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US HR764

US HR764
United States Reciprocal Trade Act


summary

Introduced
01/24/2019
In Committee
03/01/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To authorize the President to take certain actions relating to reciprocal trade, and for other purposes. This bill allows the President, in certain circumstances, to (1) negotiate with a foreign country for tariff reductions on exported U.S. goods, or (2) impose additional duties on imported goods. Specifically, the President may take these actions if it is determined that the country (1) when importing a good from the United States, applies a higher rate of duty on that good than the rate imposed by the United States when imported from that country; or (2) similarly imposes other, nontariff trade restrictions on that good. The President must terminate a rate of duty increase under this bill if the country no longer applies such higher rates or nontariff trade restrictions, or if the higher rate is no longer in the interest of the United States. Congress may nullify a rate of duty increase implemented under this bill through a joint resolution. This bill is effective for three years, subject to one three-year renewal.

AI Summary

This bill allows the President, in certain circumstances, to (1) negotiate with a foreign country for tariff reductions on exported U.S. goods, or (2) impose additional duties on imported goods from that country. Specifically, the President may take these actions if the country imposes a higher tariff rate or other trade restrictions on U.S. goods than the U.S. imposes on that country's goods. The President must terminate the additional duties if the country removes the higher tariffs or trade restrictions, or if the higher duties are no longer in the U.S. interest. Congress may nullify the President's imposition of additional duties through a joint resolution. This authority is effective for three years, subject to a three-year renewal if Congress does not disapprove.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (28)

Last Action

Referred to the Subcommittee on Trade. (on 03/01/2019)

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