Mitchell Hartman

The president just has to assert that the U.S.

faces a balance of payments crisis.

And they don't vary from country to country, so the Trump administration can't use them to punish certain trading partners.

But the new tariffs don't cover everything we import, not by a long shot, says Gary Huffpower at the Peterson Institute for International Economics.

Anything covered by the U.S.-Mexico-Canada trade agreement isn't subject to the new tariff.

Also, food imports like beef, tomatoes, and oranges.

And products already facing high tariffs to protect U.S.

domestic producers, like steel, aluminum, and motor vehicles.

It was more than twice that high until the Supreme Court threw out President Trump's IEPA tariffs last Friday.

I'm Mitchell Hartman for Marketplace.

They were looking to upgrade their vehicle on a financial planning meeting.

They're going to charge the battery when prices are low, and they're going to sell that power when prices are high.

One, we're seeing a loss in negotiating power across the board.

Like wage growth has been declining for both groups.

I think it feels worse because right now the people who are switching jobs are disproportionately people who would not like to be.

Even though the administration's biggest bucket of import taxes has been thrown out, Michael Strain at the American Enterprise Institute says, There are other laws under which President Trump has tariffs.

And Section 232 of the Trade Expansion Act of 1962.

And, says Robert McClelland at the Urban Brookings Tax Policy Center, There are still a number of active investigations on aircraft, industry machinery, medical equipment, wind turbines, and drones.

Which could lead to additional tariffs.

which reduced the average effective tariff rate on foreign imports from around 16% before the Supreme Court's decision down to 9%.