United States Reciprocal Trade Act

This bill gives the President new powers to change tariffs for three years, with the option to renew for another three years. The President can negotiate lower tariffs on U.S. goods sold to other countries or add extra taxes on goods imported to the U.S. The President can only do this if another country charges higher tariffs on U.S. goods than the U.S. charges on their goods, or if that country has other trade restrictions on U.S. products. The President must stop these tariff increases if the other country removes their higher rates or restrictions, or if the higher tariffs are no longer good for the U.S. The President must discuss plans with Congress before raising tariffs, and Congress can block these tariff increases with a joint resolution.

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