This bill terminates specified executive orders imposing duties (i.e., tariffs) on certain imports into the United States. It also requires the President to receive congressional approval in order to take certain trade actions.
Specifically, the bill terminates duties imposed under the following executive orders (or any executive orders that are substantially similar to these executive orders):
Executive Order 14257, which imposed a 10% tariff on most imports to the United States and additional duties on specified trading partners;
Executive Order 14193, which imposed a 25% tariff on most imports from Canada (except for Canadian energy or energy resources, which have a 10% tariff); and
Executive Order 14194, which imposed a 25% tariff on most imports from Mexico.
Additionally, the bill prohibits the President from imposing or increasing a duty, quota, or tariff-rate quota on imports entering the United States, or preventing the application of trade agreement concessions on imports, unless a joint resolution of approval is enacted into law.
The bill provides exclusions from this congressional approval requirement, such as imposing antidumping and countervailing duties under the Tariff Act of 1930. (Antidumping laws provide relief to U.S industries and workers that are materially injured or threatened with injury due to imports of like products sold in the U.S. market at less than fair value, while countervailing duty laws provide such relief from imports of products subsidized by a foreign government or public entity.)
