Balanced Trade Act of 2006
Last action on Sep 8, 2006Referred to the House Committee on Ways and Means.
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Summary
Balanced Trade Act of 2006 - Amends the Trade Act of 1974 to require the President whenever there is a trade deficit that exceeds 2% of the gross domestic product (GDP) to: (1) restrict imports; and (2) proclaim, for a determined period, a temporary import surcharge of not less than 20% ad valorem on articles imported into the United States. (Currently, the President has the authority to temporarily impose import surcharges (not to exceed 15% ad valorem) and import restrictions on articles in certain situations of fundamental international payments problems.)
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