To impose additional duties on imports of goods into the United States.

This proposal would add an extra charge on all goods coming into the United States. It starts at 10% of the item’s value and is paid in addition to any other import taxes already in place. After the first year, the rate would change each year: it goes up by 5% if the U.S. had an overall trade deficit the year before, or goes down by 5% if the U.S. had a balance or surplus. The extra charge cannot go below zero. A plain-language summary from the Library of Congress matches these details, noting the across‑the‑board 10% duty and the yearly 5% increase or decrease based on the nation’s trade balance.

• Who is affected: Anyone importing goods into the U.S., including businesses and buyers of imported products, since the duty is added at the border.
• What changes: A new 10% import duty, adjusted by 5% each year depending on the prior year’s overall U.S. trade balance; this is on top of existing duties.
• When: Begins for calendar years starting on or after the date this becomes law; adjustments apply each year after the first.