Donald Trump’s displeasure with NAFTA and his willingness to slap tariffs on some imports were not obscured during the campaign or during the transition, but now that he’s President, Trump may find that he isn’t the last word on U.S. trade policy — that is, if Senator Mike Lee (R-Utah) has his way.
Lee is a bit weary of extreme adjustments to U.S. trade policy due to the potential ripple effect on the economy. Because of this, he put forth the Global Trade Accountability Act which, as Lee explained in a Forbes op-ed, will limit the power of the executive branch by pushing decisions on tariffs and the cancelation of trade deals to Congress. Under the bill, the President would be able to impose tariffs for a 90 day period for matters of national security, but overall, this would greatly reduce the power of the executive branch on these matters. And that’s where we encounter something of a theme when you recall the REINS Act (which Lee praises in his Forbes article) that will open up more oversight over major regulation. This, of course, has a connection to the secretaries appointed by presidents to run specific departments.
While Lee isn’t on an idealogical island with his desire to pump the brakes on some of the more aggressive proposals regarding trade (Trump is mostly apart from conservative norms on this issue), it’s possible that he’ll run into some opposition with this bill. While an ideological break from President Trump is inevitable on some issues, there are surely members of the GOP majority who want to maintain a sense of peace for as long as possible. And can you blame them? There isn’t a lot of variation in Trump’s language when he squares up against the opposition — be they from the left or the right — and the power of his pulpit has proven to be strong.
Ultimately, Lee may have to reach across the aisle in search of an interesting coalition between more moderate, pro-trade Democrats and conservative Republicans. A coalition that could not just pass the bill but also withstand a veto should President Trump bristle at the notion of having his power limited? Time will tell.
Via: CNN