If it reached his desk, President Donald Trump would veto a Senate bill that seeks to limit his authority to unilaterally impose tariffs, Axios reported Monday.
The legislation would require the president to notify Congress of impending tariffs within 48 hours of their being imposed, while also mandating that such tariffs receive congressional approval within 60 days. Under the terms of the bill, Congress would also be allowed to withdraw any tariff at any time.
“If passed, this bill would dangerously hamper the President’s authority and duty to determine our foreign policy and protect our national security,” a White House statement of administration policy viewed by Axios said. “If S. 1272 were presented to the President, he would veto the bill.”
Citing a person familiar with his thinking, Axios reported that Trump was needled by the introduction of the measure, which is backed by Sens. Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa.
The legislation, which has reportedly received the support of seven Republican senators, is a bipartisan effort by congressional lawmakers to wrest control of Trump’s trade powers as global financial markets continue their volatile reaction to the president’s reciprocal tariff announcement.
“You don’t get a first introduction and get so many people on board, but I think it shows the anxiety that people have,” Cantwell told CBS’ “Face the Nation” on Sunday.
The odds of the bill passing both chambers of Congress and garnering enough signatures to override a Trump veto appear slim, while House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., seem to be standing by the White House.
“I’m sure if they listen to their constituents, consumer challenges are already starting to surface, and certainly the stock market’s impact on retirement income is shaking a lot of people,” Cantwell said. “So I’m sure my colleagues will hear from them.”
Rep. Don Bacon, R-Neb., confirmed to Politico on Friday that he plans to introduce a companion measure in the House.
While the bills aren’t likely to pass in the near future, Bacon said on Sunday that could soon change.
“It will be harder to pass this in the House, no doubt,” Bacon said. “I think if we get 60 votes in the Senate, they’ll put pressure on the House to look at this. And if we continue to see the stock market go a certain direction, or if we see inflation or unemployment shift in a bad way, I think then this bill becomes a very viable bill.”
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