Sen. Wyden introduces bill to curb Trump’s tariff powers

Sen. Ron Wyden, D-Ore., on Wednesday introduced a bill that would rein in President Donald Trump’s broad tariff powers by eliminating some of his statutory tools to set import duties and giving Congress a greater say over the ones that remain.

Wyden unveiled the new legislation a day after slamming Trump for announcing 50% retaliatory tariffs on a wide range of Canadian goods, citing a near-century-old trade law that has rarely, if ever, been invoked.

“Donald Trump has abused every trade authority at his disposal, and he is now excavating a law from the Great Depression to once again impose vast, unilateral tariffs on products from one of our closest allies and trading partners,” Wyden, the top Democrat on the Senate Finance Committee, said in a statement.

“This is yet another shakedown that will raise the cost-of-living for Americans, their families, and small businesses across the country,” Wyden said, adding that he would put forward a bill to “put Congress back in the driver’s seat.”

The bill likely faces long odds of passage in Congress, where Republicans hold majorities in both chambers. Even if it did get through, Trump could veto the bill.

The U.S. Constitution gives Congress the power to impose tariffs, but the legislative branch over time has granted the president significant powers to impose duties on foreign goods. Wyden’s bill, dubbed the “Congressional Trade Powers Reform Act of 2026,” aims to reverse that trend.

It would require Trump to get Congressional approval for proposed tariffs brought under three authorities, known as Sections 301, 201 and 232.

Section 301 of the Trade Act of 1974 empowers the executive branch to impose tariffs in response to foreign trade practices deemed unfair to the U.S.

Under Section 201 of the same law, the president can impose tariffs if the U.S. International Trade Commission finds that surging imports are seriously threatening a domestic industry.

Section 232 of the Trade Expansion Act of 1962 lets the president impose tariffs on national security grounds.

Wyden’s bill would also eliminate two tariff authorities that the Senator says are “outdated.”

They are: Section 122 of the 1974 trade law, which gives the president tariff powers in matters involving international payments problems; and Section 338 of the Tariff Act of 1930, under which the president can impose tariffs up to 50% on the goods of countries found to be discriminating against the U.S.

The bill would establish a Congressional “Joint Committee on Tariffs and Trade” to which the president would be required to submit his tariff proposals. The committee would comprise five members each from the Senate Finance Committee and the House Ways and Means Committee.

The committee would have up to 30 days to review the president’s proposal and decide whether to recommend it to Congress for a vote on a joint resolution within a certain timeframe.

It would also increase oversight of the Office of the U.S. Trade Representative by making it a separate agency outside of the Executive Office of the President, and by establishing an inspector general within it.

The White House did not immediately respond to CNBC’s request for comment on Wyden’s bill.