U.S. Rep. Jamie Raskin (D-District 8) wants Americans to know exactly how much President Donald Trump’s tariffs will impact prices.
He introduced legislation last week to require price labeling at large retailers to show how much of an item’s cost is attributable to tariffs, per a press release.
“The bill is called the Truth in Tariffs Act,” Raskin told MCM on Thursday. “It says that if a tariff is placed on a good — which is like a national sales tax — then the price should be displayed with it.”
Raskin noted tariffs have gone up sharply — “Nobody can keep track of what they are for different countries, they’re changing them all the time, and it’s just truth in advertising basically. People should understand it’s not that the businesses have gotten greedy and have suddenly increased prices by 25% or 50%, but it’s attributable to the tariff,” he said.
“It’s always been Congress who imposes tariffs, but now President Trump declared it an emergency and said he needed to unilaterally impose these under the International Emergency Economic Powers Act. It’s never been used for tariffs before, and where’s the emergency?”
