As if he were not already embroiled with Congress on enough issues involving Executive power, President Nixon last week sent to Capitol Hill a bill that would transfer to the White House much of the authority that Congress traditionally has exercised over U.S. trade policy. If it passes, the President, acting on his own, could:
≫ Raise or lower tariffs on Japanese cameras, German cars or almost any other foreign goods.
≫ Impose quotas on foreign goods−Italian shoes, for example−in order to protect an import-threatened American industry.
≫ Order a temporary surcharge on imports from countries that run a persistent surplus in trade with...