Bill > HR3292

This bill, known as the REPORT Act (Reviewing Economic and Protection Objectives for Reciprocal Tariffs Act), requires the President to provide greater transparency and accountability when modifying import duties. Specifically, the bill mandates that at least 48 hours before implementing any increase or decrease in import tariffs under emergency or discretionary legal authority, the President must publish a notice in the Federal Register that includes a detailed justification for the tariff changes. Additionally, within 7 days of making such a tariff modification, the United States Trade Representative must brief the House Ways and Means Committee and the Senate Finance Committee about the determination, explaining the rationale behind the tariff adjustment. The purpose of this legislation appears to be enhancing congressional oversight and providing more public information about changes to import duties, which can significantly impact trade, economic policy, and domestic industries.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3292/all-info