Bill · S. 5315· Senate(119-S-5315)
Trade Deficit Elimination Act of 2026
- Introduced
- 8/6/2026
- Last activity
- 8/6/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Rick Scott
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
The Trade Deficit Elimination Act of 2026 aims to impose additional duties on goods imported into the United States to eliminate the deficit in trade in goods. Under this bill, the Trade Representative will identify "trade deficit economies" by determining which trading partners have a bilateral deficit in trade in goods. The Trade Representative, following the direction of the President, can then modify duties on articles from these economies to reduce the deficit. The bill also allows for the possibility of entering into bilateral trade agreements to achieve these reductions. To prevent shortages, certain exemptions may be granted for specific articles.
Yes· 3 of 9
Would union members be better off under this?+2
Protectionist trade policies often benefit domestic labor and unionized industrial sectors.
Does this give the federal government more power?+2
The bill expands the authority of the Trade Representative and President regarding import duties.
Is this likely to grow the economy?+2
The bill seeks to protect national economic interests through strategic trade controls.
The opposite· 3 of 8
Would households on low incomes be better off under this?-3
Increased costs of imported goods may disproportionately impact low-income consumers.
Is this likely to slow the rise in prices?-3
Increased duties on imported goods can lead to higher consumer prices and inflationary pressure.
Would middle-income households be better off under this?-2
Higher prices for imported goods could reduce middle-class purchasing power.
Who it would affect, and how
Potential Positive Impacts for People
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Protection of National Security and Economic Interests: The bill's findings suggest that addressing bilateral trade deficits can help protect the national security, foreign policy, and economic interests of the United States (Section 2).
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Supply Chain Stability: The bill provides for potential exemptions from additional duties to prevent the unavailability of raw materials or material disruptions to the availability of critical goods, essential raw materials, and articles necessary for national defense (Section 5(b)(1)).
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Consumer Accessibility: Exemptions may be granted for articles that cannot be grown or produced in sufficient quantities or at reasonable prices within the United States, or those that cannot be obtained from sources other than a trade deficit economy (Section 5(b)(2)).
Potential Negative Impacts for People
- Increased Costs through Additional Duties: The Trade Representative may impose or increase duties on articles imported from trade deficit economies, and these duties would be in addition to any other duties already imposed by law (Section 5(a) and Section 5(d)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Union Workers+2Good For Business Owners+1Good For Farmers+1Good For Rural Residents+1Good For Low Income Households-3Good For Middle Class Households-2Good For Urban Residents-2Good For Retirees-1
- Governance And Ideology
- Increases Federal Power+2Improves Government Transparency+1
- Economy And Finance
- Improves Economic Growth+2Increases Job Creation+1Reduces Inflation-3Improves Consumer Protection-2
- National Security And Foreign Policy
- Improves Diplomatic Engagement+1Improves International Trade-2Improves International Alliances-1
- 8/6/2026
- Read twice and referred to the Committee on Finance.
- 2 Cosponsors added.
- Introduced in Senate
Kevin CramerRepublican · North Dakota
Tim SheehyRepublican · Montana