Trump’s new global tariff aims to balance payments, but is it even needed?

 New 10% US import duties took effect Tuesday, following the Supreme Court’s rejection of President Trump’s previous tariff framework. While the administration cites a balance of payments deficit, economists largely disagree, pointing to factors like increased foreign investment. Legal challenges are anticipated due to the statute’s questionable application. New 10% US import duties took effect Tuesday, following the Supreme Court’s rejection of President Trump’s previous tariff framework. While the administration cites a balance of payments deficit, economists largely disagree, pointing to factors like increased foreign investment. Legal challenges are anticipated due to the statute’s questionable application.