Bill > HR10127

This bill suspends normal trade relations with China and increases the tariff rates applicable to articles imported from China. Specifically, it: - Suspends China's permanent normal trade relations status, meaning articles from China will no longer be eligible for the lower "column 1" tariff rates, and will instead be subject to the higher "column 2" tariff rates. - Requires the President to establish new tariff rates for articles from China, with a minimum 35% ad valorem duty for most goods and a 100% ad valorem duty for certain sensitive goods. These duty increases will be phased in over 5 years. - Allows the President to further increase duties on Chinese imports if necessary to address U.S. dependence on Chinese imports or penalize unfair Chinese trade practices. - Establishes a trust fund to compensate U.S. producers for lost revenue due to Chinese retaliation, and allocates any remaining funds to the Department of Defense for key military equipment. - Makes changes to the de minimis entry value exemption to exclude articles from "covered nations" like China. - Authorizes additional funding for the International Trade Commission to support its work.