<h1>Presidential tariff authority may impose sweeping import taxes, raising domestic prices and prompting foreign retaliation.</h1> The document reports an executive plan to impose broad import tariffs under the President's authority to act without congressional approval, premised on spurring domestic production. It warns that such unilateral tariffs are projected to raise consumer prices, reduce GDP growth, and create business uncertainty, while provoking retaliatory measures from trading partners. Political critics characterise the measures as a large tax increase enacted without a congressional vote and question the effectiveness of tariffs to deliver promised manufacturing gains.