Democrat Reintroduces Bill for 10% Tariffs on All Imports
Rep. Jared Golden, D-Maine, has reintroduced a bill to impose a blanket 10% additional tariff on all imports, in line with President-elect Donald Trump's campaign promises.
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The BUILT USA Act would start at 10% tariffs on all goods and services, then either decrease by 5% or increase by 5% in each subsequent year, depending on the trade deficit or surplus. In a news release announcing the bill, Golden cited analysis by the Congressional Budget Office that the proposed tariffs would raise $2.2 trillion in revenue, which he proposed spending to "reduce the deficit, subsidize American-made products and/or put money in middle-class families’ pockets by extending tax cuts set to expire this year." CBO warned in its analysis that its estimates were "uncertain" and that the proposed tariffs would "lead to increases in consumer prices."
Golden originally introduced the legislation to the 118th Congress in September 2024 (see 2409270001). He represents a district that voted for Trump in the past two presidential elections.
“After decades of failed free trade agreements, the hollowing out of American industry and stagnating wages, we owe it to ourselves to ask real questions about what we prioritize in our economy,” Golden said. “The universal tariff -- along with other policies to support domestic energy production, unions and manufacturing -- is designed to reorient our economy from one focused on cheap goods and consumption to one centered on production and innovation.”