Are President Trump's new 15% global tariffs even legal? Former U.S. Trade Rep weighs in.

• The proposed global tariffs could create 'winners and losers' among trading partners, with countries like Brazil and India potentially seeing a relative reduction in their tariff rates compared to those previously subject to 10% tariffs.
• U.S. manufacturers, farmers, and consumers are expected to face challenges, including increased input costs, retaliatory tariffs on exports, and higher prices.
• The legality of using Section 122 of the Trade Act for these tariffs is questioned, as it's typically reserved for 'balance of payments crises,' which the U.S. currently does not face. Legal challenges are anticipated both domestically and internationally.
• The timing of the 150-day period for these tariffs coincides with election season, potentially influencing congressional decisions on extending these tariffs or pursuing other trade actions like Section 301 and 232 investigations.

The video discusses President Trump's proposed global tariffs, raising the rate to 15% from 10%. Dawn Shackleford, President of Looking Glass Trade, analyzes the legal basis of these tariffs under Section 122 of the Trade Act and their potential economic impact on various countries and the U.S. economy. She anticipates legal challenges and highlights the role of Congress in future tariff policy.