Bill > HR735

This bill establishes a framework for the President to take reciprocal trade actions against countries with unfair trade practices, specifically targeting those that impose higher tariffs or more restrictive non-tariff barriers on U.S. goods than the United States applies to their goods. The legislation allows the President to negotiate trade agreements or impose equivalent tariff rates on goods from countries with discriminatory trade policies, considering factors such as tariff classifications, duty rates, product characteristics, and competitive relationships. The bill requires the U.S. Trade Representative to provide detailed reports to Congress before entering into any trade agreements, and includes provisions for congressional review and potential disapproval of presidential actions. The authority granted by the bill is initially set for a three-year period, with the possibility of a three-year extension subject to congressional approval. The bill defines non-tariff barriers broadly, including measures like import policies, technical trade barriers, government procurement practices, and lack of intellectual property protection. Importantly, the legislation aims to protect U.S. economic interests by giving the President tools to address what it characterizes as unfair trade practices by global competitors, with a particular focus on promoting reciprocal and fair trade relationships.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/735/all-info