What are Section 122, 301 and 232 tariffs Trump is considering?

The U.S. President is contemplating the imposition of tariffs under Sections 122, 301, and 232 of various trade acts, targeting countries perceived to be undermining U.S. economic interests. Section 122 of the Trade Act of 1974 allows for tariffs up to 15% to address significant balance-of-payments deficits. Section 301 enables the U.S. to retaliate against unfair trade practices, while Section 232 pertains to tariffs on imports that threaten national security. This potential policy shift comes amid ongoing trade tensions and is aimed at addressing concerns over trade imbalances and protecting domestic industries. The implications of such tariffs could be far-reaching, affecting international trade dynamics and relations with key trading partners, particularly in the context of recent disruptions in global supply chains. As the U.S. administration weighs these options, stakeholders in various sectors are closely monitoring developments, aware that such measures could have significant economic repercussions both domestically and internationally.