To impose additional duties on imports of goods into the United States.

Bill: 119-hr-505
Sponsor: full_name: Rep. Golden, Jared F. [D-ME-2]
Introduced: 2025-01-16
Policy area: Foreign Trade and International Finance
Subjects: Tariffs
Latest action: action_date: 2025-01-16
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2025-01-16
action_desc: Introduced in House
text: <p>This bill directs the President to impose additional duties (i.e., tariffs) on all imports entering the United States.</p><p>Specifically, the President must impose an additional 10% duty on all imports entering the United States.&nbsp;</p><p>Additionally, the bill directs the President to increase this duty on imported goods by an additional 5% if the United States has a deficit in the trade of goods and services generally for the immediately preceding calendar year. If the United States has a balance or surplus in the trade of goods and services, then the President must decrease the duty by 5% (except the imposed duty shall not be reduced below $0).</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 505 IN THE HOUSE OF REPRESENTATIVES January 16, 2025 Mr. Golden of Maine introduced the following bill; which was referred to the Committee on Ways and Means A BILL To impose additional duties on imports of goods into the United States.

1. Imposition of additional duties on imports of goods into the United States (a) In general The President shall— (1) impose a duty on imports of any good into the United States in an amount equal to 10 percent ad valorem of the good for each calendar year beginning on or after the date of the enactment of this Act; and (2) for each calendar year beginning after the calendar year referred to in paragraph (1)— (A) if the United States has a deficit in the trade of goods and services generally for the immediately preceding calendar year, increase the duty imposed under paragraph (1) on such good by an additional amount equal to 5 percent ad valorem of the good; or (B) if the United States has a balance or surplus in the trade of goods and services generally for the immediately preceding calendar year, decrease the duty imposed under paragraph (1) on such good by an amount equal to 5 percent ad valorem of the good for each calendar year beginning after the calendar year referred to in paragraph (1), except that the duty imposed under paragraph (1) on such good shall not be reduced below $0. (b) Duties To be considered additional duties The duty required by subsection (a) with respect to a good is in addition to any other duty imposed by law with respect to the good.