Bipartisan senators' bill would require Congress to approve new tariffs

Two senior lawmakers have introduced a bipartisan bill that would reassert Congress' powers over U.S. tariffs, a day after President Donald Trump announced a new wide-ranging tariff strategy during his "Liberation Day" speech on Wednesday.

The bill also requires that Trump provide an explanation of the rationale along with an analysis of the tariffs' potential impact on the U.S. economy. Congress would have to approve the new tariffs within 60 days or allow them to expire.

If enacted, the bill would shift certain trade policymaking powers from the executive branch to the Congress. 

"Building on my previous efforts as Finance Committee Chairman, I'm joining Senator Cantwell to introduce the bipartisan Trade Review Act of 2025 to reassert Congress' constitutional role and ensure Congress has a voice in trade policy," he continued.

Cantwell said in a statement that Trump's tariffs would hurt sectors such as agriculture, manufacturing and technology and have reverberating effects on consumers.

Grassley's home state of Iowa heavily relies on farm crop exports, while Cantwell's Washington state is home to many export-heavy companies such as Boeing.

Trump on Thursday compared the tariffs to a medical operation, and said the "patient lived, and is healing." "The prognosis is that the patient will be far stronger, bigger, better, and more resilient than ever before," he wrote on Truth Social.