Congress Moves to Reassert Control Over Tariffs Amid Economic Turmoil
In a significant move amid ongoing economic challenges, a bipartisan group of senators, including Michael Bennet, Maria Cantwell, and Chuck Grassley, have introduced a bill aimed at reasserting Congress's role in setting tariffs. The legislation comes at a time when economic instability has prompted some Republicans to advocate for a return of tariff-setting powers to Congress, a move that could potentially alter the current trade dynamics.
The proposed bill has sparked a variety of reactions. Former President Donald Trump has expressed his intention to veto the bill if it reaches his desk, signaling potential resistance from his faction within the Republican Party. This development underscores the deep divisions within the party on economic policy, especially concerning trade and tariffs.
The initiative by Senators Bennet, Cantwell, and Grassley reflects a broader push to restore legislative authority over trade policy, which has been increasingly dominated by executive actions in recent years. As the bill progresses through Congress, its impact on the U.S. economy and international trade relations will be closely watched by stakeholders across the political spectrum.
Related issues news
Can a president impose a tariff?
Although the US Constitution grants Congress the authority to levy taxes, including tariffs, Congress has passed laws allowing the President to impose tariffs for national security reasons unilaterally.
Are tariffs in the constitution?
The Constitution gives Congress the authority to make decisions regarding foreign commerce, including tariffs. This legislation allows the President to use tariffs to respond to emergencies while permitting Congress to weigh the appropriateness of any tariffs that are imposed.
How long have tariffs been around?
Tariffs and excise taxes were authorized by the United States Constitution and recommended by the first United States Secretary of the Treasury, Alexander Hamilton in 1789 to tax foreign imports and set up low excise taxes on whiskey and a few other products to provide the Federal Government with enough money to pay ...
What is the Trade Review Act of 2025?
The Trade Review Act of 2025, modeled after the War Powers Resolution of 1973, would reestablish limits on the President's ability to impose unilateral tariffs without Congress' approval.
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