Trade Review Act would require greater checks on tariffs in further sign of congressional disquiet over president’s plans

Summary

Senators Chuck Grassley and Maria Cantwell introduced the bipartisan Trade Review Act of 2025 to reassert Congress’s authority over tariffs, following Donald Trump’s sweeping tariff announcements.

The bill would require the president to justify new tariffs and submit an economic impact analysis. Congress must approve tariffs within 60 days or they expire; it could also revoke them anytime.

Grassley’s support signals growing Republican concern over Trump’s trade policies.

The bill echoes the War Powers Act (1973), underscoring fears that unchecked trade actions harm U.S. allies, exports, and consumers.

  • wirebeadsEnglish
    21·
    3 days ago

    As someone who still has time with the markets and their investments, I’m glad I’m not looking to pull from my investments as of yet.

    That being said, I feel sorry for anyone that’s invested in the US market heavily right now and needs that cash.

    Maybe instead of Trump mocking “Sleepy Joe Biden”, he should stop raping the markets and resign.

    But this is just Trump doing Trump things. Absolute moron of a human being and unfortunately there were more than 77 million bigger morons that followed a rapist blindly into leadership.

    Anyways enjoy your Idaho grown bananas, mangos, and coffee when the tariffs hit next week.

    • barneypiccolo@lemm.eeEnglish
      101·
      3 days ago

      Now’s the time to buy. The wealthy know this, that’s why HitlerPig is doing it. He’s done the same thing each month since his inauguration. It’s deliberate market manipulation.

        • barneypiccolo@lemm.eeEnglish
          41·
          3 days ago

          Wealthy investors know to buy on the dip.

          Of course that’s assumming that there will be a quick recovery. If this bullshit sends us into a depression, they may have outsmarted themselves.

          • TranscendentalEmpire@lemm.ee
            7·
            3 days ago

            Buying the dip does not mean to purchase stock anytime number goes down. It means buy when you think something other than market forces are affecting a stock that you believe will make a quick recovery.

            We are not in dip territory, we are in recession territory. An old saying is don’t try and catch a falling knife. It’s better to let it hit the floor before picking it back up, and we’re still a ways from hitting the floor.

          • brucethemoose@lemmy.world
            6·
            3 days ago

            The S&P 500 is still up year-over-year. There’s a lot of pain on the way as responses and consequences roll out; this isn’t bottoming out in a week.

            • gravitas_deficiency@sh.itjust.worksEnglish
              41·
              3 days ago

              This is the part of the rollercoaster where the ascent finishes and gravity takes over. Of course the long term metrics don’t reflect what’s happening yet.