So it's uncharted area, but it remains on the statute book. So that's one area. Another area, which is where the President went pretty much Immediately, is Section 122 of the Trade act of 1974... gives the President the power to impose duties of up to 15% for up to 150 days in order to address, quote, large and serious balance of payments deficits. Congress has to vote to extend them past the 150 day limit or else the duties expire, but the President is able to reissue them on expiration. (23:27–23:45)
CLAIM
Asserts that the Trade Act of 1974 allows the President to impose duties up to 15% for 150 days.
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