We keep talking about tariffs, and what kinds of tariffs are right. Part of the reason why tariffs are such a popular policy tools are the President's extensive tariff powers.

Cato's Clark Packard and Scott Lincicome have a new and very interesting briefing out on the Presidential tariff powers.

Congress delegated significant tariff authority to the executive branch after the disastrous Smoot-Hawley Tariff Act of 1930, assuming the president would be less influenced by special interests, and both Presidents Trump and Biden have used these powers extensively.

And they are broad: under the International Emergency Economic Powers Act (IEEPA), the president can impose embargoes, sanctions, and block imports and exports in response to "unusual or extraordinary" threats to national security, foreign policy, or the economy. Section 232 of the Trade Expansion Act of 1962 allows the president to adjust imports that threaten national security. Section 301 of the Trade Act of 1974 authorizes the president to impose tariffs or other trade restrictions in response to unfair foreign trade practices. Section 338 of the Tariff Act of 1930 permits the president to impose tariffs of up to 50% on imports from countries discriminating against U.S. commerce. Lastly, Section 122 of the Trade Act of 1974 allows for temporary tariffs of up to 15% to address balance-of-payments deficits.

Moreover, the authors note, there have historically been few checks of these powers. Congress has not taken significant action to limit presidential tariff powers; courts have generally been deferential to the executive branch in tariff cases, especially those involving national security; and the WTO's ability to constrain US tariff decisions is limited.

Given Cato's ideological leanings, it's not surprising to see that the authors want to see Congress reclaim some of its trade authority, which should also appeal to limited government and constitutional conservatives. They hope Congress does it during the lame duck, which is a tall order, though.

SEE ALSO: Exclusive: Harry Moser, Reshoring Initiative: "You Should Tariff Everything And All Countries Forever" →

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