HR 505 · 119th CongressIn Committeecongress.gov ↗

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

What this bill does

AI plain-language summary

This bill requires the President to add a 10% tariff on all goods coming into the United States. If the U.S. bought more from other countries than it sold to them in the previous year, the President must raise the tariff by another 5%. If the U.S. sold more than it bought or broke even, the President must lower the tariff by 5%, but it cannot go below zero.

Introduced

January 16, 2025

Policy Area

Foreign Trade and International Finance

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