Tariffs and Trade Policy - The President's use of emergency powers to impose tariffs is being challenged in courts, raising concerns about potential economic fallout [1] - The tariffs are extraordinarily high, reminiscent of the Smoot-Hawley Act during the Great Depression [2] - The constitutionality of the tariffs is questioned, as the power to levy tariffs is constitutionally granted to Congress [3] - The President's inconsistent tariff policies have created enormous uncertainty in global markets [5][6] - CEOs are preparing for continued uncertainty in international business relations due to the tariffs [8] Economic Impact - The President's actions have created greater economic uncertainty than even the COVID-19 pandemic at one point [6] - American companies are already paying higher prices due to the tariffs [10] - Consumers are expected to start feeling the impact of the tariffs in the next couple of months [10] Policy Implications - Restoring the power to levy tariffs to Congress could lead to more democratic policymaking [4] - The President has used tariffs to bully other countries for concessions [7] - The President's tariff rates have been subject to frequent changes according to his whims [7]