Reclaim Trade Powers Act

Key Points

• This bill would repeal Section 122 of the Trade Act of 1974, which currently gives the president authority to impose temporary tariffs or import surcharges of up to 15% for 150 days when the U.S. faces large trade deficits. Removing this power would require any future tariff increases to go through Congress first.
• The bill is sponsored by Sen. Kaine and 12 Democratic co-sponsors, reflecting a push by Congress to reclaim trade authority that was originally delegated to the executive branch. It aims to prevent any president from unilaterally raising import costs without legislative debate and approval.
• The legislation also makes conforming changes to related sections of the Trade Act, cleaning up cross-references to the repealed balance-of-payments authority so the rest of the law remains consistent.
• The bill was referred to the Senate Finance Committee after introduction. As a narrowly focused repeal of one presidential trade tool, its prospects depend on whether bipartisan support emerges for limiting executive tariff authority — something that has historically been difficult to achieve.

Votes

No votes have been recorded for this legislation yet.

Related Bills

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