Trump Would Get Expanded Tariff Powers Under New Draft Bill
- ‘Reciprocal Trade’ bill aims tcreate line-by-line taxing power
- Bill face opposition in Congress wary of tariffs’ impact
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President Donald Trump would gain line-by-line power to raise tariffs on individual products if trading partners charge higher import taxes under legislation being mulled by the White House, a move that threatens to unwind decades of global agreements.
The “United States Reciprocal Trade Act”, which some within the White House would like Trump to unveil in his State of the Union address this month, faces an uphill battle in Congress: Republicans and Democrats have been exploring how to restrain Trump’s tariff powers rather than extending them.