Republican Senate leaders on Monday downplayed the notion that a bipartisan bill to claw back Congress’s authority over tariffs from President Donald Trump would receive serious consideration.

GOP leaders’ dismissal of a proposal from Sens. Chuck Grassley (R-IA) and Maria Cantwell (D-WA) to require congressional tariff approval came after a third straight day of plunging stock markets in response to Trump’s across-the-board import taxes of at least 10%, with fresh threats to increase them for key trading partners like China.

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