https://www.taxtmi.com/news?id=39537 A presidential program invokes emergency powers to impose a universal baseline import tariff and higher reciprocal tariffs on countries with trade surpluses, applying country-specific elevated rates to reshape trade relationships. The measures are advanced as tools to revive domestic manufacturing and may be capped or negotiated downward by counterparties, while critics warn of higher consumer prices, economic slowdown, business uncertainty, and likely foreign retaliation, and assert that such unilateral taxation and trade policy should require congressional approval. en-us Thu, 03 Apr 2025 02:31:03 +0530 Thu, 03 Apr 2025 02:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=39537 A presidential program invokes emergency powers to impose a universal baseline import tariff and higher reciprocal tariffs on countries with trade surpluses, applying country-specific elevated rates to reshape trade relationships. The measures are advanced as tools to revive domestic manufacturing and may be capped or negotiated downward by counterparties, while critics warn of higher consumer prices, economic slowdown, business uncertainty, and likely foreign retaliation, and assert that such unilateral taxation and trade policy should require congressional approval. News - Thu, 03 Apr 2025 02:31:03 +0530 https://www.taxtmi.com/news?id=39537