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346 points Kye | 3 comments | | HN request time: 0s | source
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shortrounddev2 ◴[] No.45016842[source]
We should have something like the federal reserve, but for trade policy. A board of governors nominated and confirmed by the senate in 8 year rotations. Politicians cannot be trusted to craft economic policy. I am dubious that they should be crafting fiscal policy either since theyve shown they cant be trusted with that either
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jacobolus ◴[] No.45016943[source]
This is power explicitly reserved for Congress, which is being extra-constitutionally seized by the President (on the pretext of "national security") with no public support. The problem here is electing a lawless president and putting the Congress in charge of a GOP which is full of unprincipled cowards from top to bottom, not the institutional framework.
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philwelch ◴[] No.45017422[source]
The Trade Expansion Act of 1962, which is still current statutory law, empowers the president to set tariffs. There’s an argument that Congress didn’t have the power to pass that law, but they did.
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1. jacobolus ◴[] No.45018162[source]
In my understanding, this is only applicable when "an article is being imported into the United States in such quantities or under such circumstances as to threaten or impair the national security". But "national security" is pretextual in this case.
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2. philwelch ◴[] No.45019839[source]
National security is one of the primary motivations for wanting to protect American industry in the first place; it’s hardly pretextual. And even if it was, the law states that whether or not national security is threatened is up to the judgment of the Secretary of Commerce.
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3. ◴[] No.45019945[source]