Congressional Trade Powers Reform Act of 2026

This bill, the Congressional Trade Powers Reform Act of 2026, shifts significant authority over trade actions from the President to Congress by requiring legislative approval before the President can impose tariffs or take other trade measures. It establishes a new Joint Committee on Tariffs and Trade to review presidential proposals and mandates that any trade agreement binding the United States must be explicitly approved by an Act of Congress. Additionally, the legislation repeals specific executive powers to address balance-of-payments issues and foreign discrimination, modifies procedures for national security and import competition cases, and creates an independent Office of the United States Trade Representative outside the Executive Office of the President. The bill also institutes an Inspector General for the new trade office to oversee its operations and requires the President to submit detailed justifications for trade actions to Congress.