Welcome to Capitol Currents: your essential D.C. briefing.

As trade tensions escalate and environmental policies shift, April brings critical developments demanding the attention of fly fishing industry stakeholders. This briefing unpacks the Administration's tariff rollercoaster – from the sweeping "Liberation Day" announcements to the surprise 90-day pause, while highlighting how aluminum fishing reels now face substantial duties across all price points. Meanwhile, competing legislative visions for water management and endangered species protection continue to advance in Congress, with potentially significant implications for the watersheds and fisheries central to our industry's future.

Presidential Action Rollercoaster 

What a month! The Administration's April 2nd "Liberation Day" unleashed sweeping reciprocal tariffs, including a universal 10% baseline with country-specific rates that applied on top of that. Just eight days later, a surprise 90-day pause was announced on most tariffs (except those on Canada and Mexico) until July 9th, creating a brief window for international negotiations while maintaining the baseline 10% rate.

Congressional Pushback Stalls 

Senators Cantwell and Grassley's bipartisan Trade Review Act, which requires congressional approval for tariffs beyond 60 days, after Senate Majority Leader Thune publicly questioned its future, signaling a likely presidential veto. Meanwhile, House Republicans effectively blocked potential votes on emergency declarations used to justify the Canadian and Mexican tariffs through procedural maneuvers in March's continuing resolution.

Steel & Aluminum Reality Check 

The 25% steel and aluminum tariffs that took effect on March 12th are hitting our industry directly. Fishing reels made with aluminum now face substantial duties across all price points. Canadian products face a staggering 50% tariff, with threats of more to come, while the EU plans $28 billion in retaliatory measures on American goods next month.

WATER POLICY SPOTLIGHT: COMPETING VISIONS

Dam Debates Heat Up 

Rep. Newhouse's twin bills, the Defending Our Dams Act and POWER Act, seek to protect the Lower Snake River dams by prohibiting federal funds for breaching studies and blocking the retirement of hydroelectric sources that would raise electricity rates by 5% or more.

Conservation Measures Advance 

On the conservation front, Rep. Levin's Resilient Coasts and Estuaries Act would strengthen the Coastal Estuarine Land Conservation Program, while multiple ESA-related bills, ranging from strengthening protections (ProTECT Act) to streamlining permitting (Endangered Species Act Amendments), are moving through the House.