New import law would ban deforestation-linked goods from US markets by 2029

What does this do?

The TREE Act would make it illegal starting January 1, 2029, to import or sell across state lines any product derived from land where forests were cleared after December 31, 2020. Covered commodities include cattle, cocoa, palm oil, rubber, soy, and wood, along with finished goods such as beef, chocolate, furniture, and tires. Importers would be required to certify to Customs and Border Protection that their products did not originate from deforested land, and falsifying that certification would also be illegal.

Who does it affect?

The bill affects US importers, large retailers, food companies, and manufacturers that handle the covered products, as well as foreign countries and suppliers throughout those supply chains. American consumers could see changes in the availability or prices of everyday goods including food, paper, and rubber products.

Why does it matter?

The US Trade Representative would rank every country as high, medium, or low risk, with higher-risk countries subject to more frequent shipment inspections. Companies that violate the rules could face fines, seizure of goods, loss of federal contracting privileges, and import bans of up to 12 months for serious or repeat offenders.

What does it cost, and who pays?

• Fines up to 4% of US annual revenue
• Goods subject to seizure
• Half of fines aid developing nations

Where does it stand?