Securing America’s Titanium Manufacturing Act of 2024

Bill: 118-s-4015
Sponsor: full_name: Sen. Cortez Masto, Catherine [D-NV]
Introduced: 2024-03-21
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2024-03-21
text: Read twice and referred to the Committee on Finance.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4015 IN THE SENATE OF THE UNITED STATES March 21, 2024 Ms. Cortez Masto (for herself, Mrs. Blackburn , Mrs. Capito , Mr. Manchin , and Mr. Tillis ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To temporarily suspend duties on imports of titanium sponge, and for other purposes.

1. Short title This Act may be cited as the Securing America’s Titanium Manufacturing Act of 2024 . 2. Temporary suspension of duties on imports of titanium sponge (a) In general During the period described in subsection (b), and except as provided by subsection (c), imports of titanium sponge classified under subheading 8108.20.00 of the Harmonized Tariff Schedule of the United States shall enter the United States free of duty. (b) Period described The period described in this subsection is the period— (1) beginning on the date that is 30 days after the date of the enactment of this Act; and (2) ending on the earlier of— (A) December 31, 2031; or (B) the date on which the President terminates, under section 3(a)(3), the duty-free treatment of titanium sponge under subsection (a). (c) Exception The rate of duty provided for in column 2 of subheading 8108.20.00 of the Harmonized Tariff Schedule of the United States on the day before the date of the enactment of this Act shall continue to apply with respect to imports of titanium sponge from Belarus, Cuba, North Korea, and the Russian Federation during the period described in subsection (b). 3. Authority to terminate duty-free treatment based on monitoring of titanium sponge market and national security conditions (a) Authority To terminate suspension of duties (1) In general Not later than 3 years after the date of the enactment of this Act, and annually thereafter until the end of the period described in section 2(b), the President shall determine whether the production of titanium sponge in the United States is sufficient to meet the national security needs of the United States. (2) Consultation period Before making a determination required by paragraph (1), the President shall provide for a period of 60 days during which stakeholders may submit comments relating to the determination. (3) Effect of positive determination If the President determines under paragraph (1) that the production of titanium sponge in the United States is sufficient to meet the national security needs of the United States, the President shall terminate the duty-free treatment of titanium sponge under section 2, effective on the date that is one year after the date of the determination. (b) Authority To modify increase duties (1) In general The President may, notwithstanding section 2(a) and upon consideration of the factors described in paragraph (2) and subject to paragraph (3), proclaim increases in the rate of duty applicable to titanium sponge classified under subheading 8108.20.00 of the Harmonized Tariff Schedule of the United States. (2) Consideration of certain market and security conditions In determining whether to proclaim increases in the rate of duty applicable to titanium sponge under paragraph (1), the President shall consider the following: (A) Increases in imports of titanium sponge from countries specified in section 4872(d)(2) of title 10, United States Code. (B) Increases or decreases in domestic production of titanium sponge. (C) Increases or decreases in domestic production of titanium products downstream from titanium sponge. (D) Trends in employment in titanium sponge and titanium product industries. (E) The impact of titanium sponge market conditions on national security. (3) Maximum rate of duty The President may not increase the rate of duty applicable to titanium sponge under paragraph (1) to a rate that exceeds the bound rate set pursuant to the commitments of the United States as a member of the World Trade Organization.