Trump Invokes 1974 Trade Act After Maroš Šefčovič Suspends EU Deal

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Donald Trump invoked Section 122 of the 1974 Trade Act to impose 15% universal tariffs after the USA Supreme Court ruled against his previous trade authority.This decision led Maroš Šefčovič to suspend the EU "Turnberry Deal" while Narendra Modi postponed a $500B purchase of USA goods.Treasury Secretary Scott Bessent described the 150-day measure as a necessary response to a balance-of-payments crisis despite widespread skepticism from economists.Legal experts including Jennifer Hillman warned that using trade deficits to justify these measures may face significant challenges in federal courts.
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