Dear Senators Corker and Toomey:
On behalf of National Taxpayers Union (NTU), I write to express our support for your bill, S. 3013. This legislation would amend the Trade Expansion Act of 1962 to require Congressional approval before the President adjusts imports that are determined to threaten to impair national security.
Under this reform, any potential tariffs to be applied under Section 232 would be submitted to Congress and taken up via an expedited procedure to ensure timely consideration. In addition, the amendment includes a two-year reach-back mechanism to capture and harmonize recent trade decisions with this improved approach.
Ongoing trade uncertainty and harsh new tariffs are a serious threat to consumers and the economy that threaten to undermine the growth generated by the Tax Cuts and Jobs Act of 2017. Already, agriculture exports like soy and dairy have experienced massive losses that could hurt the agriculture sector. The cost of automobiles, both those imported and assembled in the U.S., could soar by an added $1,262 to $5,089. Numerous industries, such as boat and farm implement manufacturers have also seen tariffs increase costs, eroding their profitability. This pain promises to grow worse - and to spread to all corners of the economy and family budgets.
Congress needs to take urgent action to stabilize our precarious trade environment. Article I, Section 8 of the U.S. Constitution gives Congress the authority to impose tariffs and regulate foreign commerce. This is an essential power that Congress should use to prevent damaging trade policies that could hurt our economy, farmers, American workers, and consumers.
NTU is pleased to endorse S. 3013, which would reduce the misuse of alleged national security threats for costly, protectionist ends and help more appropriately balance power between the legislative and executive branches. We strongly urge all Senators to cosponsor this legislation and work toward its swift enactment.
Sincerely,
Nan Swift, Director of Federal Affairs