No GOUGE Act

The No GOUGE Act would make it illegal for sellers to charge unreasonably high prices on goods subject to tariffs. The bill applies to both final products and components that are tariffed, and covers a five-year period following when a tariff is enacted or announced. Under the proposal, companies could raise prices to cover direct costs caused by tariffs, but would be prohibited from increasing prices beyond those justified costs. The Federal Trade Commission would enforce the law and treat violations as unfair or deceptive practices. Small companies earning less than $100 million in annual U.S. revenue would be exempt from these restrictions. State attorneys general could also bring civil lawsuits on behalf of residents, and the FTC would establish a mechanism for consumers to report suspected violations. The bill would require federal agencies to track price changes on tariffed goods and report annually on enforcement activities.