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S 2409 116th Congress Senate Foreign Trade and International Finance Advisory bodies Competitiveness, trade promotion, trade deficits Congressional oversight Free trade and trade barriers International organizations and cooperation Legislative rules and procedure Office of the U.S. Trade Representative Presidents and presidential powers, Vice Presidents Tariffs Trade agreements and negotiations Trade restrictions

United States Reciprocal Trade Act

Introduced: July 31, 2019 Introduced by: Graham, Lindsey Republican · South Carolina See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2019
Read twice and referred to the Committee on Finance.
Jul 31, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

United States Reciprocal Trade Act

This bill allows the President, in certain circumstances, to (1) negotiate with a foreign country for tariff reductions on exported U.S. goods, or (2) impose additional duties on imported goods. Specifically, the President may take these actions if it is determined that the country (1) when importing a good from the United States, applies a higher rate of duty on that good than the rate imposed by the United States when imported from that country; or (2) similarly imposes other, nontariff trade restrictions on that good.

The President must terminate a rate of duty increase under this bill if the country no longer applies such higher rates or nontariff trade restrictions, or if the higher rate is no longer in the interest of the United States.

Congress may nullify a rate of duty increase implemented under this bill through a joint resolution.

This bill is effective for three years, subject to one three-year renewal.

What's happening now July 31, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1