U.S. legislators introduce bill to reduce president’s power to levy tariffs

United State legislators have moved to reduce the powers of the president to levy tariffs.

Two bipartisan groups of lawmakers on Wednesday introduced legislation known as the” Bicameral Congressional Trade Authority Act in the Senate and the House of Representatives”

The bills would require Trump to have congressional approval before taking trade actions like tariffs and quotas under Section 232 of the Trade Expansion Act of 1962. The law currently allows the president to impose such tariffs without approval from Capitol Hill.

“The imposition of these taxes, under the false pretense of national security (Section 232), is weakening our economy, threatening American jobs, and eroding our credibility with other nations,” said Republican Senator Pat Toomey of Pennsylvania, co-sponsor of the Senate bill. 

Numerous business and agricultural groups have come out in support of the United States-Mexico-Canada agreement, but have said its benefits will be limited so long as the U.S. tariffs and retaliatory tariffs from Canada and Mexico remain in place.

Also, companies are able to request to exemptions from the steel and aluminum tariffs, but the process has been plagued by delays and uncertainty.

Democratic Senator Mark Warner, who co-sponsored the bill said “Virginia consumers and industries like craft beer and agriculture are hurting because of the President’s steel and aluminum tariffs,” adding that the bill would roll them back to their normal prices.