HR 505 · To impose additional duties on imports of goods into the United States.
Referred to the House Committee on Ways and Means.
- Introduced
- Jan 16, 2025
- Latest action
- Jan 16, 2025
- Sponsor
- Rep. Jared F. Golden [D-ME-2]
- Policy area
- Foreign Trade and International Finance
- Cosponsors
- 0
Summary
This bill directs the President to impose additional duties (i.e., tariffs) on all imports entering the United States. Specifically, the President must impose an additional 10% duty on all imports entering the United States. Additionally, the bill directs the President to increase this duty on imported goods by an additional 5% if the United States has a deficit in the trade of goods and services generally for the immediately preceding calendar year. If the United States has a balance or surplus in the trade of goods and services, then the President must decrease the duty by 5% (except the imposed duty shall not be reduced below $0).
Recent actions
- Jan 16, 2025 Referred to the House Committee on Ways and Means.
- Jan 16, 2025 Introduced in House
- Jan 16, 2025 Introduced in House
Votes
No recorded votes are available for this bill.