Closing Tariff Loopholes for Goods from Foreign Adversary Countries.
This Act aims to prevent countries subject to tariffs or trade restrictions from circumventing these measures by producing or assembling goods in third countries. It introduces a new definition of country of origin, applying enforcement actions to products manufactured or assembled by entities controlled (at least 25% equity interest) by governments or parties from a list of seven "foreign adversaries." For consumers, this means imported goods that previously avoided higher tariffs may now be subject to them, potentially affecting prices and availability.
Key points
Expanded Country of Origin Definition: Products are treated as originating from an adversary country if manufactured or assembled by an entity controlled by that country or its parties.
Targeted Countries: The list of foreign adversary countries includes China, Russia, Iran, North Korea, Cuba, Venezuela (under Maduro), and Syria.
Trade Enforcement: The goal is to effectively enforce existing tariffs and trade actions, protecting US businesses from unfair competition.
Expired
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