HR. 505In Committee
To impose additional duties on imports of goods into the United States.
Impose a baseline 10% tariff on all imports and adjust that rate based on the prior year's overall U.S. goods and services trade balance
Plain-English overview
What this bill does
Impose a baseline 10% tariff on all imports and adjust that rate based on the prior year's overall U.S. goods and services trade balance
Key points
- Require a 10 percent import duty
- Increase tariffs for trade deficits
- Reduce tariffs for trade surpluses
Current status
Where it stands
Status
In Committee
Latest action
2025-01-16 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedForeign Trade and International FinanceTariffs