TRENTON — A newly introduced bill in the New Jersey Assembly would mandate that retailers disclose the portion of a product’s price attributable to tariffs and import taxes, aiming to increase transparency at the point of sale.
Sponsored by Assemblywomen Annette Quijano (District 20) and Rosaura “Rosy” Bagolie (District 27), the “Tariff Transparency Act” would require retail establishments—both physical and online—to identify the dollar amount or percentage of a product’s retail price stemming from U.S. import tariffs.
The disclosure must appear on a product’s price tag, online listing, or printed receipt, or through another method approved by the Director of the Division of Consumer Affairs. Businesses would also be required to maintain supporting records and be subject to periodic audits for compliance.
“Retail establishments shall disclose the percentage or dollar amount of the retail price of a retail product that is attributable to tariffs,” the bill states.
Retailers generating less than $500,000 in annual revenue and products with tariff impacts below 2% of the final price would be exempt. Wholesale firms and importers would also be required to provide tariff information to their retail partners to ensure accurate reporting.
Fines for violations would not exceed $500 per offense. The law would be phased in over 12 months, beginning with voluntary compliance and later applying first to large retailers.
The bill authorizes the Division of Consumer Affairs to create and enforce regulations, set calculation standards, and publish lists of exempt commodities and businesses.
