House Bill Would Codify Trump Tariffs, Create China Tariff Schedule
Reps. Jared Golden, D-Maine, and Greg Steube, R-Fla., introduced a bill Aug. 15 that would codify the Trump administration’s 10% tariff baseline on all imported goods (see 2504020068) and create a separate category of tariffs for China.
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Under the Secure Trade Act, the Chinese tariffs would include a 35% tariff on non-strategic goods and a 100% tariff on strategic goods, such as jet engine parts, microdrones used for agricultural and military purposes, and freeze dryers used to preserve sensitive medications. Both tariffs would be phased in over five years.
The 10% global minimum tariff is intended to lower the U.S. trade deficit, raise revenue for the U.S. government and level the playing field for American companies. The lawmakers said the separate tariff schedule for China is needed to address that country’s unfair trade practices, including intellectual property theft, suppressed wages and industrial subsidies.
The Coalition for a Prosperous America, an advocacy group, welcomed the bill, as did American Compass, a think-tank. CPA said the 10% universal tariff, which resulted from a presidential order, would be more likely to withstand a court challenge if it were passed as part of a bill.