Donald Trump held the lesson. During his first mandate (2017-2021), the American president had already noted by an aggressive customs policy by reporting rights to aluminum and steel. But at the time the increases had reached an average of 14 % all types of products combined. It is much less than the 25 % decreed unilaterally on March 11, again on steel and aluminum. And above all well below 200 % on European wines and spirits promised this Thursday.
However, the major difference does not reside in figures but in the legal motivations and foundations of Trump taxes. “The new American administration has devoted a regulation,” deciphers lawyer Olivier Dorgans, specializing in economic sanctions at the Ashurst cabinet. This is the so -called ieepa law for International Economic Emergency Powers Act (Law on international economic emergency powers) dating back to 1977 which serves as a tool and justification.
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