Republican Sen. Chuck Grassley and Democratic Sen. Maria Cantwell released a bill on Thursday that would give Congress the authority to control tariffs.

The bill was released one day after President Donald Trump announced a baseline 10% tariff on imports for all U.S. trade partners.

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The Trade Review Act of 2025 would require the president to explain the reason for the tariffs within 48 hours of imposing them. It would also require "an assessment of the potential impact of imposing or increasing the duty on United States businesses and consumers."

The bill also states that the tariffs would expire after 60 days unless Congress passed a joint resolution to extend them. Additionally, Congress would be able to cancel any tariff if it passed a joint resolution before the 60-day expiration date.

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It remains uncertain whether the bill will come up for a vote in the Republican-controlled Senate. Although some Republican lawmakers have voiced concerns about President Trump's use of tariffs, many others continue to support his approach.

President Trump has defended the tariffs as a way to counter what he calls unfair trade practices by other countries. He argues that the policy will strengthen U.S. manufacturing, generate revenue and help reduce the national debt.