Kaine & Warnock Introduce Legislation to Repeal Section 122 and End Trump’s Tariffs

WASHINGTON, D.C. - Today, U.S. Senators Tim Kaine (D-VA) and Reverend Raphael Warnock (D-GA) introduced the Reclaim Trade Powers Act, legislation that would end President Donald Trump's indiscriminate 10 percent tariffs on most goods by repealing Section 122 of the Trade Act of 1974. After the Supreme Court ruled last month that President Trump's tariffs under the International Economic Emergency Powers Act (IEEPA) were illegal, President Trump applied tariffs of 10 percent on goods citing Section 122 and continuing to circumvent Congress' constitutional authority over trade. He has promised to raise the broad-based tariffs to 15 percent. This is the first time Section 122 authority has been invoked in its 50-year history.

"Everywhere I go across Virginia, I hear about how costs are too high. Yet, instead of focusing on addressing Americans' concerns, President Trump has doubled down on imposing universal tariffs that are raising prices-relying on an outdated authority that has never been used in history," said Kaine. "I'm introducing this legislation to repeal that outdated authority and provide some relief to the American people from these cost-raising taxes."

"President Trump's tariff policies are wrecking our economy and American families are the ones paying the price," said Reverend Warnock. "This administration promised to protect our workers and bring back manufacturing jobs. Instead, we're seeing higher costs, job losses, and more uncertainty. This commonsense legislation will repeal an out-of-date authority that the President is using to raise prices on Americans. I'm proud to work with Senator Kaine to hold this president in check and put a stop to this madness."

Section 122 was drafted and passed during a time when U.S. currency policy was centered around the convertibility of U.S. dollars or dollar reserves to gold at fixed exchange rates. It was intended for use during times when foreign central banks could potentially rapidly drain U.S. gold reserves and create a dollar crisis. More than 50 years ago, though, the U.S. moved to a floating exchange rate system, making the problems Section 122 was intended to address functionally moot.

President Trump's tariffs have increased costs for American consumers and businesses. Researchers at the Federal Reserve Bank of New York estimate that 90 percent of the costs fall on Americans, and the Congressional Budget Office (CBO) puts that rate as high as 95 percent. If made permanent, the new tariffs would increase the cost of Trump's tariffs on Americans to an average of more than $1,000 per household per the nonpartisan Yale Budget Lab.

Kaine and Warnock have been outspoken against President Trump's new taxes on Americans. Kaine led four successful bipartisan pieces of legislation-one in April 2025 and three in October 2025-to passage in the Senate to nullify Trump's global tariff and levies on Canada and Brazil.

In addition to Kaine and Warnock, the legislation is cosponsored by U.S. Senators Ron Wyden (D-OR), Angus King (I-ME), Chris Coons (D-DE), Peter Welch (D-VT), Mark R. Warner (D-VA), Chris Van Hollen (D-MD), Amy Klobuchar (D-MN), Jacky Rosen (D-NV), Angela Alsobrooks (D-MD), Martin Heinrich (D-NM), and Patty Murray (D-WA). Companion legislation was introduced in the U.S. House of Representatives by Representative Jimmy Panneta (D-CA-19).

Full text of the bill is available here.

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