Bipartisan Bill Introduced Giving President Authority to Lower Tariffs
As China has used economic coercion to punish countries such as Lithuania and Australia, senators are suggesting that the president could lower tariffs or quotas on countries' exports to the U.S. to ease the pain. Sen. Chris Coons, D-Del., and…
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Sen. Todd Young, R-Ind., introduced a bill that would give the president the authority to lower tariffs or modify quotas on imports from a country that is facing economic coercion to make up for lost exports, and to waive some policy requirements to facilitate export financing. Congress would have to be consulted on whether there is economic coercion and how to support the target of that coercion. The support would sunset after two years.