Sens. Chuck Grassley and Maria Cantwell authored the Trade Review Act of 2025, which would force Trump to notify Congress before enacting a new tariff.

Senators have introduced bipartisan legislation to grant Congress more power over instituting tariffs on other countries following President Trump’s announcement of wide-ranging taxes on nearly

The bill would give Congress the power to kill existing tariffs and require approval of future ones. Bacon says it's identical to what Iowa Sen. Chuck Grassley introduced last week.

U.S. President Donald Trump’s big raise in tariffs has triggered an escalating trade war and sent global markets plummeting

For too long, Congress has delegated its clear authority to regulate interstate and foreign commerce to the executive branch," Grassley said.

President Donald Trump said he was not intentionally fueling a market selloff but gave no indication he’s preparing to claw back the tariff barrage that has wiped trillions in value from US equities.

The fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners. On Sunday, ABC's "This Week" anchor George Stephanopoulos pressed White House National Economic Council Director Kevin Hassett about Trump reposting a video that said he was tanking the markets to force the Fed to lower interest rates.

Goldman Sachs and other firms are warning of a recession. Bill Ackman floated a 90-day tariff timeout. Even the Federal Reserve chair weighed in.

The massive tariffs that President Donald Trump announced for dozens of trading partners Wednesday were pitched as “reciprocal,” simply aiming to match the tariffs other countries charge the United States.