Sen. Wyden introduces bill to curb Trump’s tariff powers

Sen. Ron Wyden, D-Ore., introduced a bill Wednesday that would rein in President Donald Trump’s broad tariff powers by eliminating some of his legal tools for setting import taxes and giving Congress more say over what remains.

Wyden announced the new law a day later slamming Trump For declaring retaliatory 50% tariffs on a wide range of Canadian goods, citing a nearly century-old trade law that is rarely invoked.

“Donald Trump has abused every trade authority he has and is now mining a Great Depression-era law to once again impose massive, unilateral tariffs on the products of one of our closest allies and trading partners,” said Wyden, the top Democrat on the Senate Finance Committee. he said. expression.

“This is yet another shakeup that will raise the cost of living for Americans, their families, and small businesses across the country,” Wyden said, adding that he would introduce a bill to “put Congress back in the driver’s seat.”

The bill has a long shot to pass in Congress, where Republicans hold majorities in both chambers. Even if the bill passes, Trump could veto it.

The U.S. Constitution gives Congress the power to impose tariffs, but over time the legislature has given that authority to the president. important powers Imposition of customs duty on foreign goods. Wyden’s bill, called the “Congressional Commerce Powers Reform Act of 2026,” aims to reverse this trend.

Trump will need Congressional approval for tariff proposals submitted to three authorities known as Sections 301, 201 and 232.

Chapter 301 The Trade Act of 1974 gives the executive branch the authority to impose tariffs in response to foreign trade practices deemed unfair to the United States.

Under Chapter 201 Under the same law, the president can impose tariffs if the U.S. International Trade Commission finds that increased imports seriously threaten domestic industry.

Chapter 232 The Trade Expansion Act of 1962 allows the president to impose tariffs on national security grounds.

Wyden’s bill would also eliminate two tariff authorities that the Senator said are “outdated.”

These: Chapter 122 the 1974 trade act giving the president tariff powers on matters related to international payment issues; And Chapter 338 Under the Tariff Act of 1930, the president can impose tariffs of up to 50% on goods from countries found to discriminate against the United States.

The bill would establish a Congressional “Joint Committee on Tariffs and Trade” where the president must submit tariff proposals. The committee will consist of five members each from the Senate Finance Committee and the House Ways and Means Committee.

The committee will have up to 30 days to review the president’s proposal and decide whether to recommend it to Congress for a vote on a joint resolution within a specified time frame.

It would also increase oversight of the Office of the U.S. Trade Representative by making it a separate agency outside the Executive Office of the President and creating an inspector general within it.

The White House did not immediately respond to CNBC’s request for comment on Wyden’s bill.