Limiting Presidential Power on Tariffs and Import Quotas
This bill aims to restrict the U.S. President's ability to impose tariffs and import quotas on goods entering the country during emergencies. This means future international trade decisions, which can affect product prices in stores, will require a different legal path, potentially offering more stability and predictability for consumers and businesses.
Key points
The President will not be able to unilaterally impose duties or import quotas under the International Emergency Economic Powers Act.
This change aims to prevent sudden price increases on imported goods that could result from presidential decisions, impacting citizens' living costs.
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