STABLE Trade Policy Act

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Stopping Tariffs on Allies and Bolstering Legislative Exercise of Trade Policy Act or the STABLE Trade Policy Act This bill requires the President to receive congressional approval in order to proclaim or increase the rates of duty (i.e., tariffs) on articles imported into the United States from covered countries. Under the bill, a covered country is (1) a member country of the North Atlantic Treaty Organization (NATO), (2) a country that has been designated as a major non-NATO ally under the Foreign Assistance Act of 1961 (e.g., Australia, Israel, and Japan), or (3) a country that has in effect a free trade agreement with the United States. Specifically, the President may proclaim a new or additional covered duty (e.g., a duty proclaimed pursuant to Section 232 of the Trade Expansion Act of 1962) on an article imported into the United States from a covered country only if (1) the President submits to Congress a request for authorization to proclaim or increase the duty and the request contains specified information, such as a description of the objective the President seeks to achieve with the action and an assessment of the likely impact on the U.S. economy; and (2) a joint resolution of approval is enacted into law.