‘Good time to scale back tariff fight’: Trump’s ‘liberation day’ turns 1 as economic trouble looms

The Trump administration imposed sweeping global tariffs one year ago as part of the president’s dealmaking strategy, but it may be time to back them off, economists and legal experts at conservative organizations tell The Lion.

Several economists warned that as the Middle East conflict drags on and supply chains remain stifled, tariffs add “fuel on the fire.” Since the U.S. launched Operation Epic Fury against Iran, the adversary has effectively blocked traffic in the chokepoint known as the Strait of Hormuz, disrupting global supply chains as gas costs have spiked.

Chief Economist of The Heritage Foundation, EJ Antoni, told The Lion that a tariff ceasefire could help ease price pressure as supply bottlenecks persist and costs rise.

“This is a really good time to scale back the tariff fight,” Antoni said. “People have really underestimated just how much these price increases are going to affect the American consumer and the American economy more broadly. So, the last thing you want to do is have any additional fuel on the fire, so to speak.”

Antoni also previously argued that lifting the tariffs could be a “powerful bargaining chip” to increase energy production and stabilize markets.

There is “some indication” that President Donald Trump’s tariff policy has boosted domestic investment, and there’s been progress when it comes to other nations removing trade barriers, though “overall, I’m not sure [the administration has] achieved what was hoped at this point,” he said.

White House Spokesman Kush Desai told The Lion in a statement that “one year ago today, President Trump threw away the illusions of ‘free trade’ to finally put Americans and America First.”

Desai pointed to “astonishing” results since “Liberation Day,” including “over 20 new trade deals, trillions in manufacturing investments, lower drug prices, and lower goods trade deficits,” all of which are aimed at “transforming” global trade.

“As these investment and trade deals continue taking effect, and more get signed, Americans can count on the best being yet to come,” Desai said.

Yet some experts disagree tariffs are a net positive.

Advancing American Freedom’s Plymouth Institute for Free Enterprise Vice President Richard Stern told The Lion that the tariffs have been an “unmitigated disaster.”

Stern pointed to weak net job growth over the past year, countries turning to China as the U.S. presented itself as an “unreliable trade partner,” and “almost no evidence foreigners shouldered the burden at all.” He noted that the international trade agreements made after the tariffs are not binding.

The Supreme Court ruled 6-3 on Feb. 20 that the President cannot impose tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). Shortly after the ruling, President Donald Trump imposed a 10% tariff on virtually all countries under Section 122, though it is expected to expire after 150 days.

The conservative legal organization, New Civil Liberties Alliance (NCLA), filed a lawsuit against the administration on April 3 last year, arguing that using IEEPA to impose tariffs is unconstitutional.

NCLA Senior Litigation Counsel Andrew Morris told The Lion the “IEEPA is an emergency statute. It doesn’t refer to tariffs. We did our homework and saw that Congress had not assigned tariff authority to the President for the reasons set up by Chief Justice Roberts.”

Morris noted that tariffs are one of the first authorities granted to Congress in the Constitution.

“Interestingly, a number of small businesses are the ones that ended up filing the first challenges. They were getting just crushed by these tariffs. They don’t have the wherewithal of some of the larger companies, and they can’t go to the White House and get an appointment,” Morris said, adding that several of the small businesses that the NCLA represents currently have no choice but to import from more affordable foreign manufacturers. “Our clients could have lobbied their member of Congress … [but] they were denied their say in the process.”

The Liberty Justice Center, which filed a suit against the administration last year, says it is working “with the Court of International Trade to ensure that businesses harmed by the unlawful tariffs receive relief as quickly as possible.”

The group estimates $166 billion in tariff payments will be refunded with interest to American importers.