Bill Summary
This legislation, titled the "Repealing Outdated and Unilateral Tariff Authorities Act," aims to repeal section 338 of the Tariff Act of 1930. This section, which pertains to tariffs imposed on imported goods, will be removed from the Act if this bill is passed by the Senate and House of Representatives. The purpose of this legislation is to eliminate outdated and unilateral tariff authorities.
Possible Impacts
1. Impact on International Trade: The repeal of section 338 of the Tariff Act of 1930 could have a significant effect on international trade. This section allowed for the imposition of unilateral tariffs by the United States, which could have hindered the free flow of goods and services across borders. Repealing this section would remove this barrier and potentially create new opportunities for trade.
2. Economic Impact: The repeal of this section could also have economic implications for individuals and businesses. Without the ability to impose unilateral tariffs, the cost of imported goods may decrease, making them more affordable for consumers. On the other hand, businesses that relied on the protection of tariffs to compete in the domestic market may face increased competition and potentially suffer financially.
3. Employment and Labor: The repeal of section 338 could also have an impact on employment and labor. In industries that were protected by tariffs, the removal of this section may lead to job losses as businesses struggle to compete with cheaper imports. On the other hand, in industries that rely on imported goods, the repeal may lead to job growth as the cost of production decreases.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2464 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2464
To repeal section 338 of the Tariff Act of 1930.
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IN THE HOUSE OF REPRESENTATIVES
March 27, 2025
Mr. Schneider (for himself, Ms. DelBene, Ms. Sewell, Mr. Panetta, and
Mr. Beyer) introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To repeal section 338 of the Tariff Act of 1930.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Repealing Outdated and Unilateral
Tariff Authorities Act''.
SEC. 2. REPEAL.
Section 338 of the Tariff Act of 1930 (19 U.S.C. 1338) is hereby
repealed.
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