H.R. 3982: To establish a Tariff Response and Damages to Exports fund, and for other purposes.

This bill establishes a fund called the "Tariff Response and Damages to Exports Fund," also known as the TRADE Fund, which will be part of the general fund of the U.S. Treasury. The primary purpose of this fund is to provide financial assistance to agricultural producers who are adversely affected by various trade-related issues.

Key Provisions of the Bill

Creation of the TRADE Fund

The TRADE Fund will receive money from tariffs collected on imported goods, specifically those listed in chapters 1 through 24 of the Harmonized Tariff Schedule of the United States.

Use of the Fund

The Secretary of Agriculture will be responsible for disbursing funds from the TRADE Fund to agricultural producers. This assistance aims to address the negative impacts stemming from:

• Decreased exports of agricultural products.
• Tariff or non-tariff barriers imposed by foreign nations that limit access to markets.
• Increased costs of production-related goods necessary for agricultural practices.

Reporting Requirements

The Secretary of Agriculture is required to submit an annual report to congressional committees detailing:

• The total revenue added to the TRADE Fund in the previous fiscal year.
• The economic effects on agricultural producers caused by trade challenges.
• A summary of the assistance provided to producers during that year.

Duration of the Fund

The provisions of this bill will remain in effect until September 30, 2030. At that point, any unspent funds in the TRADE Fund will be permanently removed.

Relevant Companies

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