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Congress·In Committee·H.R. 6991

Congress Proposes New 10% to 15% Tax on All Foreign Imports to the United States

Fair Trade Act of 2026

2 months ago·View on Congress.gov

Legislative Progress

House
Senate
President
Law

Key Points

  • This bill would add a new tax to almost every product brought into the United States from other countries.
  • The amount of the tax depends on our trade relationship: goods from countries that sell more to the U.S. than they buy from us would face a 15% tax.
  • Products from countries where the U.S. sells more than it buys would face a 10% tax.
  • These new costs would be added on top of any taxes that businesses already pay to bring goods into the country, which would likely lead to higher prices for shoppers on items like electronics, clothing, and car parts.
  • The President would have the power to lower these taxes if it is in the interest of national security, but only after meeting with leaders in Congress to discuss the change.
Economy FinanceTaxesAgriculture

Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

State Impacts

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Jan 8, 2026House

Referred to the House Committee on Ways and Means.

Jan 8, 2026

Introduced in House

What Happens Next

Projected impacts based on AI analysis

Possible retaliatory tariffs from trading partners

Countries affected by U.S. tariffs would likely impose their own taxes on American exports, hurting U.S. farmers, manufacturers, and other exporters within weeks to months of enactment.

Source Information

Document Type

Congressional Bill

Official Title

Fair Trade Act of 2026

Bill NumberHR 6991
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Ways and Means.

Sponsor

Analysis generated by AI. Always verify with official sources.