Market Economy Sourcing Act

Senate Bill 2713 - Market Economy Sourcing Act: Overview, Status, and Impact

Hozzl · 2022-12-31T05:35:50Z

Explore the details of Senate Bill 2713 Market Economy Sourcing 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.

12/31/2022, 5:35 AM

Congressional Summary of S 2713

Market Economy Sourcing Act

This bill limits the content from nonmarket economy countries that may be included in free trade agreement qualifying goods.

A nonmarket economy country is a foreign country that does not operate on market principles of cost or pricing structures, so that sales of merchandise in such country do not reflect the fair price of the merchandise.

The bill requires that, during the five-year period following entry into force of a free trade agreement, no more than 20% of a qualifying good may originate in a nonmarket economy country, and no more than 10% thereafter.

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Current Status of Bill S 2713

Bill S 2713 is currently in the status of Bill Introduced since September 13, 2021. Bill S 2713 was introduced during Congress 117 and was introduced to the Senate on September 13, 2021. Bill S 2713's most recent activity was Read twice and referred to the Committee on Finance. as of September 13, 2021

Bipartisan Support of Bill S 2713

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 S 2713

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

- Congressional oversight

- Legislative rules and procedure

- Manufacturing

- Trade agreements and negotiations

Alternate Title(s) of Bill S 2713

A bill to amend the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 to require that any trade agreement subject to expedited procedures under that Act contain certain requirements relating to the origination of goods in nonmarket economy countries.

Market Economy Sourcing Act