,,ii #aaith ,,congress #b;d ,session ,s4 #ecae ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,august #f1 #bjbf,mr4 ,scott of ,florida 7for himself1 ,mr4 ,cramer1 and ,mr4 ,sheehy7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to impose additional duties on goods imported into the ,united ,states to eliminate the deficit in trade in goods4 #a4 ,short title ,this ,act may be cited as the ,trade ,deficit ,elimination ,act of #bjbf4 #b4 ,findings ,congress makes the following findings3 7#a7 ,persistent bilateral deficits in trade in goods undermine the national security1 foreign policy1 and economic interests of the ,united ,states4 7#b7 ,pursuant to the authority provided by clause #c of section #h of article ,i of the ,constitution of the ,united ,states to regulate commerce with foreign nations1 ,congress establishes the standards1 limitations1 and procedures set forth in this ,act governing the imposition of additional duties to address such deficits4 #c4 ,definitions ,in this ,act3 7#a7 ,trade deficit economy ,the term trade deficit economy means a trading partner designated under section #d7;a77#b74 7#b7 ,trade ,representative ,the term ,trade ,representative means the ,united ,states ,trade ,representative4 7#c7 ,trading partner ,the term trading partner means any country1 economy1 customs territory1 or customs union within which separate duty rates or separate regulations of foreign commerce are enforced4 #d4 ,designation of trade deficit economies 7a7 ,in general ,not later than #cj days after the date of the enactment of this ,act1 and on ,april #a of each year thereafter1 the ,trade ,representative shall-- 7#a7 determine whether the ,united ,states has a bilateral deficit in trade in goods with each trading partner of the ,united ,states2 7#b7 designate each trading partner with which the ,united ,states has such a deficit as a trade deficit economy2 and 7#c7 publish in the ,federal ,register-- 7,a7 a list of trade deficit economies2 and 7,b7 for each trade deficit economy1 the value of the bilateral deficit in trade in goods1 rounded to the nearest millionth dollar4 7b7 ,basis for determinations ,the ,trade ,representative shall make determinations and designations required by subsection 7a7 in a year-- 7#a7 on the basis of the best available data on bilateral trade in goods published by the ,bureau of ,economic ,analysis of the ,department of ,commerce or another appropriate agency of the ,federal ,government2 and 7#b7 using the most recent finalized calendar-year data available as of ,january #ca of that year4 #e4 ,imposition of additional duties on goods imported into ,united ,states from trade deficit economies 7a7 ,in general ,not later than #ae days after publishing the list of trade deficit economies required by section #d7;a77#c71 the ,trade ,representative1 subject to the specific direction of the ,president1 may impose1 increase1 decrease1 suspend1 or otherwise modify duties or other import charges applicable to articles imported into the ,united ,states from a trade deficit economy1 in such amount and for such period as the ,president determines necessary to eliminate the bilateral deficit in trade in goods with that economy4 7b7 ,exemptions ,the ,trade ,representative1 subject to the specific direction of the ,president1 if any1 may exempt from duties under subsection 7a7-- 7#a7 articles that1 if subject to additional duties1 could-- 7,a7 lead to the unavailability of the supply of raw materials in the ,united ,states2 or 7,b7 a material disruption to the availability of critical goods1 essential raw materials1 articles necessary for national defense1 or other articles designated by regulation as necessary to protect the national security or economic stability of the ,united ,states2 or 7#b7 articles that cannot-- 7,a7 be grown or produced in sufficient quantities or at reasonable prices in the ,united ,states2 or 7,b7 obtained from sources other than a trade deficit economy4 7c7 ,consultation with ,congress ,before imposing or modifying a duty under subsection 7a71 the ,trade ,representative shall consult with the ,committee on ,ways and ,means of the ,house of ,representatives and the ,committee on ,finance of the ,senate4 7d7 ,relation to existing duties ,each duty imposed or modified under subsection 7a7 with respect to an article shall be in addition to any other duty imposed by law with respect to the article4 #f4 ,authority to enter into agreements with trade deficit economies 7a7 ,in general ,the ,trade ,representative may enter into negotiations with a trade deficit economy for the purpose of entering into a bilateral trade agreement to achieve a reduction of the bilateral deficit in trade in goods between the ,united ,states and the trade deficit economy4 7b7 ,agreement terms ,an agreement entered into under subsection 7a7 with a trade deficit economy shall include provisions with the objective of substantially reducing the bilateral deficit in trade in goods between the ,united ,states and the trade deficit economy1 including commitments by the trade deficit economy-- 7#a7 to correct1 modify1 or eliminate acts1 policies1 and practices that contribute to the deficit2 7#b7 to purchase ,united ,states goods2 or 7#c7 to restrain or reduce exports to the ,united ,states4 #g4 ,limited delegation of authority ,nothing in this ,act shall be construed to confer upon the ,president or the ,trade ,representative any authority other than the authority expressly delegated by ,congress in this ,act4 ,the ,president and the ,trade ,representative shall exercise such authority only in accordance with the standards1 procedures1 and limitations established by this ,act4