H.R. 6888: Trump Tariff Transparency Act

This bill, named the Trump Tariff Transparency Act, aims to enhance transparency regarding the costs associated with tariffs that have been imposed on imported goods. Here’s a breakdown of the main elements:

Quarterly Reporting Requirements

The Small Business Administration (SBA) will be responsible for generating reports on the costs of tariffs. These reports will be produced quarterly, starting within 90 days after the law is enacted. The SBA will work together with the Bureau of Economic Analysis to compile these reports.

Content of the Reports

• Average Aggregate Costs: Each quarterly report will detail the average total costs of the tariffs that have been imposed since January 20, 2025. This will include the financial impact on both consumers and small businesses.
• Annual Summary: The final quarterly report each year will also provide a comprehensive summary, including the total annual cost of these tariffs to consumers and small businesses.

Objective of the Bill

The main purpose of this legislation is to inform the public about how tariffs affect prices for goods. By making this information available, the bill seeks to provide small businesses and consumers with greater clarity on the economic impact of tariffs imposed on imported products.

Potential Impact

The bill does not directly change any tariff rates or implement new tariffs. Instead, it focuses on creating a systematic way to report the financial effects of existing tariffs, ensuring that the data is accessible to the public for better understanding and decision-making.

Relevant Companies