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

USA119th CongressHR-505| House 
| Updated: 1/16/2025
Jared F. Golden

Jared F. Golden

Democratic Representative

Maine

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This legislation requires the President to impose a new 10 percent ad valorem duty on all goods imported into the United States, effective from the date of enactment. This initial duty serves as a baseline for subsequent annual adjustments. For each calendar year following the initial imposition, the duty will be adjusted based on the United States' trade balance in goods and services from the immediately preceding year. If the U.S. experienced a trade deficit , the duty will increase by an additional 5 percent ad valorem; conversely, if there was a trade balance or surplus , the duty will decrease by 5 percent ad valorem, though it cannot be reduced below zero. It is specified that these newly imposed duties are additional to any other duties already mandated by law for imported goods.
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Timeline

Bill from Previous Congress

HR 118-9827
To impose additional duties on imports of goods into the United States.
Jan 16, 2025
Introduced in House
Jan 16, 2025
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 118-9827
    To impose additional duties on imports of goods into the United States.


  • January 16, 2025
    Introduced in House


  • January 16, 2025
    Referred to the House Committee on Ways and Means.

Foreign Trade and International Finance

Tariffs

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

USA119th CongressHR-505| House 
| Updated: 1/16/2025
This legislation requires the President to impose a new 10 percent ad valorem duty on all goods imported into the United States, effective from the date of enactment. This initial duty serves as a baseline for subsequent annual adjustments. For each calendar year following the initial imposition, the duty will be adjusted based on the United States' trade balance in goods and services from the immediately preceding year. If the U.S. experienced a trade deficit , the duty will increase by an additional 5 percent ad valorem; conversely, if there was a trade balance or surplus , the duty will decrease by 5 percent ad valorem, though it cannot be reduced below zero. It is specified that these newly imposed duties are additional to any other duties already mandated by law for imported goods.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 118-9827
To impose additional duties on imports of goods into the United States.
Jan 16, 2025
Introduced in House
Jan 16, 2025
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 118-9827
    To impose additional duties on imports of goods into the United States.


  • January 16, 2025
    Introduced in House


  • January 16, 2025
    Referred to the House Committee on Ways and Means.
Jared F. Golden

Jared F. Golden

Democratic Representative

Maine

Ways and Means Committee

Foreign Trade and International Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Tariffs