The "Truth in Tariffs Act" mandates that businesses selling goods to consumers in the United States must clearly and conspicuously display the portion of the price attributable to a covered tariff , identified as a "tariff surcharge." This requirement applies to tariffs, including tariff rate changes, that were imposed on an emergency or discretionary basis by the President and entered into force on or after January 20, 2025. Significantly, the bill provides an exemption for small business concerns , meaning they are not required to disclose these tariff surcharges. The Federal Trade Commission (FTC) is authorized to promulgate necessary regulations to carry out this section and will enforce compliance. Any violation of these provisions will be treated as an unfair or deceptive act or practice under the Federal Trade Commission Act.