To establish a Tariff Response and Damages to Exports fund, and for other purposes.
Sponsored By: Representative Letlow
Introduced
Summary
Creates a TRADE Fund to pay U.S. agricultural producers for trade-related export losses. This bill would let the President deposit certain import duties into a Treasury fund that the Secretary of Agriculture could use to pay farmers and ranchers harmed by lost exports, foreign trade barriers, or higher input costs.
Show full summary
- Farmers and ranchers: Eligible for direct payments to cover losses from decreased exports, tariffs or non-tariff barriers, and rising costs for production inputs.
- Treasury and the President: Allows the President to deposit duties on imports classified under chapters 1–24 of the Harmonized Tariff Schedule into the TRADE Fund, and those amounts would be available to USDA without another appropriation.
- USDA and oversight: The Secretary of Agriculture would make payments and must report to congressional agriculture and appropriations committees within 60 days after each fiscal year on transfers, economic impacts, and assistance provided. The authority ends on September 30, 2030, and any unobligated balances then are rescinded.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tariff-funded aid for farmers
This bill would create a fund to pay agricultural producers hurt by trade shocks. Money would come from duties on imported farm and food goods (HTS chapters 1–24) that the President chooses to deposit. The Agriculture Secretary could make direct payments for losses from lower exports, foreign tariffs or other barriers, or higher input costs. Funds would be available without new annual appropriations, and the Secretary would report to Congress within 60 days after any fiscal year with payments. The authority would end on September 30, 2030, and any unused money then would be rescinded.
Sponsors & CoSponsors
Sponsor
Letlow
LA • R
Cosponsors
Fields
LA • D
Sponsored 6/30/2025
Higgins (LA)
LA • R
Sponsored 6/30/2025
Roll Call Votes
No roll call votes available for this bill.
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