It is no secret that a signature component of President Donald Trump’s economic agenda is the use of import tariffs. From the moment he entered office on January 20, 2025, President Trump has moved quickly and frequently to assess tariffs on virtually all imports. He placed a 25% tariff on non-covered goods from Mexico and Canada (goods not covered by the USMCA) and a 10% tariff on China for its role in the trafficking of fentanyl. In April 2025, he launched “Liberation Day”, wherein he applied nation-specific tariffs using an interpretation of the International Emergency Economic Powers Act (IEEPA). From this benchmark, he has since brokered agreements with the United Kingdom, the European Union, India, Japan, South Korea, Vietnam, Thailand, Indonesia, and more to establish more concrete tariff rates. He used Section 232 of the Trade Expansion Act to place tariffs on aluminum, steel, and semiconductors, and Section 301 of the Unfair Trade Practices Act to hit China for its unlawful pr...