Associated Press: Enter Section 301, which gives the president power to impose – and adjust – tariffs in response to other countries’ trade practices. But the administration must first check procedural boxes – collecting comments and holding hearings. There are no limits on Section 301 tariffs. They expire after four years but can be renewed.
…A switch to rule-bound 301 tariffs would mean “there’s less uncertainty but not no uncertainty,” said Sarah Bianchi, a former U.S. trade official who is now chief strategist of international political affairs at the investment research firm Evercore ISI…