Truth in Tariffs Act
Sponsored By: Senator Charles Schumer
Introduced
Summary
This bill would require sellers to show the portion of a consumer price caused by certain presidential tariffs and label that amount the "tariff surcharge". The disclosure would take effect 30 days after enactment and would not apply to small businesses as defined in the Small Business Act.
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- Consumers and families would see a clear, labeled "tariff surcharge" so they can tell how much of a purchase price comes from covered tariffs.
- Small businesses would be exempt from the disclosure requirement under the Small Business Act.
- Sellers and retailers would need to display the surcharge on sales; failing to do so would be treated as an unfair or deceptive act and could trigger FTC penalties.
- The Federal Trade Commission would enforce the rule using its existing powers under the FTC Act and could issue regulations to implement the requirement.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tariff surcharge price disclosure for consumers
If enacted, beginning 30 days after enactment sellers would show the part of a product price that is a tariff. That amount would be labeled "tariff surcharge" and shown clearly. The rule would apply to tariffs the President imposed on an emergency or discretionary basis that took effect on or after January 20, 2025. Sales by small business concerns (per section 3 of the Small Business Act) would be exempt. Violations would be treated as unfair or deceptive acts under the FTC Act, and the Federal Trade Commission would enforce the rule and may issue regulations under section 553 of title 5.
Sponsors & CoSponsors
Sponsor
Charles Schumer
NY • D
Cosponsors
Chris Van Hollen
MD • D
Sponsored 5/22/2025
Andy Kim
NJ • D
Sponsored 5/22/2025
Richard Blumenthal
CT • D
Sponsored 5/22/2025
Roll Call Votes
No roll call votes available for this bill.
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