Kaine proposes legislation to counter fears of price increases over Trump's planned tariff hikes

Sen. Tim Kaine (D-Va.) and two other Democratic senators proposed legislation that will fight against President Donald Trump's promised upcoming tax increases on imported goods through the use of tariffs.

Along with Kaine, New Hampshire Sen. Jeanne Shaheen and Oregon Sen. Ron Wyden introduced the "Protecting Americans from Tax Hikes on Imported Goods Act" that aims to prevent rising prices for American consumers.

Trump has promised a 25% tariff on Canada and Mexico imports and a 10% tariff on China imports. Tariff increases have caused lawmakers and some American consumers to worry that the prices of goods will increase.

Trump pledged in his inaugural address that tariffs would be coming and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers. Trump later on Monday said tariffs would "make us rich as hell."

Kaine's proposed legislation aims to fight prices rising for American businesses and consumers.

“Virginians want lower—not higher—costs, but President Trump plans to impose broad-based tariffs, which would raise the price of everyday goods and hurt every American,” said Kaine. “That’s why I’m joining my colleagues in introducing this legislation to make it a lot harder for the President to impose sweeping tariffs, by prohibiting the use of the International Emergency Economic Powers Act for that kind of action.”

The bill would need bipartisan support in Congress, as Republicans currently control both chambers.