Cato Daily Podcast Best of Cato Daily Podcast: Taking Back Congressional Power over Tariffs and Trade
Apr 29, 2025
Rand Paul, a Junior U.S. Senator from Kentucky, advocates for free markets and limited government. He discusses the troubling shift of trade authority from Congress to the White House, warning about the risks of executive overreach. Rand emphasizes the moral imperative of free trade and addresses how tariffs negatively impact consumers and industries. He proposes legislation to restore congressional control over trade policies while examining the implications of increasing U.S. debt and providing a bipartisan blueprint for fiscal responsibility.
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Congress Delegated Trade Power
- Congress delegated much of its trade negotiation power to the White House to expedite trade deals and promote international trade.
- This delegation led to increased trade but also expanded bureaucratic management beyond tariff reductions.
Tariffs Harm Consumers Broadly
- President Trump claims unilateral authority to impose tariffs, which undermines Congress's role.
- Tariffs raise consumer prices and benefit a small group visibly, but harm many unseen consumers nationwide.
Trade Promotes Prosperity and Peace
- International trade enriches both Americans and trading partners, reducing global poverty dramatically.
- Trade fosters peace by intertwining economies, making war less likely.