Congress Could Get 60-Day Veto Power Over New Presidential Tariffs Under Proposed Trade Review Act

This bill, the "Trade Review Act of 2025," proposes a significant change to how import duties (tariffs) are handled. It amends the Trade Act of 1974 to require the President to tell Congress within 48 hours anytime they impose a new tariff or hike an existing one. This notification isn't just a heads-up; it needs to include the reasoning behind the tariff and an assessment of how it might affect U.S. businesses and consumers.

Putting Tariffs on the Clock

The core change here is a 60-day countdown timer. Under Section 2 of the bill, any new or increased presidential tariff automatically expires after 60 days unless Congress steps in and passes a specific "joint resolution of approval." Think of it like needing a congressional green light to keep the tariff going long-term. Conversely, Congress can also proactively kill a tariff within that 60-day window by passing a "joint resolution of disapproval." The bill sets up special expedited procedures to make sure these resolutions get voted on quickly, bypassing some of the usual legislative hurdles.

What does this mean for regular folks and businesses? Imagine you run a small shop importing electronics or materials. A sudden new tariff could instantly raise your costs. This bill means that tariff might only last two months unless Congress explicitly agrees it's a good idea. That adds a layer of review but also potential uncertainty – planning for costs becomes trickier if a tariff might appear and then vanish based on a congressional vote.

The Exceptions to the Rule

It's important to note what isn't covered. The bill specifically excludes antidumping (AD) and countervailing (CVD) duties. These are special tariffs imposed under the Tariff Act of 1930, usually after lengthy investigations, to counteract foreign companies selling goods below cost (dumping) or benefiting from foreign government subsidies. By excluding these, the bill focuses Congress's new review power on tariffs imposed more directly by the President, often for broader strategic or economic reasons rather than specific unfair trade practices.

Balancing Act: Oversight vs. Uncertainty

This legislation essentially inserts Congress more forcefully into day-to-day tariff decisions, aiming for greater oversight (Section 2). It acts as a check on presidential power to unilaterally impact trade and potentially the prices consumers pay or the costs businesses face. However, this new process could also introduce delays or political fights into trade policy. The 60-day window might create planning headaches for businesses caught in the middle, unsure if a tariff impacting their supply chain will stick around. While aiming for transparency, the practical effect could be a trade policy landscape that's harder to predict month-to-month.