Reclaim Trade Powers Act

Bill: 119-hr-2459
Sponsor: full_name: Rep. Panetta, Jimmy [D-CA-19]
Introduced: 2025-03-27
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2025-03-27
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2025-03-27
action_desc: Introduced in House
text: <p><strong>Reclaim Trade Powers Act</strong></p><p>This bill repeals the statute that directs the President to take certain actions, such as imposing a tariff of up to 15% for up to 150 days on articles imported into the United States, when necessary to address large and serious U.S. balance-of-payments deficits or certain other situations that present fundamental international payments problems.</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 2459 IN THE HOUSE OF REPRESENTATIVES March 27, 2025 Mr. Panetta (for himself, Mr. Beyer , Ms. DelBene , Ms. Sewell , and Mr. Schneider ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Trade Act of 1974 to eliminate the authority to impose certain import surcharges to address balance of payments deficits, and for other purposes.

1. Short title This Act may be cited as the Reclaim Trade Powers Act . 2. Elimination of balance of payments authority Section 122 of the Trade Act of 1974 ( 19 U.S.C. 2132 ) is repealed.