China Trade Cheating Restitution Act of 2021

China Trade Cheating Restitution Act of 2021

This bill requires the Department of Homeland Security to deposit into special accounts certain interest earned on antidumping and countervailing duties collected by U.S. Customs and Border Protection on or after October 1, 2000. Currently, the applicable date is October 1, 2014. Amounts in special accounts are distributed to affected domestic producers.

Bill 117 HR 6254, also known as the China Trade Cheating Restitution Act of 2021, aims to address unfair trade practices by China that have harmed American businesses and workers. The bill seeks to hold China accountable for intellectual property theft, currency manipulation, and other forms of cheating in trade.

Specifically, the bill calls for the imposition of tariffs on Chinese goods that have been unfairly subsidized or dumped into the US market. It also includes provisions for the establishment of a fund to provide restitution to American companies that have been harmed by China's trade practices.

Additionally, the bill requires the US Trade Representative to conduct an annual review of China's compliance with trade agreements and to take action against any violations. It also calls for increased transparency in trade negotiations with China and for the promotion of fair trade practices globally. Overall, the China Trade Cheating Restitution Act of 2021 aims to level the playing field for American businesses and workers by holding China accountable for its unfair trade practices.