President’s Authority to Implement Tariffs Explained

1 year 2 months 1 week ago Friday, May 31 2019 May 31, 2019 May 31, 2019 5:10 PM May 31, 2019 in News - Local

MCALLEN – The President has power that is given by Congress to declare emergencies and levee tariffs.

Raising the tariffs on Mexican goods could impact the Rio Grande Valley economy.

The peso isn’t as valuable as it was before the tariff.

The idea is that Mexico is going to be weaker relative to the U.S.; expecting people to sell pesos to buy dollars.

A tariff is a tax on goods imported to another country.

A university economics professor explains the President’s power, but adds that it could be challenged in the courts.

Watch the video above for the full report.

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