Leveling the Playing Field 2.0 Act
12/20/2024, 9:06 AMSummary of Bill HR 3882
The Leveling the Playing Field 2.0 Act, also known as Bill 118 hr 3882, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address issues of unfair competition in the marketplace by promoting transparency and accountability among large corporations.One key provision of the Leveling the Playing Field 2.0 Act is the requirement for companies to disclose more information about their business practices, including details about their supply chains, labor practices, and environmental impact. This increased transparency is intended to help consumers make more informed choices about the products they buy and to hold companies accountable for their actions.
Another important aspect of the bill is the establishment of a new regulatory body to oversee competition in the marketplace. This agency would have the authority to investigate and take action against companies that engage in anti-competitive behavior, such as price-fixing or monopolistic practices. Overall, the Leveling the Playing Field 2.0 Act aims to create a more level playing field for businesses of all sizes and to protect consumers from unfair practices. Supporters of the bill argue that it will help promote a more competitive and fair marketplace, while critics raise concerns about potential regulatory burdens on businesses. The bill is currently being debated in Congress, and its ultimate fate remains uncertain.
Congressional Summary of HR 3882
Leveling the Playing Field 2.0 Act
This bill addresses unfair trade practices by making various changes to U.S. antidumping and countervailing duty law. Antidumping provides relief to U.S industries and workers that are materially injured or threatened with injury due to imports of like products sold in the U.S. market at less than fair value, while countervailing duty provides such relief from imports of products subsidized by a foreign government or public entity.
Specifically, the bill establishes a process for successive antidumping and countervailing duty investigations. Successive investigations may be concurrent (an ongoing investigation of the same product) or recently completed (not more than two years before the date of the initiation of the successive investigation). Further, the bill establishes a time line for the Department of Commerce to issue determinations in successive investigations.
Among other provisions, the bill authorizes Commerce to
- apply countervailing duty law to subsidies provided by a foreign government or public entity to a company operating in a third country,
- use another method for calculating the cost of production in specific circumstances, and
- require importers to provide a certification that the imported merchandise is not subject to an antidumping or countervailing duty order.
Additionally, the bill statutorily establishes procedures for Commerce to conduct circumvention inquiries, including by specifying the deadlines for preliminary and final determinations.
The bill also provides statutory authority for Commerce to investigate currency undervaluation as a countervailable subsidy.
