To be clear, this is going to have to pass the house. Then, Trump will veto it. Then, the senate will need 16 Republican senators (30% of the party) to vote against it. And it's still a toss-up if Trump will even obey it or if he'll executively order customs to continue the Tariffs.
So unless Republicans suddenly grow a spine, which is unlikely given their current strategy is "hide the stock ticket on Fox news" and pretend glorious leader is a genius, this is a token effort that will do nothing.
And even if the tariffs are revoked, we've destroyed our reputation. You think countries will want to continue on like nothing happened after this? The only thing that might stop the impending collapse of the US economy as 180 nations divest from the empire we built is if we were to impeach and convict Trump immediately and set an example that this economic chaos will not be tolerated; that allies are not fair game to bully.
But, honestly, I think that ship has already sailed. It needed to happen immediately, not after a week of testing the waters.