After failing to stop Donald Trump from unleashing tariffs on national security grounds, the U.S. business community is lining up behind efforts to limit his power to impose them.
The U.S. Chamber of Commerce, Business Roundtable, and two coalitions with dozens of trade associations are backing legislation to require congressional approval before a president imposes such national-security tariffs. Trump used the authority in 2018 to slap duties on steel and aluminum imports, and he's been threatening for months to do the same with foreign-made vehicles and parts.
Similar legislation didn't advance last year, and it's unclear what the prospects are with the new Congress. But the business groups say Trump's metals tariffs, and retaliatory duties which came in response, have hurt U.S. industry, farmers, and workers—and that it's time to assert Congress' constitutional role in trade policy.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
