But aides apparently neglected to acronym-check the title - even though attaching cutesy bill titles that spell out the key message of the proposed law has become a staple of legislative practice in the Capitol.
President Trump has reportedly ordered a bill that would grant him the authority to raise USA tariffs as he sees fit, without the approval of Congress or the World Trade Organization (WTO).
The White House told Axios the draft bill was not "actual legislation that the administration was preparing to rollout." .
The leaked draft emerged a few days after Axios reported that Trump has repeatedly told White House officials that he wants to withdraw the US from the WTO.
Canada Hits US With $12.6 Billion In Retaliatory Tariffs
The tariffs include 25 percent on more than 40 USA steel products and 10 percent on about 80 other American products. Trudeau and Trump spoke over the phone on June 29 where they talked about trade and several other topics.
That's right: The President of the United States just issued a big fat FART act. The Axios report says most of the Trump officials who worked up the proposal think it's unrealistic, and that has led to speculation that staffers gave it the unfortunate acronym on objective, notes Business Insider. Trump has requested his Commerce Department study whether to impose additional tariffs on cars, trucks and auto parts imported from Europe and other foreign markets, prompting a warning from the European Union that such an action could lead to retaliation involving some $300 billion in US goods. CNN confirms the existence of the leaked proposal, called the United States Fair and Reciprocal Tariff Act.
The act would allow Trump to ignore the WTO's "most favoured nation" principle, which stops countries trading on different terms with different trading partners unless they have a formal trade agreement, Axios said.
Last Friday the outlet had reported that Trump had asked aides about pulling the US out of the WTO, and said the world had used the organization to "screw the United States".
"And we're not planning anything now, but if they don't treat us properly we will be doing something", he said. A White House spokesperson confirmed that Trump asked his team to work up ideas to "remedy" what he sees as unfair trade laws. Trump reportedly was briefed on the working draft in May.