Washington, Feb. 24 -- With the US Supreme Court rejecting the Trump administration's reliance on emergency powers to impose tariffs on Friday, the White House moved swiftly to deploy a different statutory mechanism, prompting fresh scrutiny from economists and trade lawyers over whether the new approach rests on firmer legal ground, according to Axios.
The administration has reportedly pivoted from using the country's International Emergency Economic Powers Act (IEEPA) to invoking Section 122 of the Trade Act of 1974.
Over the weekend, it imposed 15 per cent global tariffs under Section 122, a rarely used provision that allows the President to levy tariffs of up to that level for 150 days in the event of a balance-of-payments crisis.
Se...