House Lawmakers Introduce Bill Requiring Congress to Approve Tariffs

House Lawmakers Introduce Bill That Requires Congress to Approve Tariffs

A new bill was introduced in the U.S. House of Representatives that would require the U.S. Congress to approve imposing tariffs based on national security concerns.

A new bill was introduced in the U.S. House of Representatives that would require the U.S. Congress to approve imposing tariffs based on national security concerns.

In an article on its website, SEMA said it supported the legislation, which it said provides necessary checks and balances to ensure that proper weighing of the overall national interest before tariffs or quotas go into effect.

Under current laws, the U.S. Department of Commerce (DOC) conducts an investigation with assistance from the U.S. Department of Defense before a tariff is imposed to determine if imports of certain goods threaten national security. Then, the president may proclaim a trade action, such as a tariff or quota, to adjust those imports.

The Donald Trump administration has used the law to impose a 25% tariff on foreign steel, a 10% tariff on imported aluminum and has also threatened imposing tariffs on auto imports.

Under the new bill, called the Bicameral Congressional Trade Authority Act of 2019,  any potential tariffs that the president seeks to introduce pursuant to an investigation would be submitted to Congress, which would then have 60 days to pass an approval resolution supporting the proposed action. The bill also puts the U.S. International Trade Commission (USITC) rather than the defense department in charge of the exclusion process for tariffs that threaten national security. It says exclusions would be granted on a product-wide and not company-specific basis, according to SEMA.

The bill would also allow Congress to reconsider tariffs and quotas which have been imposed within the last four years. If Congress doesn’t pass an approval resolution within 75 days after the new bill would go into effect, those tariffs and quotas would be repealed.

For more information on the bill, click here.

You May Also Like

Nokian Tyres releases 2023 sustainability report

Highlights of the company’s sustainability actions in 2023 include a commitment to achieve science-based net-zero emissions by 2050.

Nokian-Tyres-sustainability-report

Nokian Tyres recently published its Sustainability Report 2023. According to the report, Nokian Tyres achieved several external sustainability ratings, such as inclusion in the Dow Jones Sustainability Europe Index, platinum medal from EcoVadis, an AAA rating from MSCI and a leadership-level score of A- on the CDP Climate report.

Giti Tire announces winners of STEAM competition

New this year, the winning teams from each division will progress to compete out of state.

Giti-STEAM-Winners
Nexen Tire to be the official tire partner of the San Diego Padres

Nexen Tire will be featured on a variety of marketing assets, including billboards and in-ballpark branding at Petco Park.

Nexen-Tire-Padres
WGH to recall up to 520,000 Terrain Attack, Terrain Pro winter tires

The tires are labeled as snow tires, but do not have sufficient traction to perform in all snow weather conditions, according to the National Highway Traffic Safety Administration.

Recall
K&R Tire Center to host grand opening of new Flint, MI location

The company said it will have representatives from Goodyear, local customers and dealership representatives on hand to celebrate.

KR-Tire-center

Other Posts

Bridgestone Retail Operations rolls out brand refresh for Tires Plus, Hibdon Tires Plus

Updates to the logo include a single-color tire mark; a logo palette comprised of Tires Plus yellow, black and red; and refined typefaces.

Tires-Plus-new-branding
Yokohama’s Advan Sport V105 tires will be OE for Subaru Impreza in Europe, Latin America

Yokohama said the tire enhances the car’s handling stability and comfort while reducing rolling resistance.

Yokohama-Advan-Sport-V105
OTAA to host free training for members in Akron, OH

The association said these workshops are designed to enhance technician’s technical expertise and keep them up-to-date with the latest industry advancements.

Stock-technician-training-1400
Hankook Tire debuts Great Catch Rebate through July 7

Drivers who purchase at least four tires from eligible lines will qualify for savings of up to $120.

2024-Great-Catch-Rebate-1400