A group of lawmakers recently reintroduced legislation that would enhance the manner in which the United States Trade Representative (USTR) oversees, implements and administers tariffs.
U.S. Reps. Brad Wenstrup (R-OH), Mike Thompson (D-CA), and Terri Sewell (D-AL) recently detailed the For Accurate Import Relief To Aid Retailers and Importers of Foreign Freights (FAIR TARIFF) Act, which would direct the USTR to provide domestic companies time to land goods from market economies in transit before retaliatory tariffs begin.
“When tariffs are enacted, we should not punish American businesses who already have supply or consumer orders en route — a problem I have heard about directly from Ohio businesses,” Wenstrup said. “I am proud to reintroduce the FAIR TARIFF Act to ensure that American companies are not surprised with high fees and penalized on goods already in transit.”
The bill would also refund goods on the water tariffs paid following the rapid implementation of the EU retaliatory tariffs, with the exception of those goods tied to the underlying dispute regarding aircraft.
“When tariffs are imposed on goods in transit, American importers are hurt,” Thompson said. “The Fair Tariff Act will ensure that any penalties are enforced on foreign exporters, rather than American importers. I am proud to introduce this bipartisan bill with Reps. Wenstrup and Sewell to ensure that American companies do not pay any penalties for having goods in transit when tariffs are imposed.”
Sewell said Alabama workers and consumers deserve trade laws that are balanced and fair.
“The bipartisan Fair Tariff Act is a common sense bill that modernizes our trade laws to ensure that tariffs are not placed on goods already in transit,” Sewell said. “I will continue to advocate for legislation that creates a fairer and more equitable trading system.”