H.R. 694: Restoring Trade Fairness Act

The Restoring Trade Fairness Act proposes significant changes to the trade relations between the United States and China, primarily through the suspension of normal trade relations with China. This action aims to address perceived trade imbalances, enhance national security, and strengthen the resilience of the U.S. economy. A key feature of the bill is the increase in import duties on a variety of goods coming from China. Additionally, the bill plans to establish a trust fund that would provide compensation to industries affected by these changes in trade policy.

Goods and Equipment Specifications

Furthermore, the legislation details various categories of goods and equipment that would be impacted, specifying particular substances and technologies. These include:

• Substances: Lithium, helium isotopes, pharmaceuticals, hormones, diagnostic reagents
• Agricultural Machinery: Equipments used in farming processes
• Electronic and Medical Applications: Components necessary for these fields

Numerically Controlled Machines

The bill also categorizes and specifies the types of numerically controlled machines and tools used in metalworking, such as:

• Lathes
• Milling machines
• Grinding machines
• Electric motors

Each category includes details regarding their intended purposes and exceptions applicable to particular types of equipment.

Electrical and Electronic Devices

In addition, the legislation outlines specifications for various electrical and electronic devices, which include:

• Hair clippers
• Telecommunication equipment
• Audio-visual apparatus
• Related parts

These classifications highlight the uses and functionalities of such devices, although certain items do not have weight specifications included.

Electrical Machines and Apparatus

The bill further defines categories for numerous electrical machines, apparatus, and vehicles, focusing on:

• Telecommunication equipment
• Agricultural equipment
• Aircraft-related machinery

Specifications include criteria such as engine types, weights, and functionalities tailored to each classification.

Measurement Instruments

Lastly, the legislation classifies various instruments and apparatus used for measuring or checking variables related to liquids, gases, and electrical quantities. This includes:

• Hydraulic devices
• Pneumatic devices
• Electrical and nonelectrical measuring instruments
• Firearms and ammunition classifications

The bill specifies types of devices along with necessary parts and accessories tied to these measurement instruments.

Relevant Companies

• TSLA - Tesla, Inc.: As a manufacturer of electric vehicles and components that may rely on imported materials from China, Tesla could be affected by increased import duties.
• AAPL - Apple Inc.: Apple, which sources many components and products from China, may experience increased costs and supply chain disruptions as a result of the proposed changes.
• NVDA - NVIDIA Corporation: NVIDIA could be impacted due to its reliance on Chinese manufacturing for certain semiconductor products, potentially leading to higher costs.