Bill > S206

This bill aims to suspend normal trade relations with the People's Republic of China and significantly increase tariff rates on Chinese imports. The legislation seeks to address what Congress views as unfair trade practices by China, including intellectual property theft, state-led economic policies, and chronic trade deficits. Key provisions include automatically revoking China's normal trade relations status, which would subject Chinese imports to much higher duty rates (specifically those in the Harmonized Tariff Schedule's column 2 rates), and implementing a phased approach to duty increases that would gradually reach up to 100% for some goods. The bill also establishes a trust fund to compensate U.S. producers for potential retaliatory actions by China, with provisions to support agricultural producers and other critical sectors impacted by trade disruptions. Additionally, the legislation provides the President expanded authority to further modify duties, impose import quotas, or prohibit certain imports from China if deemed necessary for national security or to address unfair trading practices. The broader context is a congressional assessment that previous engagement strategies with China have been ineffective, and a new approach focused on building economic resilience is now required.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/206/all-info