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USMCA Foreign-Trade Zone Modernization: Investigating Tariff Policies

This act mandates an investigation into tariff policies within foreign-trade zones to assess if US businesses are disadvantaged compared to those in Mexico and Canada. The goal is to identify ways to support US manufacturing and job creation, potentially impacting product availability and consumer prices.
Key points
Requires an investigation to evaluate if current tariff rules negatively affect US manufacturers operating in foreign-trade zones.
The analysis aims to find solutions that level the playing field for US companies against their Mexican and Canadian counterparts.
A report on the investigation is due to Congress within 18 months, potentially leading to changes in tariff regulations.
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Additional Information
Print number: 117_S_2208
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2021-06-24