Tariffs: What Lies Ahead?

March 28, 2025 - Tariff authority rests with Congress under Article I, Section 8 of the US Constitution. Congress raises or lowers tariffs through legislation. Tariff rates can be set by a country unilaterally (without any negotiation or agreement with a trading partner), bilaterally or multilaterally (through negotiation and agreement with one or more countries). The amount of the tariff can reflect different priorities. President Trump has proposed basing US tariff rates on a reciprocal basis (matching tariff rates imposed by a trading partner on US exports), which is a departure from the current rate structure Read Full Article »