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United States Fair Tariff Act

Increase Government Revenues by $8.5 trillion over 10 years.

The failures of our Congresses since the mid ?70?s have created an irreversible global trade deficit. Our trade with other countries is arranged to benefit individual companies or industries, not the nation. The U.S. needs fair and equal trade.



The last year the United States had a global net trade surplus was 1975 with $12.404 billion ($52.259 billion in 2012 dollars). At the end of 2011 the U.S. traded with 235 countries, including our FTA partners, we have an accumulated net trade deficit totaling $928 billion with 95 of those countries. Our imports for 2011 totaled $2.2 trillion. Up front this is impressive, until we look at what we exported; $1.5 trillion, a net deficit of $300 billion.



Our top three import countries in 2011 were China [18.09%], Canada [14.34%] and Mexico [11.92%] combined these account for 44.35% of our imports. All of these imports entered the United States duty free; most of these were products with U.S. based brands.



Products manufactured within the United States are assessed an average of 25% duty into non-FTA countries, including China. China received $104 billion worth of products in 2011, duty on these products would have been almost $26 billion. Globally, the United States could have received $552 billion, since 1987 that is a total of $7 trillion.



It is time for Congress to take real actions to grow the economy, reduce unemployment and balance the budget with legitimate tax reform that benefits the United States as whole.



The United States Congress is now directed by its constituents to write a bill that requires all products enter the United States with the same import tariffs as those assessed by the country from which these are produced, regardless of the country in which the manufacturer is based. Once the bill is enacted as law by the President, for the next ten years; 2014 ? 2023, the United States will increase federal revenues by as much as $8.5 trillion. Congress is further directed that it will not provide exceptions, loopholes, subsidies and/or exemptions from the law.



http://www.cbo.gov/sites/default/files/cbofiles/attachments/BudgetProjectionsMarch2012.xls

http://www.census.gov/foreign-trade/balance

http://www.whitehouse.gov/omb/budget/historicals

http://www.census.gov/foreign-trade/statistics/historical/

http://www.census.gov/foreign-trade/balance/country.xls

http://reemployamerica.org