This bill would eliminate a 1930s trade law that gives the President broad authority to impose tariffs on foreign countries in response to unfair trade practices. The legislation repeals Section 338 of the Tariff Act of 1930 and voids any presidential tariff proclamations issued under that authority, effectively removing the legal foundation for these types of tariffs going forward. The bill also requires the President to refund all tariffs and duties that were collected under this authority, both before and after the law's enactment, affecting importers and businesses that paid these charges. The impact would be significant for companies that import goods and have paid elevated tariffs in recent years, as well as for consumers who may have faced higher prices on imported products. No specific funding amount or timeline for implementing the refunds is specified in the legislation.