Case Problem:
The Trade Expansion Act of 1962 as amended by the Trade Act of 1974 stated that if the secretary of the treasury finds that an “article is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security,” the president is authorized to “take such action . . . as he deems necessary to adjust the imports of the article . . . so that [it] will not threaten to impair the national security.” Does this grant of power to the president by Congress allow the president to establish quotas? If importation of foreign oil were determined to be “a threat to national security,” could the president implement a $3- to $4-per-barrel license fee? See Federal Energy Administration v. Algonquin SNG, Inc., 426 U.S. 548 (1976).
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.