Limits on Section 232 national security tariffs

Senate Finance Chairman Chuck Grassley, R-Iowa, expects bipartisan legislation "in the coming weeks" to propose time limits on Section 232 national security tariffs. Grassley's announcement comes days after the one-year anniversary of President Donald Trump imposing 25 percent tariffs on steel and 10 percent tariffs on aluminum via Section 232. The legislation would impose new consultation and reporting requirements through the investigative process to keep lawmakers informed. It would also allow lawmakers to “weigh in on any action” by potentially limiting the lifespan of tariffs or other trade restrictions unless Congress grants an extension. The bill would require the White House to provide reports on how any trade actions are achieving national security objectives. It would also require a “transparent and accountable” process for requesting tariff exclusions.