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NRF backs bill on Congressional review of tariff hikes

30
Jun '19
NRF backs bill on Congressional review of tariff hikes
The US National Retail Federation (NRF) has welcomed the legislation introduced recently to strengthen congressional authority over tariff hikes like those imposed by the US Administration during the past year. The Reclaiming Congressional Trade Authority Act was introduced by Stephanie Murphy, a member of the House Ways and Means Committee’s trade sub-committee.

“We agree with the need to deliver fair and balanced trade deals, but taxing Americans isn’t the answer—especially without a single vote from Congress,” NRF senior vice president for government relations David French said in a statement.

“At a time when American businesses and consumers are facing unprecedented tariffs imposed unilaterally, it’s time to reexamine the appropriate balance on trade policy between Congress and the executive branch. This legislation represents an important step forward. We urge members of both parties to join this effort and protect hardworking Americans from a growing trade war that could destroy thousands of jobs and raise costs for families across the country,” French said.

The measure would limit any new or additional tariffs imposed on national security grounds, including those under Section 232 of the Trade Expansion Act of 1962, the International Emergency Economic Powers Act or the Trading with the Enemy Act, to 120 days unless approved by Congress, the statement said.

The measure would increase and formalize the role of Congress in non-national security tariffs, including those under Section 301 of the US Trade Act of 1974, the law under which recent tariffs on goods from China have been imposed.

The administration would be required to provide Congress with goals and strategy behind proposed tariff actions, and Congress would be able to block the tariffs through a joint resolution of disapproval, subject to presidential veto, NRF said.

The bill would also require the administration to provide Congress with more information on both national security and non-national security tariffs.

A new report prepared for NRF found the proposed new round of tariffs would cost Americans $4.4 billion each year for apparel, $3.7 billion for toys, $2.5 billion for footwear and $1.6 billion for household appliances. (DS)

Fibre2Fashion News Desk – India


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