Bill Summary
The Truth in Tariffs Act is a bill that aims to increase transparency regarding the impact of certain tariffs on the prices of goods. It requires that all sellers in the United States display the portion of a good's price that is due to a covered tariff in a clear and conspicuous manner. This requirement does not apply to sales made by small businesses. The Federal Trade Commission is responsible for creating regulations to enforce this act and has the power to treat violations as unfair or deceptive acts or practices. This act applies to sales that occur 30 days after its enactment and defines a covered tariff as any tariff imposed by the President on an emergency basis or after January 20, 2025. It also defines a small business concern as outlined in the Small Business Act.
Possible Impacts
1. The Truth in Tariffs Act requires all sellers to clearly display the portion of the price of goods that is attributable to a covered tariff. This could affect people by making them more aware of the impact of tariffs on the prices of goods and potentially causing them to reconsider their purchasing decisions.
2. The exemption for small business concerns in the Truth in Tariffs Act could affect people by potentially allowing them to purchase goods at a lower price if the seller is a small business. This could benefit consumers, especially those on a tight budget.
3. The enforcement of this Act by the Federal Trade Commission (FTC) could affect people by providing a means for them to report any unfair or deceptive acts related to tariffs and potentially seek compensation for any harm caused by these actions. This could also serve as a deterrent for businesses who may be tempted to engage in such practices.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3306 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 3306
To ensure transparency with respect to the impact of certain tariffs on
the prices of goods, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 8, 2025
Mr. Raskin (for himself, Mr. Fields, Mr. McGovern, Ms. Simon, Mrs.
Fletcher, Ms. Velazquez, Mr. Doggett, Mr. Garcia of California, Ms.
Kamlager-Dove, Ms. Stansbury, Mr. Carbajal, Mr. Casar, and Ms. Garcia
of Texas) introduced the following bill; which was referred to the
Committee on Energy and Commerce
_______________________________________________________________________
A BILL
To ensure transparency with respect to the impact of certain tariffs on
the prices of goods, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Truth in Tariffs Act''.
SEC. 2. TARIFF IMPACT TRANSPARENCY.
(a) Requirement.--No person may sell to a consumer in the United
States a good without displaying to such consumer, in a clear and
conspicuous manner, the portion of the price of such good that is
attributable to a covered tariff (identified as the ``tariff
surcharge'').
(b) Exemption.--Subsection (a) does not apply to a sale made by a
small business concern.
(c) Regulations.--The Federal Trade Commission may promulgate, in
accordance with section 553 of title 5, United States Code, such
regulations as may be necessary to carry out this section.
(d) Enforcement by Federal Trade Commission.--
(1) Unfair or deceptive acts or practices.--A violation of
this section or a regulation promulgated under this section
shall be treated as a violation of a regulation under section
18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C.
57a(a)(1)(B)) regarding unfair or deceptive acts or practices.
(2) Powers of commission.--The Federal Trade Commission
shall enforce this section and the regulations promulgated
under this section in the same manner, by the same means, and
with the same jurisdiction, powers, and duties as though all
applicable terms and provisions of the Federal Trade Commission
Act (15 U.S.C. 41 et seq.) were incorporated into and made a
part of this Act. Any person who violates this section or a
regulation promulgated under this section shall be subject to
the penalties and entitled to the privileges and immunities
provided in the Federal Trade Commission Act.
(e) Applicability.--This section shall apply to a sale that occurs
on or after the date that is 30 days after the date of the enactment of
this Act.
(f) Definitions.--In this section:
(1) Covered tariff.--The term ``covered tariff'' means a
tariff, including a tariff rate change--
(A) imposed on an emergency or other discretionary
basis by the President; and
(B) that entered into force on or after January 20,
2025.
(2) Small business concern.--The term ``small business
concern'' has the meaning given such term under section 3 of
the Small Business Act (15 U.S.C. 632).
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