S.177 - Global Trade Accountability Act of 2017115th Congress (2017-2018) |
|Sponsor:||Sen. Lee, Mike [R-UT] (Introduced 01/20/2017)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 01/20/2017 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.177 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (01/20/2017)
Global Trade Accountability Act of 2017
This bill amends the Trade Act of 1974 to define "unilateral trade action" to mean any of the following actions taken with respect to the importation of an article pursuant to specified trade laws:
- a prohibition on the importation of the article;
- the imposition of or an increase in a duty or tightening of a tariff-rate quota or of a quantitative restriction on the article;
- the suspension, withdrawal, or prevention of trade agreement concessions with respect to the article; or
- any other restriction on the importation of the article.
A technical correction to the Harmonized Tariff Schedule of the United States shall not be considered a unilateral trade action.
Unilateral trade actions shall require congressional approval, except such actions may take effect for one 90-day period (without renewal) if the President:
- determines that it is necessary for the unilateral trade action to take effect because of a national emergency, an imminent threat to health or safety, the enforcement of criminal laws, or for national security; and
- submits written notice of the determination to Congress.
The bill applies the congressional approval requirement to other executive trade actions, trade agreements, and trade laws.