Summary
The Restoring Trade Fairness Act proposes a major shift in U.S. trade policy by revoking China's permanent normal trade relations status. If enacted, this would move Chinese imports from the standard low-tariff category to a much higher tariff schedule. The bill aims to set a minimum tax of 35 percent on all Chinese goods, with certain critical items like minerals, vaccines, and defense equipment facing a minimum 100 percent tariff. These increases would be phased in over five years and adjusted annually for inflation.
Beyond tariff increases, the bill would eliminate the de minimis exception for goods from China, Russia, Iran, and North Korea. This means that small shipments valued under $800, which currently enter the U.S. duty-free, would become subject to taxes and fees. For everyday citizens, these changes would likely lead to higher prices for consumer electronics, clothing, and other imported goods. To mitigate the impact on domestic industry, the bill proposes a trust fund to compensate American producers who might lose revenue if China takes retaliatory trade actions against the United States.
AI-generated summary
Lifecycle of the Bill
Introduced in House
Jan 23, 2025
Introduced in House
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Introduced in House
Jan 23, 2025
Introduced in House
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 23, 2025
Congress
119th Congress
Introduced
Jan 23, 2025
