This bill asks the U.S. International Trade Commission to study and report back to Congress about how new tariffs on Canadian and Mexican imports are affecting Americans. In February 2025, the President imposed a 25% tax on most goods coming from Canada and Mexico (with a 10% tax on Canadian energy products). The bill wants to know three main things: First, are these tariffs making prices go up for regular consumers at the grocery store and other retailers? Second, if Canada and Mexico fight back with their own tariffs or trade restrictions, how does that hurt American consumers, small business owners, farmers, and ranchers? Third, how is all this uncertainty about trade affecting American companies' ability to do business and make plans for the future?

Basically, this bill is about getting clear information on whether these tariffs are helping or hurting everyday Americans and American businesses. Right now, companies and consumers don't know the full cost of these trade actions, so Congress wants a detailed investigation to understand the real-world impact before deciding what to do next.

Tariff Transparency Act of 2025

Alsobrooks, Angela D.

Tariff Transparency Act of 2025This bill requires the U.S. International Trade Commission to investigate and report to Congress on the impact of additional&nbsp;tariffs on imports from Canada and Mexico. (President Donald&nbsp;J. Trump issued executive orders on February 1, 2025, to impose an additional 25% tariff on most imports from Canada and Mexico. These tariffs applied to all imports, except for Canadian energy or energy resources, which have an additional 10% tariff.)Specifically, the report must assess (1) the impact of these tariffs on consumer prices; (2) the impact of any retaliation (e.g., retaliatory tariffs and export restrictions) imposed by Canada and Mexico on U.S. consumers, small businesses, farmers, and ranchers; and (3) the impact of the threat of tariffs and associated uncertainty with respect to the trade relationship between the United States, Canada, and Mexico on U.S. businesses.