Congress

Turkish President Recep Tayyip Erdoğan raised tariffs on U.S.-made goods on Wednesday after President Trump announced via tweet last week he was doubling Section 232 tariffs on Turkish steel.

Mnuchin says it will “strengthen CFIUS and enhance the government’s capacity to protect critical technology while keeping the U.S. open to investment.”

Sen. Sherrod Brown (D-OH) last week introduced legislation that would afford consumers discounts when purchasing cars made in the U.S. and revoke tax benefits for companies that offshore U.S. jobs.

“I am baffled by his continued antagonism towards the U.S. Export-Import Bank, perhaps the most pro-trade agency in the entire federal government.”

“I’m afraid we’re going to have to go down to this road because to basically avoid the pain of tariffs they’re manipulating their currency, which hurts the entire world economy.”

Sen. Rob Portman (R-OH) is upbeat about the prospects for a bill he is pushing to reform a national security statute that has become a favorite trade tool of President Trump's, but fellow Ohio Sen. Sherrod Brown (D) continues to be critical of the idea that Congress should be given a greater role in the Section 232 process.

A bipartisan group of senators on Wednesday introduced legislation to reform Section 232 of the Trade Expansion Act of 1962 by delegating the authority to initiate probes to the Defense Department and giving Congress a more significant role in assessing any proposed restrictions.