Source: AXIOS, 7/3/18


The U.S. Trade Representative, Department of Commerce, and the White House have drafted legislation, entitled the “United States Fair and Reciprocal Tariff Act,” to give the President more authority over trade negotiations and the imposition of tariffs. Specifically, the President would have the authority to enter into an agreement with another country that reduces the rate of tariff collected on U.S. exports, and they would also be able to impose a tariff rate on another country’s goods equal to the rate the other country imposes on U.S. goods.

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