House Republicans clear path for Trump to act on tariff plans
2025-01-24
Category: political

House Republicans are unveiling a new bill to clear a path for President Donald Trump to enact his sweeping tariff plans. First-term Rep. Riley Moore, R-W.Va., is reintroducing the U.S. Reciprocal Trade Act on Friday, which, if passed, would allow Trump to unilaterally make moves on import taxes from both adversaries and allies. He would be required to notify Congress, however, which could file a joint resolution of disapproval against the moves. "American manufacturing has endured decades of decline under the globalist system that has hollowed out our industrial base and shipped countless jobs overseas. Leaders in both political parties deserve blame. But those days are over," Moore said in a statement. TRUMP CONFRONTS BANK OF AMERICA CEO FOR NOT TAKING 'CONSERVATIVE BUSINESS'  Moore said Trump was "the first national politician in my lifetime to recognize this problem, campaign on it, and work to reverse that trend." "With the U.S. Reciprocal Trade Act, we’ll give the executive the leverage necessary to go to bat for the American people and achieve tariff reductions on U.S. goods," he said. Trump released a campaign video in 2023 pledging to work with Congress to pass the Reciprocal Trade Act, declaring, "Under the Trump Reciprocal Trade Act, other countries will have two choices—they’ll get rid of their tariffs on us, or they will pay us hundreds of billions of dollars, and the United States will make an absolute FORTUNE." TRUMP'S PROPOSED TARIFFS ON MEXICO, CANADA, CHINA WILL INCREASE INFLATION, GOLDMAN SACHS WARNS  This week, the president announced that he wanted to impose a 10% tariff on Chinese imports, making good on a campaign promise to use such taxes to lower the U.S. national debt, which is currently over $36 trillion. "We're talking about a tariff of 10% on China, based on the fact that they're sending fentanyl to Mexico and Canada," Trump said Tuesday. "Probably February 1st is the date we're looking at."&nbsp; During his campaign, Trump promised to levy a 60% tariff on goods from China and as much as 20% on other countries the U.S. trades with. He also recently pledged on Truth Social to create an "External Revenue Service" to "collect our Tariffs, Duties, and all Revenue that come from Foreign sources." Trump has praised the U.S. Reciprocal Trade Act by name multiple times, including during a January 2019 meeting with House Republicans, including the bill's former lead, ex-Rep. Sean Duffy, R-Wis. Trump recently nominated Duffy to be secretary of Transportation.  "The United States Reciprocal Trade Act — this legislation will help, finally, to give our workers a fair and level playing field against other countries.&nbsp;Countries are taking advantage of us, whether they think we’re very nice or not so smart.&nbsp; They’ve been doing it for many, many years, and we want to end it," Trump said at the time. CLICK HERE TO GET THE FOX NEWS APP&nbsp; However, not everyone is in agreement that tariffs are an effective way to bolster the U.S. economy, with some economists warning it would only raise costs for consumers. "Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses," Rep. Suzan DelBene, D-Wash., said while unveiling a measure to block Trump from using unilateral tariff powers by declaring a trade emergency.