Section 1 Short title
This Act may be cited as the “American Manufacturers over Argentine Bailouts Act”.
American Manufacturers over Argentine Bailouts Act
A BILL
To direct the Secretary of the Treasury to provide financial relief for small and medium sized manufacturers, and for other purposes.
Sec. 2 Prohibition on use of exchange stabilization fund for Argentina
The Secretary, pursuant to the direction of the President, shall not provide direct or indirect financial support to the country of Argentina under funds designated for such purpose under section 5302 of title 31, United States Code.
Sec. 3 Small and medium sized manufacturers tariff relief
In general— Of funds made available to carry out section 5302 of title 31, United States Code, the Secretary shall establish a financial relief program for eligible manufacturers to offset negative financial impacts related to any tariffs applied by the President on foreign imports between January 20, 2025 to January 20, 2029.
Disbursement—
In general— The Secretary shall establish an appropriate administrative process for eligible manufacturers to submit an application and to receive financial support described in subsection (a). The Secretary may issue any guidance or regulation necessary to carry out this section.
Application— The application submitted by small and medium sized manufacturers required by the Secretary under paragraph (1) shall include—
a description of the good produced by the eligible manufacturer in the United States;
a description of any foreign imports subject to a tariff that are production inputs of the good described in subparagraph (A); and
a description of the negative financial impact experienced by the eligible manufacturer due to any tariff imposed by the President, including any tariff described in subparagraph (B).
Relief amount— The Secretary shall provide direct or indirect financial support in an amount equal to the financial harm imposed by any applicable tariff experienced by an eligible manufacturer described in the application submitted pursuant to paragraph (2).
Authorizations— To carry out this section, the Secretary is authorized to provide no less than $20,000,000,000 in financial assistance to eligible manufacturers from any available funds available in the stabilization fund described in section 5302 of title 31, United States Code.
Definitions—
Eligible manufacturer— The term “eligible manufacturer” means a small and medium sized manufacturer domiciled in the United States that—
employs less than 500 individuals;
sources at least 50 percent of any steel or aluminum inputs domestically; and
does not source any production inputs from a foreign entity of concern.
Secretary— The term “Secretary” means the Secretary of the Treasury.