Truth in Tariffs Act

The Truth in Tariffs Act (S 1741) requires most businesses selling goods to U.S. consumers to clearly display the portion of a product's price attributable to new tariffs (specifically tariffs imposed after January 20, 2025) as a separate "tariff surcharge." It exempts small businesses (as defined by the Small Business Act) from this requirement. The Federal Trade Commission (FTC) will enforce this rule under its existing authority, treating violations as unfair or deceptive practices under the FTC Act. This law directly affects retailers and manufacturers selling consumer goods, aiming to make tariff costs transparent to shoppers.