H.R. 9827 proposes to impose an additional tax on goods imported into the United States. The bill requires the President to apply a 10% ad valorem duty on imports. Each year, this duty could increase by an additional 5% if the U.S. has a trade deficit, or decrease by 5% if...
Simple Explanation
This bill is like adding a price tag to toys you buy from another country; if America buys more than it sells to other places, the price increases a bit each year, but if America sells more than it buys, the price tag goes down.