Morgan Stanley’s economic briefing on Monday, the latest in a series of “tariff diaries” by senior economists including Rajeev Sibal and Michael Gapen, found Trump is unlikely to draw any greater revenue from tariffs than he already has.
Trump quickly pivoted to Section 122 of the Trade Act of 1974 after the Supreme Court ruled against his use of the International Emergency Economic Powers Act (IEEPA).
Morgan Stanley warns Section 122 could face legal challenges similar to those versus the IEEPA, especially given that it has never actually been used since its creation.
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Morgan Stanley’s economic briefing on Monday, the latest in a series of “tariff diaries” by senior economists including Rajeev Sibal and Michael Gapen, found Trump is unlikely to draw any greater revenue from tariffs than he already has.
Trump quickly pivoted to Section 122 of the Trade Act of 1974 after the Supreme Court ruled against his use of the International Emergency Economic Powers Act (IEEPA).
Morgan Stanley warns Section 122 could face legal challenges similar to those versus the IEEPA, especially given that it has never actually been used since its creation.