Q1. In the context of the U.S. Supreme Court's tariff ruling, Section 122 of the Trade Act of 1974 — the statute under which President Trump reimposed tariffs after the IEEPA verdict — empowers the President to:
- A. Impose a temporary import surcharge of up to 15% for 150 days to address large and serious balance-of-payments deficits
- B. Impose tariffs of any rate on imports found to threaten national security
- C. Retaliate with duties against countries engaging in unjustifiable or unfair foreign trade practices
- D. Levy safeguard duties indefinitely against a sudden surge of imports causing injury to a domestic industry