New Tariff Rules: Increased Congressional Oversight on Imports.
This act introduces new rules for imposing duties on goods imported into the U.S. The President will now have to notify Congress of any new duties, and Congress will gain the power to approve or disapprove them. This means more oversight on how tariffs affect product prices and the availability of goods for citizens.
Key points
The President must notify Congress within 48 hours of imposing or increasing a duty, explaining the reasons and assessing the impact on businesses and consumers.
Duties will remain in effect for a maximum of 60 days unless approved by Congress.
Congress can disapprove a duty at any time, causing it to cease immediately.
The act does not apply to anti-dumping and countervailing duties, which follow different rules.
Status:
Introduced
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