H.R. 505

119th CONGRESS 1st Session

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

IN THE HOUSE OF REPRESENTATIVES · January 16, 2025 · Sponsor: Mr. Golden of Maine · Committee: Committee on Ways and Means

Table of contents

• H.R. 505
  • SEC. 1. Imposition of additional duties on imports of goods into the United States

SEC. 1. Imposition of additional duties on imports of goods into the United States

• (a) In general
  • The President shall—
    • impose a duty on imports of any good into the United States in an amount equal to 10 percent ad valorem of the good for each calendar year beginning on or after the date of the enactment of this Act; and
    • for each calendar year beginning after the calendar year referred to in paragraph (1)—
      • if the United States has a deficit in the trade of goods and services generally for the immediately preceding calendar year, increase the duty imposed under paragraph (1) on such good by an additional amount equal to 5 percent ad valorem of the good; or
      • if the United States has a balance or surplus in the trade of goods and services generally for the immediately preceding calendar year, decrease the duty imposed under paragraph (1) on such good by an amount equal to 5 percent ad valorem of the good for each calendar year beginning after the calendar year referred to in paragraph (1), except that the duty imposed under paragraph (1) on such good shall not be reduced below $0.
• (b) Duties To be considered additional duties
  • The duty required by subsection (a) with respect to a good is in addition to any other duty imposed by law with respect to the good.