Trump Creates The ‘F.A.R.T. Act’ & Gets Laughed Off The Internet By Fellow Politician

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On Monday, it was announced that Mr. Trump drafted a new bill related to imposing tariffs on other nations. Trump’s new piece of legislation – the Fair and Reciprocal Tariff Act  – would give him the “unilateral authority to impose tariffs (of unlimited size) on any foreign nation, for any earthly reason.”

Former White House communications director Anthony Scaramucci mocked the bill calling it the “FART Act.” Scaramucci tweeted:

‘WTO has its flaws, but the “United States Fair and Reciprocal Tariff Act,” aka the U.S. FART Act, stinks. American consumers pay for tariffs. Time to switch tactics.’

This is what Twitter had to say to Scaramucci:

On Sunday, Axios published a leaked copy of the trade bill, which would have the U.S. breaking with the rules of the World Trade Organization. According to Axios:

‘The draft legislation is stunning. The bill essentially provides Trump a license to raise U.S. tariffs at will, without congressional consent and international rules be damned.’

The bill essentially ignores two main principles – the first one being that countries can’t set different tariff rates for different countries outside of free trade agreements, and secondly, this would ignore “bound tariff rates,” which each WTO country has already agreed to in previous negotiations.

One source who was asked described the bill as “insane,” saying:

‘The good news is Congress would never give this authority to the president.

‘It’s not implementable at the border. And it would completely remove us from the set of global trade rules.’

Axios reported:

‘Trump was briefed on this draft in late May, according to sources familiar with the situation. Most officials involved in the bill’s drafting — with the notable exception of hardline trade adviser Peter Navarro — think the bill is unrealistic or unworkable. USTR, Commerce and the White House are involved.’

White House spokeswoman Lindsay Walters said:

‘It is no secret that POTUS has had frustrations with the unfair imbalance of tariffs that put the U.S. at a disadvantage. He has asked his team to develop ideas to remedy this situation and create incentives for countries to lower their tariffs. The current system gives the U.S. no leverage and other countries no incentive.’

Walters also said though that no one should consider this bill a done deal. She said:

‘The only way this would be news is if this were actual legislation that the administration was preparing to rollout, but it’s not. Principals have not even met to review any text of legislation on reciprocal trade.’

One smart trade watcher told Axios:

‘The Trump administration should be more worried about not having their current authority restricted rather than expanding authority as this bill would do.’

A bill of this type would certainly wreck the global economy and should never be passed. According to New York Magazine:

‘And yet, at some point, the WTO is almost certain to veto the trade moves that Trump has already made. When that happens, there’s good reason to think that the president might force his congressional allies into a bitter, intra-party fight, by letting his FART loose — no matter how foul it smells to all but himself.’

Featured image by Cheriss May/NurPhoto via Getty Images

 

 

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