STABLE Trade Policy Act
STABLE Trade Policy Act
Plain Language Summary
# STABLE Trade Policy Act Summary **What It Does:** This bill would require the President to get Congress's approval before imposing or raising tariffs on imports from allied countries. Currently, presidents can unilaterally impose tariffs under certain trade laws. The bill would apply this requirement to imports from NATO members, major U.S. allies (like Australia, Israel, and Japan), and countries with existing free trade agreements with the United States. **Who It Affects:** The bill primarily affects the President's executive power over trade policy and U.S.
trade relationships with allied nations. It would also impact American businesses and consumers who import goods from these countries, as they could face new tariffs only after Congress approves them. **Current Status:** The bill was introduced by Senator Christopher Coons (D-Delaware) and is currently in committee, meaning it hasn't yet been voted on by the full Senate. This is a form of congressional oversight that would shift some trade authority from the executive branch to Congress, where trade decisions would require broader political agreement.
CRS Official Summary
Stopping Tariffs on Allies and Bolstering Legislative Exercise of Trade Policy Act or the STABLE Trade Policy ActThis bill requires the President to receive congressional approval in order to proclaim or increase the rates of duty (i.e., tariffs) on articles imported into the United States from covered countries. Under the bill, a covered country is (1) a member country of the North Atlantic Treaty Organization (NATO), (2) a country that has been designated as a major non-NATO ally under the Foreign Assistance Act of 1961 (e.g., Australia, Israel, and Japan), or (3) a country that has in effect a free trade agreement with the United States.Specifically, the President may proclaim a new or additional covered duty (e.g., a duty proclaimed pursuant to Section 232 of the Trade Expansion Act of 1962) on an article imported into the United States from a covered country only if (1) the President submits to Congress a request for authorization to proclaim or increase the duty and the request contains specified information, such as a description of the objective the President seeks to achieve with the action and an assessment of the likely impact on the U.S. economy; and (2) a joint resolution of approval is enacted into law.
Latest Action
Read twice and referred to the Committee on Finance.