H.R. 694 (119th)Bill Overview

Restoring Trade Fairness Act

Foreign Trade and International Finance|Administrative law and regulatory proceduresAgricultural trade
Cosponsors
Support
Republican
Introduced
Jan 23, 2025
Discussions
Bill Text
Current stageCommittee

Referred to the Subcommittee on Coast Guard and Maritime Transportation.

Introduced
Committee
Floor
President
Law
Congressional Activities
01 · The brief
Plain-English summaryWhat this bill actually does

The Restoring Trade Fairness Act would withdraw Permanent/Normal Trade Relations (PNTR) treatment for the People’s Republic of China and require the President to apply higher, China-specific tariffs based on the HTS column 2 rates. It sets minimum ad valorem equivalents (35 percent generally, 100 percent for listed critical articles), phased implementation and CPI adjustments, expands presidential authority to quota or prohibit imports, changes valuation rules for Chinese merchandise to a U.S. market basis, narrows de minimis duty exemptions for covered nations, creates a trust fund using tariff revenues to compensate U.S. producers and fund certain defense purchases, and directs WTO schedule changes and additional ITC resources.

Why people may split

Liberals back aggressive rebalancing and compensation; conservatives fear market distortions.

Watch point

Relative to its intended legislative type, this bill is a detailed substantive policy change that sets out a comprehensive statutory framework to suspend PNTR for the People’s Republic of China and to alter tariff treatment.

The Restoring Trade Fairness Act would withdraw Permanent/Normal Trade Relations (PNTR) treatment for the People’s Republic of China and require the President to apply higher, China-specific tariffs based on the HTS column 2 rates.

It sets minimum ad valorem equivalents (35 percent generally, 100 percent for listed critical articles), phased implementation and CPI adjustments, expands presidential authority to quota or prohibit imports, changes valuation rules for Chinese merchandise to a U.S. market basis, narrows de minimis duty exemptions for covered nations, creates a trust fund using tariff revenues to compensate U.S. producers and fund certain defense purchases, and directs WTO schedule changes and additional ITC resources.

Passage25/100

A sweeping, economically disruptive trade restructure faces strong business, legal, and international resistance; phase-ins and compensation help but do not eliminate obstacles.

CredibilityPartially aligned

Relative to its intended legislative type, this bill is a detailed substantive policy change that sets out a comprehensive statutory framework to suspend PNTR for the People’s Republic of China and to alter tariff treatment. It includes many concrete mechanisms, agency responsibilities, timelines, and financing structures.

Contention72/100

Liberals back aggressive rebalancing and compensation; conservatives fear market distortions.

02 · What it does

Who stands to gain, and who may push back.

Likely benefits vs burdens50% / 50%
CitiesConsumers

These are examples from the analysis, not a ranked list of the most-affected groups.

Likely helped
  • CitiesHigher duties could encourage reshoring and expansion of domestic manufacturing capacity.
  • Potential benefitIncreased tariff revenue funds a trust to compensate producers hit by Chinese retaliation.
  • Potential benefitStronger trade tools and presidential authority aim to reduce strategic supply chain dependence on China.
Likely burdened
  • ConsumersHigher import duties will likely raise consumer prices and business input costs in the United States.
  • Potential burdenChina could retaliate with tariffs or import restrictions, harming U.S. exporters, notably agriculture.
  • Potential burdenCBP and importers will face increased compliance, reporting, and audit workload and enforcement costs.
03 · Why people split

Why the argument around this bill splits.

Liberals back aggressive rebalancing and compensation; conservatives fear market distortions.
Progressive80%

Likely broadly supportive of strong measures to counter China’s state-directed trade practices and to rebuild U.S. industrial capacity and worker bargaining power.

Concerned about distributional effects—consumer price increases and agriculture or service-sector losses—and would expect robust domestic compensation, worker transition, and environmental/labor safeguards.

Some claimed benefits like reshoring and job growth are uncertain/speculative and depend on implementation and retaliation.

Leans supportive
Centrist55%

Cautious, pragmatic view: accepts need for tools addressing national security and critical supply chains, but worries about inflationary and legal costs.

Would favor measured, time‑limited use, close monitoring by ITC and CBP, and rapid adjustments if trade or macro harms emerge.

Support likely conditional and moderate rather than wholehearted.

Split reaction
Conservative25%

Skeptical overall because the bill imposes large tariff increases and broad executive economic controls, conflicting with limited-government and free-market principles.

Might support narrowly tailored national-security import bans and some defense funding, but opposes sweeping, long-term tariff regimes that raise costs and expand federal administration.

Likely resistant
04 · Can it pass?

The path through Congress.

Introduced

Reached or meaningfully advanced

Committee

Reached or meaningfully advanced

Floor

Still ahead

President

Still ahead

Law

Still ahead

Passage likelihood25/100

A sweeping, economically disruptive trade restructure faces strong business, legal, and international resistance; phase-ins and compensation help but do not eliminate obstacles.

Scope and complexity
86%
Scopesweeping
86%
Complexityhigh
Why this could stall
  • No official cost or macroeconomic impact estimate in bill text
  • Administration willingness to use expanded proclamation and quota powers
05 · Recent votes

Recent votes on the bill.

No vote history yet

The bill has not accumulated any surfaced votes yet.

06 · Go deeper

Go deeper than the headline read.

Included on this page

Liberals back aggressive rebalancing and compensation; conservatives fear market distortions.

A sweeping, economically disruptive trade restructure faces strong business, legal, and international resistance; phase-ins and compensatio…

Unlocked analysis

Relative to its intended legislative type, this bill is a detailed substantive policy change that sets out a comprehensive statutory framework to suspend PNTR for the People’s Republic of China and to alter tariff treat…

Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.

Perspective breakdownsPassage barriersLegislative design reviewStakeholder impact map
Open full analysis