The Truth in Tariffs Act requires most businesses to clearly display to consumers how much of a product's price is due to tariffs imposed by the President on or after January 20, 2025. Starting 30 days after the bill becomes law, retailers and sellers must show this "tariff surcharge" separately and prominently on price tags or receipts so shoppers can see the direct cost of tariffs. Small businesses are exempt from this requirement. The Federal Trade Commission will enforce the rule and can penalize companies that fail to comply or provide misleading tariff price information. The bill aims to increase transparency around how tariffs affect what consumers pay at checkout.
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