Fighting Trade Cheats Act of 2023

S 805, the Fighting Trade Cheats Act of 2023, increases penalties for importers who commit customs fraud or gross negligence. It triples civil penalties for fraudulent violations (to three times the domestic value) and raises gross negligence penalties (up to ten times the domestic value), while adding a five-year import ban for fraudulent violators and a two-year ban for gross negligence. The bill also creates a new private lawsuit mechanism, allowing U.S. manufacturers, workers, or trade groups harmed by customs violations to sue violators for triple damages plus attorney fees. Additionally, it excludes individuals or related businesses found guilty of such violations from participating in the U.S. importer of record program. This directly affects importers who violate customs laws, U.S. businesses competing with fraudulent imports, and customs enforcement processes.