Tariff Transparency Act of 2025

Increased Transparency through Information: The report aims to provide a quantitative assessment of how specific duties impact consumer prices for essential goods like food, energy, and medical products (Section 2(a)(1) and Section 2(b)(1)).

Understanding Economic Consequences: The investigation seeks to assess the impact of retaliatory duties or export restrictions on specific groups, including consumers, small businesses, farmers, and ranchers (Section 2(a)(2)).

Assessment of Business Uncertainty: The bill requires a study on how the threat of duties and trade uncertainty affects business investment, job creation, and contract cancellations (Section 2(b)(2)).

Increased Consumer Prices: The bill notes the potential for duties, such as the 25 percent duties on imports from Mexico and Canada or the 10 percent duties on energy imports from Canada, to impact consumer prices (Section 2(a)(1)).

Impact of Retaliation: The investigation considers the possibility of negative impacts on consumers, small businesses, farmers, and ranchers resulting from retaliatory duties or export restrictions imposed by Mexico and Canada (Section 2(a)(2)).

Business Instability: The bill identifies potential negative consequences for businesses caused by the persistent threat of duties, including impacts on business investment, job creation, and contract cancellations (Section 2(b)(2)).