To repeal section 801 of the Revenue Act of 1916.

H.R. 1073 would repeal a 1916 law that makes it a federal crime for foreign companies to sell imported goods in the United States at prices significantly lower than their market value in their home country. This practice, known as "dumping," is currently illegal under the 1916 Act if it is done with the specific intent to destroy or injure a U.S. industry.

By removing this specific provision, the bill would eliminate the ability for private U.S. companies to sue foreign competitors for criminal damages under this century-old statute. While other modern trade laws and administrative procedures would still allow the government to address unfair pricing, this bill would bring U.S. law into compliance with international trade agreements and prevent individual businesses from pursuing these specific types of criminal lawsuits against importers.