The White House has issued a warning that President Trump is prepared to veto a new bipartisan bill, the Trade Review Act, which mandates congressional approval for new tariffs within 60 days. The Office of Management and Budget (OMB) argues that this legislation would hinder the President's ability to respond effectively to national emergencies and threaten foreign relations. Although the bill has garnered bipartisan support from several Senators, it faces significant challenges in Congress, particularly in overcoming a potential veto which requires a two-thirds approval in both chambers.
The White House's Office of Management and Budget claimed the Trade Review Act would severely constrain the President's ability to use long-recognized authorities to address national emergencies and foreign threats.
Senator Cantwell indicated that the bipartisan nature of the support shows a rising anxiety among lawmakers regarding consumer challenges and the effects of tariffs on the economy.
Despite bipartisan support for the Grassley-Cantwell bill, overcoming President Trump's veto appears unlikely due to the requirement of a two-thirds majority from both chambers of Congress.
The OMB's statement highlighted concerns that the bill would introduce market uncertainty and procedural micromanagement, inhibiting the administration's trade strategies.
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