Under what authority the President of United States of America can impose tariffs?
- ACongress passed laws allowing the President to impose tariffs unilaterally for national security reasons.
- BThe Constitution of United States authorizes the President to impose tariff subject to some restrictions.
- CThe President of United States has sweeping powers to impose tariffs to correct the trade imbalance.
- DNone of the above
Solution & Step-by-step Explanation
While Article I, Section 8 of the United States Constitution grants the sole authority to regulate commerce and levy tariffs to the US Congress, over the years, the Congress has passed various legislative laws (such as Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974) that delegate explicit, conditional authority to the US President to adjust tariffs unilaterally, particularly under national security criteria or trade remedy circumstances.