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The Fair Trade Act of 2026 imposes additional tariffs on imported goods, with rates varying by trade balance: 10 percent on goods from countries with which the U.S. has a trade surplus, and 15 percent on goods from countries with a trade deficit. These duties apply on top of existing tariffs. The President may reduce these rates if determined to be in the national interest or national security interest, subject to consultation with the House Ways and Means Committee and Senate Finance Committee.
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