H.R. 2459 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Ways and Means, Mar 27, 2025
What this bill does
In plain words · AI-written from the official summaryRemoves presidential trade emergency powers
This bill removes a rule that currently allows the President to impose tariffs of up to 15% on imported goods for up to 150 days when the U.S. faces serious international payment problems. If this bill becomes law, the President would no longer have that specific power to take those emergency trade actions.
How it affects you
This could affect you if you buy imported goods, since the President would lose one tool for imposing tariffs during financial crises. The exact impact would depend on whether the President might have used that power and what goods you purchase.
Read the official summary (Introduced in House, Mar 27, 2025)
Reclaim Trade Powers Act
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 2459
A BILL
Reclaim Trade Powers Act
Sponsor: Rep. Jimmy Panetta (D-CA-19) · Introduced Mar 27, 2025 · Foreign Trade and International Finance · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 27, 2025: “Referred to the House Committee on Ways and Means.”