The Trade Deficit Elimination Act of 2026 would authorize the U.S. Trade Representative to impose additional tariffs on imported goods from countries with which the United States has a trade deficit in goods. The Trade Representative would be required to identify and publish a list of all trading partners with bilateral trade deficits by April 1st each year, starting within 30 days of the bill's enactment, using the most recent available trade data. The bill would allow the President to increase or modify these tariffs as needed to eliminate the bilateral trade deficit with each country, though certain goods could be exempted if tariffs would cause supply shortages, disrupt critical industries, or threaten national security. Before imposing or changing any tariffs, the Trade Representative must consult with Congress's trade committees. The bill also permits the Trade Representative to negotiate bilateral trade agreements with deficit countries aimed at reducing the imbalance through commitments such as purchasing more U.S. goods or restraining exports.
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