Section 122 of the Trade Act of 1974 gives the President authority to impose tariffs or other trade restrictions to address balance-of-payments problems — essentially, when the country is spending significantly more on imports than it earns from exports. This bill would repeal that authority entirely, removing one of the legal tools the executive branch can use to impose tariffs without direct congressional approval. Supporters see it as reclaiming Congress's constitutional role over trade policy.
Congressional Summary
Reclaim Trade Powers ActThis bill repeals the statute that directs the President to take certain actions, such as imposing a tariff of up to 15% for up to 150 days on articles imported into the United States, when necessary to address large and serious U.S. balance-of-payments deficits or certain other situations that present fundamental international payments problems.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2026-03-11
- Date Added
- 2026-03-30