Peter Schiff, an American economist, wrote today (August 18, Beijing Time): "The US Court of Appeals is likely to rule that Trump's tariffs are unconstitutional. This means that US importers can get refunds for the tariffs they have already paid, allowing Trump to find another scapegoat for the upcoming economic recession, in addition to Powell and Biden. Irony is that abolishing the tariffs would actually be helpful."
[Witty] Comment: Peter Schiff's view has some merit, but the US Supreme Court, which is dominated by Republicans, may stop the appellate court's ruling. The final decision rests with the Supreme Court, and it will not be until next year. By then, trade agreements may have already been finalized. If the "reciprocal tariffs" are established by Congress and signed into law by the president, they would not be unconstitutional, but Trump found this process too slow. He cited the International Emergency Economic Powers Act (1977) to implement his policies, but many economists believe that using the trade deficit as a reason is unreasonable.
Original: www.toutiao.com/article/1840747628333063/
Statement: This article represents the views of the author.