New Toll of Tariffs Act Mandates 60-Day Study on How Recent Tariffs Hit Consumer Prices

This new legislation, officially titled the Toll of Tariffs Act of 2025, doesn’t change any trade policy—it just requires the government to do some serious homework. Specifically, Section 2 mandates that the U.S. International Trade Commission (USITC) conduct a study on the inflationary effects of any new tariffs imposed by executive order since January 20, 2025. Think of it as Congress demanding a receipt for recent trade actions to see exactly how much they’ve cost the average shopper.

The core mission here is to connect the dots between trade policy and your grocery bill. The USITC must analyze how these specific tariffs have impacted the Consumer Price Index for All Urban Consumers (CPI-U)—that’s the standard measure of inflation for most of the country. Crucially, they also need to look at similar price tracking measures for people living outside of major urban areas, ensuring the study captures the cost of living increases whether you’re in a city high-rise or a rural town.

The 60-Day Clock on Consumer Costs

Congress wants this data fast. The USITC has only 60 days from the day this bill becomes law to deliver the full report. This quick turnaround suggests lawmakers are eager to understand the real-world financial consequences of recent trade actions before making future policy moves. For the average person, this study is important because it forces a non-partisan federal agency to quantify how much specific tariffs—on everything from imported appliances to industrial components—are actually adding to the cost of living and doing business.

Why This Matters to Your Wallet

We all know that tariffs—which are essentially taxes on imported goods—can lead to higher prices. This bill aims to move beyond general assumptions and provide concrete data. For example, if a tariff was placed on a specific type of machinery part, the USITC study should estimate how much that added to the cost of producing goods here in the U.S., and ultimately, how much that increased the final price tag for consumers buying those finished products. This analysis will provide a valuable, fact-based look at who bears the cost of trade policy, giving Congress—and the public—the data needed to hold executive actions accountable.