Assistance for Firms Harmed by Tariffs on Exports Act

Bill: 117-hr-5289
Sponsor: full_name: Rep. Schneider, Bradley Scott [D-IL-10]
Introduced: 2021-09-17
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2021-09-17
text: Referred to the Subcommittee on Trade.

Summaries:
action_date: 2021-09-17
action_desc: Introduced in House
text: <p><b>Assistance for Firms Harmed by Tariffs on Exports Act</b></p> <p>This bill expands the authority of the Department of Commerce to provide trade adjustment assistance (i.e., assistance provided to companies that are adversely affected by competing imported goods and services) to firms.</p> <p>Specifically, Commerce may provide such assistance to a firm that has experienced a decrease in the export of the firm's articles or services as a result of tariffs imposed on such exports by a foreign country in response to U.S. tariffs imposed on the imports of that country. Such decrease must have contributed importantly to a decline in sales or production.</p> <p>Under current law, Commerce may only provide such assistance to a firm upon a determination that increases of imports of articles or services like or directly competitive with the firm's articles or services contributed importantly to a decline in sales or production.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 5289 IN THE HOUSE OF REPRESENTATIVES September 17, 2021 Mr. Schneider introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Trade Act of 1974 to provide adjustment assistance to firms adversely affected by reduced exports resulting from tariffs imposed as retaliation for United States tariff increases, and for other purposes.

1. Short title This Act may be cited as the Assistance for Firms Harmed by Tariffs on Exports Act . 2. Adjustment assistance for firms Subparagraph (C) of section 251(c)(1) of the Trade Act of 1974 ( 19 U.S.C. 2341 ) is amended to read as follows: (C) either— (i) increases of imports of articles or services like or directly competitive with articles which are produced or services which are supplied by such firm contributed importantly to such total or partial separation, or threat thereof, and to such decline in sales or production; or (ii) (I) exports of articles or services produced or supplied by such firm have decreased as a result, in whole or in part, from tariffs imposed on such exports by a foreign country in response to United States tariffs imposed on the imports of such country pursuant to an action taken under the authority of— (aa) section 232 of the Trade Expansion Act of 1962 ( 19 U.S.C. 1862 ); (bb) section 301 of the Trade Act of 1974 ( 19 U.S.C. 2411 ); or (cc) the International Emergency Economic Powers Act ( Public Law 95–223 ); and (II) the decrease in such exports contributed importantly to such total or partial separation, or threat thereof, and to such decline in sales or production. .