We have received text from S. 5315: Trade Deficit Elimination Act of 2026. This bill was received on 2026-08-06, and currently has 2 cosponsors.

Here is a short summary of the bill:

This bill would create a system for identifying countries, customs territories, or other trading partners with which the United States has a bilateral trade deficit in goods —meaning the U.S. buys more goods from that partner than it sells to it.

What it would require the government to do

• Within 30 days after the bill becomes law, and then every year on April 1, the U.S. Trade Representative would have to review trade data for each trading partner.
• If the U.S. has a goods-trade deficit with a partner, that partner would be formally designated a trade deficit economy .
• The Trade Representative would publish a list of those partners in the Federal Register, along with the size of each deficit.
• The designations would be based on the best available federal trade data, using the most recent finalized calendar-year data available as of January 31 each year.

What it would allow the government to do

After the list is published, and within 15 days, the Trade Representative—following the President’s direction—could impose new duties (tariffs), raise or lower them, suspend them, or otherwise change import charges on goods coming from any trade deficit economy.

The stated purpose of these duties would be to eliminate the bilateral trade deficit in goods with that partner. The bill also says any such duties would be in addition to any other duties already required by law.

Possible exemptions

The bill allows the Trade Representative, again under the President’s direction, to exempt certain goods from these extra duties. Exemptions could apply to goods if the duties would:

• cause shortages of raw materials in the United States;
• disrupt access to critical goods, essential raw materials, or items needed for national defense;
• or cover goods that cannot be produced in sufficient quantity or at reasonable prices in the United States, and cannot be obtained from countries that are not trade deficit economies.

Consultation and negotiations

Before changing duties, the Trade Representative would have to consult with the House Ways and Means Committee and the Senate Finance Committee.

The bill would also authorize the Trade Representative to negotiate bilateral trade agreements with trade deficit economies. Those agreements would need to aim at substantially reducing the trade deficit in goods, and could include commitments by the other country to:

• change policies or practices that contribute to the deficit;
• buy more U.S. goods; or
• limit or reduce exports to the United States.

Limits on authority

The bill says it does not give the President or the Trade Representative any powers beyond what is specifically written in the act. Their actions would have to follow the bill’s rules and limits.

Relevant Companies

• FDX — FedEx could be affected indirectly if higher import duties change shipping volumes, cross-border trade flows, or demand for imported goods.
• UPS — UPS could be affected indirectly by changes in international trade volumes and import activity.
• WMT — Walmart could be affected if tariffs raise the cost of imported merchandise it sells in the U.S.
• TGT — Target could face higher costs on imported consumer goods if duties are imposed on major sourcing countries.
• AMZN — Amazon could be affected by higher costs for imported goods sold through its marketplace and retail operations.
• DE — Deere could be affected if tariffs or exemptions change the cost of imported components or equipment inputs.

Senator Rick Scott Bill Proposals

Here are some bills which have recently been proposed by Senator Rick Scott:

• S.5377: A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to establish certain procedures for consideration of appropriation bills, and for other purposes.
• S.5315: Trade Deficit Elimination Act of 2026
• S.5230: Make SWAPs Efficient Act of 2026
• S.5178: Small Business Regulatory Flexibility Improvements Act
• S.5155: American Hiring Transparency Act
• S.5069: Coast Guard Leadership Modernization Act

You can track bills proposed by Senator Rick Scott on Quiver Quantitative's politician page for Scott.

Senator Rick Scott Net Worth

Quiver Quantitative estimates that Senator Rick Scott is worth $510.9M, as of August 14th, 2026. This is the 3rd highest net worth in Congress, per our live estimates.

Scott has approximately $59.0M invested in publicly traded assets which Quiver is able to track live.

You can track Senator Rick Scott's net worth on Quiver Quantitative's politician page for Scott.

Senator Rick Scott Stock Trading

We have data on up to $381.6M of trades from Senator Rick Scott, which we parsed from STOCK Act filings. Some of the largest trades include:

• A August 15th, 2023 sale of up to $5M of $WTT.
• A December 20th, 2023 sale of up to $15K of $VAXX. The stock has fallen 99.99% since then.

You can track Senator Rick Scott's stock trading on Quiver Quantitative's politician page for Scott.

2030 Florida US Senate Election

There has been approximately $100,651,780 of spending in Florida US Senate elections over the last two years, per our estimates.

Approximately $20,898,465 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:

• PROJECT RESCUE AMERICA ($17,063,304)
• WINSENATE ($1,090,000)
• SENATE CONSERVATIVES FUND ($912,454)
• SENATE CONSERVATIVES ACTION ($315,603)
• NATIONAL ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE ($274,050)

The rating for this race is currently "Solid R".

You can track this election on our matchup page for the 2030 Florida US Senate election.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.

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