This bill seeks to punish the People’s Republic of China for violations of U.S. intellectual property (IP) rights by imposing a duty (or tariff) on merchandise produced in China that is imported to the U.S after estimating losses to American IP holders.
It would direct the U.S. Trade Representative (USTR) to give Congress an annual report on the estimated annual loss of revenue to holders of U.S. intellectual property rights as a result of intellectual property rights violations in China.
The President would then be directed, through the U.S. Trade Representative, to:
Impose duties on merchandise from the People’s Republic of China in an amount equal to the estimated annual loss of revenue to holders of U.S. intellectual property rights as determined by the USTR;
Provide for the distribution of the proceeds of such duties to holders of U.S. intellectual property rights on a proportional basis.