Portman, Kind introduce bill to limit tariffs
Today, bipartisan coalitions of senators and House members introduced the Trade Security Act, a bill that would reassert Congressional authority over trade and tariff policy by reforming Section 232 of the Trade Expansion Act of 1962.
The bill would also redesignate national security threat assessments (in regards to Section 232 tariffs) to the Defense Department.
Sens. Rob Portman, R-Ohio; Doug Jones, D-Ala.; Joni Ernst, R-Iowa; Lamar Alexander, R-Tenn.; Dianne Feinstein, D-Calif.; Deb Fischer, R-Neb.; and Kyrsten Sinema, D-Ariz., introduced the bill in the Senate while Reps. Ron Kind, D-Wis.; Terri Sewell, D-Ala.; Jackie Walorski, R-Ind.; and Darin LaHood, R-Ill., introduced it in the House.
“We must hold countries that violate our trade laws accountable, but we must do so in a way that protects American jobs and strengthens the U.S. economy,” said Portman. “I have repeatedly expressed concerns about the misuse of the Section 232 statute to impose tariffs on automobiles and auto parts, and its impact on Ohio jobs and the U.S. economy as a whole. This bipartisan legislation preserves this trade tool while properly placing the national security designation at the Department of Defense and expanding the role of Congress in the process. As a former U.S. trade representative, I know that misusing our trade tools not only hurts our exports and our manufacturers, but also our consumers, so I urge my colleagues to support this bipartisan legislation.”
“This administration’s go-it-alone approach of resolving our trade imbalances has sparked a trade war that is hurting Wisconsin farmers, workers, and families,” said Kind. “The National Security tariff process is being misused, at the cost of our rural and local economies. It is long past time for Congress to reassert its constitutionally granted power in our nation’s trade policy and protect our export power.”
–The Hagstrom Report