Assistance for Firms Harmed by Tariffs on Exports Act

House Bill 6124 - Assistance for Firms Harmed by Tariffs on Exports Act: Overview, Status, and Impact

Hozzl · 2022-02-08T23:17:34Z

Explore the details of House Bill 6124 Assistance for Firms Harmed by Tariffs on Exports Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

2/8/2022, 11:17 PM

Congressional Summary of HR 6124

Assistance for Firms Harmed by Tariffs on Exports Act

This bill provides financial assistance to companies harmed by retaliatory foreign tariffs.

Specifically, it expands the Trade Adjustment Assistance for Firms program, which currently provides such assistance to companies adversely affected by competing imported goods and services.

The bill authorizes companies that have seen a significant decrease in sales of exported goods or services, in whole or in part as a result of tariffs imposed by foreign countries in response to U.S. tariff increases, to petition the Department of Commerce for trade adjustment assistance.

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Current Status of Bill HR 6124

Bill HR 6124 is currently in the status of Bill Introduced since March 5, 2020. Bill HR 6124 was introduced during Congress 116 and was introduced to the House on March 5, 2020. Bill HR 6124's most recent activity was Referred to the House Committee on Ways and Means. as of March 5, 2020

Bipartisan Support of Bill HR 6124

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6124

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

- Competitiveness, trade promotion, trade deficits

- Tariffs

- Trade adjustment assistance

- Trade agreements and negotiations

- Trade restrictions

- Unemployment

- War and emergency powers

Alternate Title(s) of Bill HR 6124

Assistance for Firms Harmed by Tariffs on Exports Act

To amend the Trade Act of 1974 to provide adjustment assistance to firms adversely affected by reduced exports resulting from tariffs imposed as retaliation for United States tariff increases, and for other purposes.

Assistance for Firms Harmed by Tariffs on Exports Act