Fair Trade Act of 2026

H.R. 6991, the Fair Trade Act of 2026, would impose new tariffs on goods imported into the United States. Under the bill, imports from countries with which the U.S. has a trade surplus would face a 10 percent tariff, while imports from countries with trade deficits would face a 15 percent tariff. These tariffs would be added on top of any existing duties already applied to those goods.

If enacted, this bill could increase prices for consumers on imported goods and products made with imported materials. The bill would give the President authority to reduce the tariff percentages if deemed appropriate. The legislation is currently in committee and has not yet been voted on by the full House.