The bill would impose additional duties on goods imported into the United States for each calendar year beginning on or after enactment: 10 percent ad valorem on goods from countries with which the United States has a trade surplus and 15 percent on goods from countries with which it has a trade deficit. These duties would be added to other applicable duties. The President could reduce the additional duty to an amount above zero if the reduction is determined to be in the national interest or national security interest, after consulting specified congressional committees.

FactVote-generated overview; it is not an official CRS summary.