Rick Scott Unveils Bill Giving Trump Tariff Powers Over Deficit Countries After $100 Billion Refund
Updated
Updated · Fox News · Aug 6
Rick Scott Unveils Bill Giving Trump Tariff Powers Over Deficit Countries After $100 Billion Refund
1 articles · Updated · Fox News · Aug 6
Summary
Rick Scott introduced the Trade Deficit Elimination Act to let Donald Trump impose, raise, cut or suspend tariffs on countries the U.S. runs goods trade deficits with.
The proposal follows the Supreme Court’s rejection of Trump’s universal tariffs under IEEPA and comes one day after the administration refunded $100 billion collected from those duties.
Jamieson Greer would compile an annual watch list of "trade deficit economies," and Trump would consult House and Senate tax-writing committees but would not need fresh congressional approval for each tariff action.
Certain goods would be exempt if they are critical to U.S. supply chains, national security or lack alternative sources, narrowing the bill’s reach to more targeted trade actions.
Kevin Cramer and Tim Sheehy have joined as co-sponsors, framing the measure as a new Article I-based tariff authority aimed at shrinking bilateral deficits and strengthening U.S. leverage in trade talks.