To require that, in cases in which the annual trade deficit between the United States and another country is $10,000,000,000 or more for 3 consecutive years, the President take the necessary steps to create a more balanced trading relationship with that country.
To require that, in cases in which the annual trade deficit between the United States and another country is $10,000,000,000 or more for 3 consecutive years, the President take the necessary steps to create a more balanced trading relationship with that country.CommentsClose CommentsPermalink
IN THE HOUSE OF REPRESENTATIVES
January 4, 2007
Ms. KAPTUR introduced the following bill; which was referred to the Committee on Ways and MeansCommentsClose CommentsPermalink
A BILL
To require that, in cases in which the annual trade deficit between the United States and another country is $10,000,000,000 or more for 3 consecutive years, the President take the necessary steps to create a more balanced trading relationship with that country.CommentsClose CommentsPermalink
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink
SEC. 2. ACTION BY THE PRESIDENT IN CASES OF LARGE CONSECUTIVE ANNUAL TRADE DEFICITS WITH OTHER COUNTRIES.
(a) Action by the President- If in 3 consecutive calendar years the United States has a trade deficit with another country of $10,000,000,000 or more, the President shall take the necessary steps to create a trading relationship with the country that would eliminate or substantially reduce that trade deficit, by entering into an agreement with that country or otherwise.CommentsClose CommentsPermalink
(b) Definition- In this section, the term `trade deficit' means, with respect to the United States and another country, that the value of goods and services that are products of that country and are imported into the United States from that country exceeds the value of goods and services that are products of the United States and are exported from the United States to that country.CommentsClose CommentsPermalink
(1) INITIAL REPORT- Not later than 3 months after the date of the enactment of this Act, the President shall submit to the Congress a report setting forth--CommentsClose CommentsPermalink
(A) the likely reasons for the trade deficits with each country to which subsection (a) applies, as of the date of the report; andCommentsClose CommentsPermalink
(B) the steps the President intends to take under subsection (a) with respect to each such country.CommentsClose CommentsPermalink
(2) ANNUAL REPORTS- The President shall submit to the Congress, not later than December 31 of each year, a report on actions taken to carry out this section.CommentsClose CommentsPermalink
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U.S. Congress - Text of H.R.169 as Engrossed Amendment Senate Balancing Trade Act of 2007
