Imposing a Temporary Import Surcharge to Address Fundamental International Payments Problems

The order directs federal agencies to impose a temporary import surcharge to address significant international payments problems, such as balance-of-payments deficits and potential depreciation of the U.S. currency. This measure, which is based on section 122 of the Trade Act of 1974, is intended to protect the U.S. economy and national security. Certain products will be exempt from the surcharge due to the needs of the U.S. economy.