Reviewing Economic and Protection Objectives for Reciprocal Tariffs Act or the REPORT Act

This bill requires public and congressional notification of certain increases or decreases in a duty (i.e., tariff) imposed by the President on articles imported into the United States. 

Specifically, the President must publish information in the Federal Register within 48 hours of increasing or decreasing a duty on articles imported into the United States pursuant to a law or regulation authorizing modifications to duties on an emergency or discretionary basis. This publication must include (1) notice of such determination, and (2) a detailed justification for such increase or decrease.

Additionally, the Office of the U.S. Trade Representative must brief specified congressional committees within seven days of the President making a determination to modify a duty. The briefing must include the justification for the President's determination.