United States · Amendment · HAMDT

HAMDT 56 (100th)

An amendment to require the U.S. Trade Representative to enter into negotiations with countries running excessive unwarranted trade surpluses with the United States and mandate retaliatory action against such countries if negotiations fail. In addition, if negotiations do not achieve an agreement eliminating the barriers within 6 months, the amendment requires dollar-for-dollar retaliation against the unfair trade practices. After one year, if the surplus nation still has not dismantled its unfair barriers, the amendment requires the U.S. Trade Representative to take action to reduce the targeted country's surplus by 10% for each of the next 4 years. The President may waive retaliation if he determines it would cause substantial harm to the U.S. economy, or if a surplus nation is encountering substantial balance-of-payments problems, including problems making debt repayments.