Clermont Times

Washington, D.C. - Representatives Brad Wenstrup (R-OH), Mike Thompson (D-CA) and Terri Sewell (D-AL) reintroduced the For Accurate Import Relief To Aid Retailers and Importers of Foreign Freights (FAIR TARIFF) Act to improve how the United States Trade Representative (USTR) oversees, implements, and administers tariffs. This legislation would give U.S. companies at least 60 days' notice before retaliatory tariffs are imposed on goods.

"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. 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," said Rep. Wenstrup.

"When tariffs are imposed on goods in transit, American importers are hurt,” said Rep. Thompson. "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.”

"Alabama workers and consumers deserve trade laws that are balanced and fair," said Rep. Sewell. "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. As a proud member of the Ways and Means Subcommittee on Trade, I will continue to advocate for legislation that creates a fairer and more equitable trading system."

"In a globalized economy, giving businesses ample notice of tariffs on their imported inputs is essential," said Rep. Smith, Chairman of the Ways and Means Trade Subcommittee. "The Fair Tariff Act is a commonsense, bipartisan solution to better equip U.S. importers to make purchasing decisions. If tariffs must be implemented, we should ensure American businesses, manufacturers, and workers are protected from unintended negative impacts. I thank my colleagues Reps. Wenstrup, Thompson, Sewell, and Panetta for their cooperation on this important bill."

"It is imperative American importers are taken care of as they stimulate the U.S. economy. Suppliers should not be unfairly hit by tariffs for goods that have been already purchased. The Fair Tariff Act equips our importers for success, ensures USTR gives U.S. companies ample warning when implementing tariffs, and corrects the tariffs that have put unnecessary costs on U.S. businesses that get passed down to consumers," said Rep. Miller.

Click here to read full text of the bill.

Background: In May 2019, when USTR published 25 percent tariffs on $200 billion worth of products from China, U.S. companies clamored for, and received, a "goods on the water" exemption. USTR did not provide such an accommodation for the 25 percent tariffs on European wine, spirits, food, and other products implemented in October 2019 and expanded in January 2021. In both these cases, tariffs were implemented with less than two weeks' notice, and the requests from U.S. companies for a "goods on the water" exemption were ignored. The FAIR TARIFF Act would direct USTR to provide U.S. companies adequate time to land goods from market economies in transit before retaliatory tariffs begin and would also refund "goods on the water" tariffs paid following the rapid implementation of the EU retaliatory tariffs, except those goods tied to the underlying dispute regarding aircraft.

Original source can be found here.