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Tag: constitutional trade law
Trump’s 2025 Tariff Reductions: Legal Frameworks, Economic Impacts, and Policy Implications
On April 2, 2025, President Donald Trump announced a sweeping overhaul of U.S. trade policy, introducing a baseline 10% tariff on all imports and significantly higher rates for certain countries, notably China. This move, termed "Liberation Day" by the administration, aimed to address longstanding trade imbalances and protect domestic industries. The immediate aftermath saw global markets plunge, with the S&P 500 experiencing its worst single-day decline since the 2020 pandemic-induced crash . However, a subsequent 90-day tariff pause, announced on April 9, led to a market rebound, highlighting the volatility and uncertainty surrounding the administration's trade strategies.