“To impose additional duties on goods imported into the United States.”
No CRS summary available for this bill.
This section imposes additional ad valorem duties on goods imported into the United States for each calendar year beginning on or after enactment: (1) 10% for goods from countries with which the United States has a trade surplus, and (2) 15% for goods from countries with which the United States has a trade deficit. These duties apply in addition to any other duties imposed by law. The section further authorizes the President to reduce such duties to a percentage greater than zero if determined to be in the national interest or national security interest, subject to prior consultation with the House Committee on Ways and Means and the Senate Committee on Finance.