Bill 119 s 151, also known as the "Exclusion of Duties and Tariff-Rate Quotas from the International Emergency Economic Powers Act," is a proposed piece of legislation in the US Congress. The bill aims to remove the authority to impose duties and tariff-rate quotas from the International Emergency Economic Powers Act (IEEPA).
The IEEPA is a law that grants the President of the United States the authority to regulate international commerce in response to an emergency declared by the President. This includes the ability to impose duties and tariff-rate quotas on imports and exports.
However, some members of Congress believe that this authority should be excluded from the IEEPA. They argue that the power to impose duties and tariff-rate quotas should be reserved for Congress, as it is a key aspect of trade policy that should be subject to legislative oversight.
If passed, Bill 119 s 151 would effectively limit the President's ability to impose duties and tariff-rate quotas under the IEEPA. This could have significant implications for US trade policy and the President's ability to respond to international economic emergencies.
Overall, the bill raises important questions about the balance of power between the executive and legislative branches in matters of trade policy. It will be interesting to see how this legislation progresses through Congress and what impact it may have on future trade relations.