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To impose additional duties on imports of goods into the United States.
12/19/2024, 9:06 AM
Summary of Bill HR 9827
Bill 118 hr 9827, also known as the "Import Duties Act," aims to impose additional duties on imports of goods into the United States. The bill was introduced in the House of Representatives and is currently under consideration by the Ways and Means Committee.
If passed, this legislation would require importers to pay higher duties on certain goods entering the country. The goal of the bill is to protect American industries and workers by making imported goods more expensive, thus encouraging consumers to buy domestically-produced products.
Supporters of the bill argue that it will help level the playing field for American businesses and prevent foreign companies from undercutting domestic prices. They believe that by imposing additional duties on imports, the United States can protect its economy and create more jobs for American workers. Opponents of the bill, however, argue that it could lead to higher prices for consumers and potentially spark a trade war with other countries. They believe that imposing additional duties on imports could harm international trade relations and ultimately hurt the US economy. Overall, the Import Duties Act is a controversial piece of legislation that seeks to address the issue of foreign competition in the US market. It remains to be seen whether the bill will ultimately be passed into law and what impact it will have on the American economy.
If passed, this legislation would require importers to pay higher duties on certain goods entering the country. The goal of the bill is to protect American industries and workers by making imported goods more expensive, thus encouraging consumers to buy domestically-produced products.
Supporters of the bill argue that it will help level the playing field for American businesses and prevent foreign companies from undercutting domestic prices. They believe that by imposing additional duties on imports, the United States can protect its economy and create more jobs for American workers. Opponents of the bill, however, argue that it could lead to higher prices for consumers and potentially spark a trade war with other countries. They believe that imposing additional duties on imports could harm international trade relations and ultimately hurt the US economy. Overall, the Import Duties Act is a controversial piece of legislation that seeks to address the issue of foreign competition in the US market. It remains to be seen whether the bill will ultimately be passed into law and what impact it will have on the American economy.
Congressional Summary of HR 9827
This bill directs the President to impose additional duties (i.e., tariffs) on all imports entering the United States.
Specifically, the President must impose an additional 10% duty on all imports entering the United States.
Additionally, the bill directs the President to increase this duty on imported goods by an additional 5% if the United States has a deficit in the trade of goods and services generally for the immediately preceding calendar year. If the United States has a balance or surplus in the trade of goods and services, then the President must decrease the duty by 5% (except the imposed duty shall not be reduced below $0).
Current Status of Bill HR 9827
Bill HR 9827 is currently in the status of Bill Introduced since September 25, 2024. Bill HR 9827 was introduced during Congress 118 and was introduced to the House on September 25, 2024. Bill HR 9827's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024
Bipartisan Support of Bill HR 9827
Total Number of Sponsors
2Democrat Sponsors
2Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 9827
Primary Policy Focus
Alternate Title(s) of Bill HR 9827
To impose additional duties on imports of goods into the United States.
To impose additional duties on imports of goods into the United States.
Comments
Sponsors and Cosponsors of HR 9827
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