S. 959: Tariff Transparency Act of 2025

The Tariff Transparency Act of 2025 aims to require the United States International Trade Commission (USITC) to investigate and report on how proposed or announced import duties on goods from Mexico and Canada affect American consumers and businesses.

Key Provisions

• Investigation and Report Requirements

  The USITC will conduct an investigation focusing on three main areas:

  1. The impact on consumer prices due to proposed duties, specifically:
     • 25% duties on various imports from Mexico and Canada.
     • 10% duties on energy imports from Canada.
  2. The effects of potential retaliatory actions by Mexico and Canada towards the U.S., which may include:
     • Retaliatory duties.
     • Export restrictions.
  3. The overall impact of the threat of duties and the resulting uncertainty on business operations in the U.S.

• Elements of the Report

  The report will include detailed assessments of the effects of duties on various consumer goods, which will cover:

  • Food categories (meats, dairy, produce, and beverages).
  • Energy prices (electricity, fuel, heating).
  • Critical minerals used in manufacturing.
  • Vehicles and parts.
  • Housing construction costs.
  • Medical supplies and medications.
  • Apparel and footwear.
  • Consumer electronics.
  • Farming inputs.
  • Defense manufacturing products.

• Assessment of Business Impacts

  In addition to quantitative data, the report will qualitatively assess the consequences of ongoing uncertainty regarding trade duties, evaluating impacts on:

  • Business investments, including R&D and capital deployment.
  • Job creation and employment levels.
  • Contract cancellations.
  • The operations of small businesses.
  • Producer prices.

• Submission Timeline

  The USITC is required to submit the findings of this investigation to Congress within one year after the bill is enacted, ensuring that the report does not contain any confidential business information.

Relevant Companies

• None found