Stop Mexico’s Steel Surge Act

Hozzl · 2024-12-19T09:06:02Z

Explore the details of House Bill 7638 Stop Mexico’s Steel Surge 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.

12/19/2024, 9:06 AM

Summary of Bill HR 7638

Bill 118 hr 7638, also known as the Stop Mexico's Steel Surge Act, is a piece of legislation introduced in the US Congress aimed at addressing the issue of an increase in steel imports from Mexico. The bill seeks to protect the domestic steel industry by imposing tariffs on Mexican steel imports in order to prevent unfair competition and safeguard American jobs.

The bill highlights the concerns of US steel producers who have seen a surge in Mexican steel imports flooding the market, leading to a decline in domestic steel production and job losses in the industry. The legislation argues that these imports are being sold at unfairly low prices due to subsidies and other unfair trade practices, putting American steel manufacturers at a disadvantage.

If passed, the Stop Mexico's Steel Surge Act would authorize the imposition of tariffs on Mexican steel imports in order to level the playing field for domestic steel producers. The bill also calls for increased monitoring and enforcement of trade agreements to ensure that Mexican steel imports comply with fair trade practices. Supporters of the bill argue that it is necessary to protect the US steel industry and preserve American jobs in the face of unfair competition from Mexico. Critics, however, raise concerns about the potential impact of tariffs on consumers and the broader economy, as well as the potential for retaliation from Mexico. Overall, the Stop Mexico's Steel Surge Act is a contentious piece of legislation that highlights the ongoing debate over trade policy and the need to balance the interests of domestic industries with the principles of free trade.

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Current Status of Bill HR 7638

Bill HR 7638 is currently in the status of Bill Introduced since March 12, 2024. Bill HR 7638 was introduced during Congress 118 and was introduced to the House on March 12, 2024. Bill HR 7638's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024

Bipartisan Support of Bill HR 7638

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7638

Primary Policy Focus

Foreign Trade and International Finance

Alternate Title(s) of Bill HR 7638

Stop Mexico’s Steel Surge ActStop Mexico’s Steel Surge ActTo require the Secretary of Commerce to reimpose duties on steel imported into the United States from Mexico, and for other purposes.

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