The significance of Trump’s ‘new tariffs’

After his initial tariff system was struck down by the Supreme Court on February 20, President Donald Trump immediately imposed a 10 percent global tariff under Section 122 of the 1974 Trade Act, which can last 150 days before requiring congressional approval. This was the first time a president has done so. The instant these tariffs expired today, they were replaced by a new set of tariffs, under Section 301 of the same act. These impose a 10 percent tariff on countries that have taken action against imports produced by forced labor, and a 12.5 percent tariff on countries that have not. Many news outlets are headlining and criticizing the “new Trump tariffs.” The real story is that the tariffs have remained basically the same; they just have a different justification.