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Economic Impact of Tariff Changes: Mandatory Review Before Implementation

New rules require that any change to import tariffs must first undergo a thorough economic review to assess its impact on the economy. This means that before any changes affect the prices of imported goods, citizens will have access to information about the expected consequences. The goal is to increase transparency and awareness of potential price changes for products available in the market.
Key points
All changes to import tariffs must first be evaluated for their economic impact.
The results of these evaluations will be publicly available before the changes take effect.
This aims to provide greater predictability and information on how tariff changes might affect product prices.
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Introduced
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Additional Information
Print number: 119_HR_4326
Sponsor: Rep. Gottheimer, Josh [D-NJ-5]
Process start date: 2025-07-10
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To require the Congressional Budget Office to conduct an economic review of the economic impact of tariff modifications before implementation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4326.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-07-10.

What are the main provisions?

Key points include:

  • All changes to import tariffs must first be evaluated for their economic impact.
  • The results of these evaluations will be publicly available before the changes take effect.
  • This aims to provide greater predictability and information on how tariff changes might affect product prices.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gottheimer, Josh [D-NJ-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy