Section 122 of the Trade Act of 1974 authorizes the U.S. President to address 'large and serious' balance-of-payments deficits by imposing tariffs of up to 15 percent or implementing import quotas, with a time limit of 150 days unless extended by Congress.

Authors

• Person: Inu Manak, Allison J. Smith Organization: Council on Foreign Relations
  Tracking Trump's Trade Deals | Council on Foreign Relations

Sources

• Tracking Trump's Trade Deals | Council on Foreign Relations www.cfr.org Inu Manak, Allison J. Smith · Council on Foreign Relations via serper

Referenced by nodes (3)

• tariff concept
• United States President entity
• Congress entity