REPORT Act

This bill would make tariff changes more transparent. If the government plans to raise or lower import taxes on goods in an emergency or at its discretion, it must post a notice and a clear explanation in the Federal Register at least 48 hours before the change takes effect. Within a week of deciding a change, trade officials must also brief key congressional committees about the decision and the reasons behind it.

What this means for people and businesses: you’d get earlier warning and clearer reasons when import taxes change, which can help with planning prices, orders, and budgets.

• Who is affected: importers, retailers, manufacturers, and consumers who rely on imported goods
• What changes: public notice and a detailed explanation must be posted 48 hours before certain tariff increases or decreases; Congress gets a briefing within 7 days of the decision
• When: the notice is required before the change takes effect; the briefing is required within 7 days after the decision