HR 735

The United States Reciprocal Trade Act aims to give the President greater authority to address unfair trade practices by foreign countries. Specifically, it allows the President to negotiate tariff reductions with other nations or impose additional duties if a country’s tariffs on U.S. goods are significantly higher than its tariffs on goods from other countries. The bill also requires consultation with Congress and provides a mechanism for Congress to disapprove the President’s actions. It includes provisions to consider factors like tariff classifications and nontariff barriers, and establishes a sunset clause for the President’s expanded authority.