Trump Would Use Tariffs to Fund Tax Cuts

Politico: “Trump advisers and important congressional players are already discussing the contours of a bill that would use tariffs as a way to partially fund tax cuts. That would be a particularly notable victory for protectionists responding to globalization, which has lowered consumer prices but also hurt domestic manufacturing workers.”

“Congress has not raised tariffs through legislation in almost 100 years — since the infamous Smoot-Hawley Tariff Act of 1930. In the century that followed, lawmakers have delegated much of their authority to the president, and legislative action has almost always leaned toward implementing trade deals lowering duties.”