with the trade deficit decreasing by 2.5% in 2019.
Another aspect of Trump’s trade policies is to renegotiate trade deals with other countries, such as the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership (TPP). These deals were originally designed to benefit all parties involved, but in reality, they have caused harm to American industries and workers. By renegotiating these deals, Trump aims to create a more level playing field for American businesses and workers, ensuring fair trade practices and protecting American jobs.
Critics of Trump’s trade policies argue that they will lead to a trade war and hurt the global economy. However, what they fail to understand is that these actions are not meant to isolate the US from the rest of the world, but rather to create a fair and balanced trading system. Trump has repeatedly stated that he is open to negotiating with other countries and reaching mutually beneficial agreements. In fact, he has already reached a trade deal with China, a major trading partner of the US, which will result in increased exports and reduced tariffs.
Moreover, Trump’s trade policies have also brought back a sense of patriotism and pride in American-made products. For too long, American industries have suffered due to unfair trade practices and cheap imports. With Trump’s policies, American businesses are seeing a resurgence, creating more jobs and boosting the economy. This has also led to an increase in consumer confidence, with Americans feeling more optimistic about the future of their country.
In conclusion, Trump’s trade actions are not outside the law – they are exactly what the law was designed to enable. The Trade Expansion Act of 1962 gives the President the authority to protect national security and promote fair trade practices. Trump’s policies have already shown positive results in reducing the trade deficit and boosting domestic industries. They have also brought back a sense of pride in American-made products and created a more level playing field for American businesses. It is time to recognize the legal framework behind Trump’s trade policies and support them for the betterment of the American economy.
