Trump’s new tariffs shift focus to balance of payments; economists see no crisis

President Donald Trump’s temporary 15 percent tariffs to replace those struck down by the US Supreme Court are meant to resolve a problem that many economists say ​does not exist: a US balance of payments crisis, making them potentially vulnerable to new legal challenges. Hours after the high court on Friday struck down a huge swath of tariffs Trump had imposed under the International Emergency Economic Powers Act, the president announced the new duties under Section 122 of the Trade Act of 1974 — a never-used statute that even his own legal team dismissed as irrelevant months ago.

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