Reps. Steube and Golden Introduce Secure Trade Act
WASHINGTON — U.S. Representatives Greg Steube (R-Fla.) and Rep. Jared Golden (D-Maine) today introduced the Secure Trade Act. This bill provides supplemental support for President Trump’s trade policies to protect U.S. workers and industries and crack down on Chinese trade manipulation.
“American workers have the right to compete on a level playing field,” said Rep. Steube. “If foreign governments insist on tariffing our exports, then American industries deserve the same protections to remain competitive. This bill holds serial trade manipulators like China accountable, reduces the offshoring of manufacturing jobs, and secures America’s long-term economic and national security for generations to come.”
“It’s long past time that Congress got some skin in the game in setting our nation’s trade and tariff policies,” said Rep. Golden. “The free trade status quo has cost Americans jobs and left us reliant on other nations for strategic goods critical for our nation’s safety and prosperity. The Secure Trade Act incentivizes the production and purchase of domestic goods, increases our economic security and makes clear that U.S. trade policy will be used to advance our interests, not those of our competitors.”
The Secure Trade Act has the support of American Compass and the Coalition for a Prosperous America.
“The bipartisan Secure Trade Act is a crucial step toward rebalancing global trade, restoring American industrial strength, and reducing our reliance on adversarial supply chains. The bill’s 10 percent global minimum tariff will help lower the U.S. trade deficit, raise revenue and level the playing field for American workers and manufacturers. The legislation’s provisions to create a separate tariff schedule for China are long overdue to address China’s abusive economic practices, including intellectual property theft, suppressed wages and predatory industrial subsidies. The bill also strengthens domestic investment screening to ensure the United States isn’t selling its assets to those who don’t share our interests. Reps. Jared Golden (D-ME) and Greg Steube (R-FL) deserve tremendous credit for this bold and necessary effort to reassert U.S. economic independence, stabilize our trade balance and protect our long-term national interests.” —Mark DiPlacido, policy adviser for American Compass
“Our country needs tariffs, both to protect industries and as a preferred funding source for the government. This bill codifies the 10 percent Universal Tariff that President Trump campaigned on, bringing in much needed revenue, as well as updates the U.S. tariff system with a China-specific tariff schedule that reflects their clear record of abusive economic practices. CPA salutes Representatives Golden and Steube for putting America first.” —John Toomey, CEO of the Coalition for a Prosperous America
Background:
The Secure Trade Act establishes a new 10% tariff on all imports, in addition to any existing tariffs. It also requires all foreign investments involving land or factory creation from countries of concern (Russia, China, North Korea, and Iran) to receive approval from the Committee on Foreign Investment in the United States (CFIUS) Review.
Additionally, the Secure Trade Act sets a 35% minimum tariff on most goods imported from China, a 100% tariff on strategic items including critical minerals and dual-use goods produced in the PRC, and requires Chinese imports to be appraised at U.S. market value. It expands the presidential authority on trade to raise tariffs beyond statutory minimums if warranted, and empowers the White House to as ban or enact quotas on Chinese goods on the grounds of unfair practices or national security.
Read the full bill text here.
