Restoring Trade Fairness Act

The Restoring Trade Fairness Act would fundamentally change how the United States trades with China by removing China's permanent normal trade relations (PNTR) status, a favorable trade designation that has been in place for decades. This change would result in significantly higher tariffs on Chinese imports. The bill would establish a minimum tariff rate of 35% on all Chinese goods and impose a 100% tariff on specific items including certain minerals, vaccines, drugs, and defense-related products. These tariff increases would be phased in gradually over five years and adjusted annually for inflation.

Beyond tariffs, the bill would also eliminate a current rule that allows small shipments under $800 to enter the country tariff-free if they originate from China, North Korea, Russia, or Iran. The legislation would give the President additional authority to take further trade actions against China and would establish a fund to compensate American producers who lose revenue due to retaliatory trade actions by China. If enacted, these measures would likely increase prices for consumers on many Chinese-made products and could affect supply chains for goods manufactured in or sourced from China.

Currently, this bill has only been introduced in the Senate and has not yet been assigned to a committee for consideration. Most introduced bills do not advance further in the legislative process.