Bill Sponsor
Senate Bill 4008
116th Congress(2019-2020)
Market Economy Sourcing Act
Introduced
Introduced
Introduced in Senate on Jun 18, 2020
Overview
Text
Introduced
Jun 18, 2020
Latest Action
Jun 18, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4008
Congress
116
Policy Area
Foreign Trade and International Finance
Foreign Trade and International Finance
Primary focus of measure is competitiveness, trade barriers and adjustment assistance; foreign loans and international monetary system; international banking; trade agreements and negotiations; customs enforcement, tariffs, and trade restrictions; foreign investment. Measures concerning border enforcement may fall under Immigration policy area.
Sponsorship by Party
Democrat
Pennsylvania
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Market Economy Sourcing Act

This bill limits the content from nonmarket economy countries that may be included in free trade agreement qualifying goods.

A nonmarket economy country is a foreign country that does not operate on market principles of cost or pricing structures, so that sales of merchandise in such country do not reflect the fair price of the merchandise.

The bill requires that, during the five-year period following entry into force of a free trade agreement, no more than 20% of a qualifying good may originate in a nonmarket economy country, and no more than 10% thereafter.

Text (1)
Actions (2)
06/18/2020
Read twice and referred to the Committee on Finance.
06/18/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:46:12 PM