Bill 119 HR 2464, also known as the "To repeal section 338 of the Tariff Act of 1930" bill, aims to eliminate a specific section of the Tariff Act of 1930. Section 338 of this act currently allows the President of the United States to impose tariffs on imported goods in order to protect domestic industries.
The bill proposes to repeal this section, effectively removing the President's authority to impose tariffs for this purpose. Supporters of the bill argue that this section has been misused in the past, leading to trade disputes and retaliatory tariffs from other countries. They believe that repealing this section will promote free trade and prevent unnecessary trade conflicts.
Opponents of the bill, however, argue that removing this authority from the President could weaken the country's ability to protect domestic industries from unfair competition. They believe that tariffs can be an important tool in leveling the playing field for American businesses and workers.
Overall, the bill has sparked debate among lawmakers and stakeholders about the role of tariffs in trade policy and the balance between protecting domestic industries and promoting free trade. It will be interesting to see how this bill progresses through Congress and what impact it may have on future trade relations.