S 2713
117th Congress
Senate
Foreign Trade and International Finance
Congressional oversight
Legislative rules and procedure
Manufacturing
Trade agreements and negotiations
Market Economy Sourcing Act
Introduced: September 13, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 13, 2021
Read twice and referred to the Committee on Finance.
Sep 13, 2021
Introduced in Senate
Plain-English summary
Market Economy Sourcing Act
This bill limits the content from nonmarket economy countries that may be included in free trade agreement qualifying goods.
A nonmarket economy country is a foreign country that does not operate on market principles of cost or pricing structures, so that sales of merchandise in such country do not reflect the fair price of the merchandise.
The bill requires that, during the five-year period following entry into force of a free trade agreement, no more than 20% of a qualifying good may originate in a nonmarket economy country, and no more than 10% thereafter.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1