The Secure Trade Act imposes new tariffs on imports coming into the United States and creates special rules for trade with China. Here's what it does in practical terms:

First, the bill adds a 10% tax on top of existing tariffs for all imported goods starting immediately after the law passes. The President can reduce this rate for specific industries if it's in the national interest, but has to consult with Congress first.

Second, the bill specifically targets Chinese imports with much higher tariffs. Most Chinese goods will face at least a 35% tariff, while certain strategic items like semiconductors and advanced technology face a 100% tariff. These increases phase in gradually over five years rather than all at once. For items that only come from China and aren't made in America, the bill creates import quotas based on how much Americans consume versus produce domestically—anything beyond that quota faces a 100% tariff.

Third, the bill gives the President power to ban Chinese imports entirely if they pose national security risks, involve unfair trade practices, or violate human rights. It also changes how Chinese goods are valued for tariff purposes, requiring importers to declare what the product would sell for in the U.S. market.

Finally, the bill expands government review of foreign investments in U.S. real estate and factories, particularly when countries like China want to build new facilities or renovate existing ones. This gives the government more authority to block or scrutinize such investments for national security reasons.