<h1>New Tariffs Under 1977 Law Hit Imports, Spark Job Losses and Inflation Amid Legal Challenges</h1> The administration implemented broad tariffs on imports from over 60 countries, including the European Union, Japan, and South Korea, with rates ranging from 10% to 20%. These tariffs, imposed under a 1977 economic emergency law, aim to reduce the trade deficit and stimulate domestic manufacturing investment. However, economic indicators show early negative effects such as stalled hiring, rising inflation, decreased home values, and job losses in manufacturing. The tariff rollout has been inconsistent and legally contested, with challenges pending over the president's authority to impose such measures. Additional tariffs on specific countries and products, including a 50% rate on imports from one nation and 100% tariffs on computer chips, signal ongoing trade tensions. Critics, including former government officials, warn of legal challenges and economic disruption, while the administration remains optimistic about future growth despite uncertainty and visible economic strain.