Restoring Equal Opportunity Act

Senate Bill

S. 2343

119th Congress

Restoring Equal Opportunity Act

In Committee

Introduced:Jul 17, 2025

Primary Sponsor

Mike Lee

Senator

Republican

UT

Cosponsors

1

Quick Stats

Policy Area

Foreign Trade and International Finance

Summary

The Restoring Equal Opportunity Act, or the FAIR TARIFF Act, aims to help retailers and importers by allowing them to request refunds on certain European Union product imports that were subject to increased tariff rates during specific time periods. It also requires the U.S. Trade Representative to provide advance notice before increasing tariff rates.

Latest Action

Read twice and referred to the Committee on Finance.

SponsorMike Lee (R-UT)

Introduced7/17/2025

StatusRead twice and referred to the Committee on the Judiciary.

ChamberSenate

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Vote Prediction

Restoring Equal Opportunity Act

The Restoring Equal Opportunity Act, or the FAIR TARIFF Act, aims to help retailers and importers by allowing them to request refunds on certain European Union product imports that were subject to increased tariff rates during specific time periods. It also re

Community Breakdown

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The Restoring Equal Opportunity Act, or the FAIR TARIFF Act, aims to help retailers and importers by allowing them to request refunds on certain European Union product imports that were subject to increased tariff rates during specific time periods. It also requires the U.S. Trade Representative to provide advance notice before increasing tariff rates.

Bill Number: 2343
Sponsor: Mike Lee (R-UT)
Introduced: 7/17/2025
Status: Read twice and referred to the Committee on the Judiciary.
Policy Area: Foreign Trade and International Finance

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Restoring Equal Opportunity Act
Bill Number: 2343
Sponsor: Mike Lee (R-UT)
Status: Read twice and referred to the Committee on the Judiciary.
Introduced: 7/17/2025
Summary: The Restoring Equal Opportunity Act, or the FAIR TARIFF Act, aims to help retailers and importers by allowing them to request refunds on certain European Union product imports that were subject to increased tariff rates during specific time periods. It also requires the U.S. Trade Representative to

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Restoring Equal Opportunity Act, or the FAIR TARIFF Act, aims to help retailers and importers by allowing them to request refunds on certain European Union product imports that were subject to increased tariff rates during specific time periods. It also requires the U.S. Trade Representative to provide advance notice before increasing tariff rates.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

For Accurate Import Relief To Aid Retailers and Importers of Foreign Freights Act of 2023 or the FAIR TARIFF Act of 2023 This bill provides for the liquidation or reliquidation of certain entries of products (e.g., wine, spirits, and food) of European Union countries imported into the United States during specified time periods. A request for liquidation or reliquidation must be filed with U.S. Customs and Border Protection (CBP). A request must contain sufficient information for CBP to (1) locate the entry or, if the entry cannot be located, reconstruct the entry; and (2) verify the eligibility of the request. Further, CBP must develop and make publicly available an application process for requesting these refunds. The bill also requires the U.S. Trade Representative to provide advance notice with respect to certain increases in tariff rates.

Key Points

Main provisions of the bill

Allows retailers and importers to request refunds on European Union product imports that faced increased tariff rates during certain time periods
Requires the U.S. Trade Representative to provide advance notice before increasing tariff rates
Aims to provide financial relief to retailers and importers who were impacted by the tariff increases

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily affect retailers and importers of European Union products, such as wine, spirits, and food, that were subject to increased tariff rates in the past. It could potentially provide them with refunds, offering financial relief and helping to offset the costs they faced due to the tariff hikes. The advance notice requirement for future tariff increases could also give businesses more time to prepare and adjust their operations accordingly.

Policy Areas

Primary Policy Area

Foreign Trade and International Finance

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2343, 119th Congress (2025). "Restoring Equal Opportunity Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2343

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