HR 505 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis 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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