Bill > S691

This bill, called the "Leveling the Playing Field 2.0 Act," is a comprehensive amendment to the Tariff Act of 1930 that aims to strengthen U.S. trade remedy laws by addressing various issues in antidumping and countervailing duty investigations. The bill introduces several key provisions, including special rules for successive trade investigations that make it harder for foreign producers to avoid duties by slightly modifying their products, new methods for addressing market distortions in foreign countries that can artificially lower production costs, expanded procedures to prevent circumvention of trade orders, and enhanced mechanisms to investigate potential duty evasion. The bill also introduces new requirements for nonresident importers to maintain assets in the United States to ensure they can pay potential duties, allows for investigation of currency undervaluation as a potential subsidy, and provides the Department of Commerce with more flexibility in determining whether merchandise is subject to trade remedy proceedings. Additionally, the bill includes provisions to examine cross-border subsidies, modify how normal value is calculated in trade investigations, and create new certification requirements for importers. The changes are intended to create a more level playing field for U.S. producers by closing potential loopholes in existing trade remedy laws and providing more robust tools for investigating potentially unfair trade practices.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/691/all-info