Reclaim Trade Powers Act

Summary

The Reclaim Trade Powers Act removes Section 122 of the Trade Act of 1974, which lets the President impose a tariff of up to 15% for up to 150 days to address large balance‑of‑payments deficits or similar payment problems. By eliminating that provision, the bill ends a specific tool the executive branch can use to respond to international payment pressures. The change affects how the United States can react to trade imbalances and shifts that decision‑making back to Congress.

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