The "Tariff Transparency Act of 2025" mandates the United States International Trade Commission (USITC) to conduct an in-depth investigation and submit a comprehensive report to Congress. This report will analyze the economic impact on businesses in the United States from duties, and the threat of duties, on imports from Mexico and Canada. It specifically requires an assessment of the effects on consumer prices from the 25 percent duties proposed or announced by President Trump on imports from Mexico and Canada, as well as 10 percent duties on energy imports from Canada. Furthermore, the investigation will examine the impact on consumers, small businesses, farmers, and ranchers in the United States due to any retaliatory duties or export restrictions imposed by Mexico and Canada. The report must also assess the consequences for U.S. businesses from the persistent threat of duties and the associated uncertainty in the trade relationship between the three countries. This includes evaluating impacts on business investment, job creation, contract cancellations, and producer prices across various sectors. The USITC is required to submit this detailed report within one year of the Act's enactment, ensuring the removal of any confidential business information.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Foreign Trade and International Finance
Tariff Transparency Act of 2025
USA119th CongressS-959| Senate
| Updated: 3/11/2025
The "Tariff Transparency Act of 2025" mandates the United States International Trade Commission (USITC) to conduct an in-depth investigation and submit a comprehensive report to Congress. This report will analyze the economic impact on businesses in the United States from duties, and the threat of duties, on imports from Mexico and Canada. It specifically requires an assessment of the effects on consumer prices from the 25 percent duties proposed or announced by President Trump on imports from Mexico and Canada, as well as 10 percent duties on energy imports from Canada. Furthermore, the investigation will examine the impact on consumers, small businesses, farmers, and ranchers in the United States due to any retaliatory duties or export restrictions imposed by Mexico and Canada. The report must also assess the consequences for U.S. businesses from the persistent threat of duties and the associated uncertainty in the trade relationship between the three countries. This includes evaluating impacts on business investment, job creation, contract cancellations, and producer prices across various sectors. The USITC is required to submit this detailed report within one year of the Act's enactment, ensuring the removal of any confidential business information.