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119-hr-6991119th CongressWALLET

Fair Trade Act of 2026

Sponsored By: Representative Van Duyne, Beth [R-TX-24]

Introduced

Summary

This bill would impose additional duties tied to bilateral trade balances. It would add ad valorem duties on imports beginning in calendar year 2026: 10 percent for goods from countries with which the United States has a trade surplus and 15 percent for goods from countries with which the United States has a trade deficit.

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  • Importers and U.S. businesses: Would pay these extra ad valorem duties on affected imports, applied in addition to any other duties.
  • Trading partners and exporters: Goods are assigned the 10 percent or 15 percent rate based on whether the U.S. runs a bilateral surplus or deficit with that country.
  • President and congressional committees: The President could reduce the duty percentages to an amount greater than zero for national interest or security but must consult the House Ways and Means Committee and the Senate Finance Committee before doing so.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Higher tariffs on imported goods

If enacted, the bill would add extra tariffs on goods imported into the United States each calendar year after enactment. It would add a 10% ad valorem duty on goods from countries where the United States has a trade surplus and a 15% ad valorem duty on goods from countries where the United States has a trade deficit. These duties would be added on top of any other duties required by law. The President could reduce the extra rate for a good but not to zero. The President must consult the House Ways and Means and Senate Finance committees before using that authority. If enacted, households would likely pay higher prices for many imported goods, while some domestic producers could face less import competition.

Sponsors & CoSponsors

Sponsor

Van Duyne, Beth [R-TX-24]

TX • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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