China COVID-19 Restitution Act
This bill requires the President to impose duties on goods and components manufactured in China and to use the collected funds to provide compensation and reimbursement for losses related to COVID-19.
From this bill's enactment until December 31, 2021, the President must impose a 10% ad valorem duty on any good manufactured in China and any component manufactured in China and incorporated in a good imported from any country. This duty shall increase by an additional 10% each calendar year after 2021.
The amounts from this duty shall go into a trust fund, which shall also include any amounts provided by China's government to provide compensation and reimbursement related to COVID-19.
Using the amounts in the trust fund, the Department of Justice shall establish and administer a program to provide compensation and reimbursement for economic and financial losses related to COVID-19, including for assistance made available by the federal government.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.