Raising Tariffs on Imports from China Act of 2023

Bill: 118-s-1537
Sponsor: full_name: Sen. Hawley, Josh [R-MO]
Introduced: 2023-05-10
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2023-05-10
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-05-10
action_desc: Introduced in Senate
text: <p><b>Raising Tariffs on Imports from China Act of 2023</b></p> <p>This bill directs the President to annually calculate and publish in the Federal Register (1) the total value of articles imported into the United States from China, and (2) the total value of articles exported from the United States to China.</p> <p>If the total value of articles imported into the United States from China exceeds the total value of articles exported from the United States to China for the preceding year, then the President must impose a 25% ad valorem duty on each article imported from China. These additional duties must continue until the total value of articles imported from China is equal to or less than the total value of articles exported to China for the preceding calendar year.</p>

tv_txt: II 118th CONGRESS 1st Session S. 1537 IN THE SENATE OF THE UNITED STATES May 10, 2023 Mr. Hawley introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To require the imposition of additional duties with respect to articles imported from the People's Republic of China until trade between the United States and the People's Republic of China comes into balance.

1. Short title This Act may be cited as the Raising Tariffs on Imports from China Act of 2023 . 2. Imposition of duties to balance trade with the People's Republic of China (a) Calculation of trade with the People's Republic of China Not later than January 31 of each year, the President shall calculate and publish in the Federal Register, for the preceding calendar year— (1) the total value of articles imported into the United States from the People’s Republic of China; and (2) the total value of articles exported from the United States to the People’s Republic of China. (b) Imposition of duties (1) In general If the total value calculated under paragraph (1) of subsection (a) exceeds the total value calculated under paragraph (2) of that subsection for the preceding calendar year, the President shall impose an additional duty with respect to each article imported into the United States from the People's Republic of China of 25 percent ad valorem. (2) Additional duties A duty imposed under paragraph (1) shall be in addition to any duty previously applicable with respect to an article. (c) Continued imposition of duties The duties imposed under subsection (b) with respect to articles imported into the United States from the People's Republic of China shall remain in effect until the total value calculated under paragraph (1) of subsection (a) is equal to or less than the total value calculated under paragraph (2) of that subsection for the preceding calendar year.