Overview

• The Trade Review Act of 2025 would require congressional approval within 60 days for any new tariffs imposed by the president, or they will expire.
• The bill, co-sponsored by Republican Senator Chuck Grassley and Democrat Senator Maria Cantwell, aims to reclaim congressional authority over trade policy, citing decades of executive overreach.
• President Trump’s tariffs, including a 10% baseline on all imports and higher rates for specific countries, have already caused significant market declines and global backlash.
• The legislation faces steep challenges, with House Speaker Mike Johnson opposing it and President Trump expected to veto it if it passes Congress.
• Global leaders and U.S. lawmakers express concern over the economic instability and potential retaliation triggered by the tariffs, with some Republicans breaking ranks to support measures opposing the president’s trade policies.