US SB172

Amends the Trade Act of 1974 and Trade Expansion Act of 1962 to treat goods produced, manufactured, or assembled by foreign adversary parties as originating from the adversary country for tariff enforcement purposes, regardless of where production occurs

Designates six "foreign adversary countries": People's Republic of China, Russian Federation, Islamic Republic of Iran, Democratic People's Republic of Korea, Republic of Cuba, and Venezuela (while Nicolás Maduro is President)

Defines "foreign adversary party" to include adversary country governments, entities organized under adversary country laws, entities headquartered in adversary countries, and entities involved in China's military-civil fusion strategy or industrial policies

Establishes 25% equity ownership threshold over any 12-month period as the trigger for treating an entity as owned, controlled, directed, or operated by a foreign adversary party, including through joint ventures or derivative financial instruments

Applies these country-of-origin rules to trade enforcement actions under Section 301 (unfair trade practices), Section 201 (import injury safeguards), and Section 232 (national security tariffs)