Protecting American Streaming and Innovation Act

This bill requires the U.S. Trade Representative to investigate Canada's Online Streaming Act for discriminatory digital trade practices against U.S. companies, and authorizes potential retaliatory trade actions if Canada does not remedy the measures. Sec. 3, Investigation: The U.S. Trade Representative must start an investigation within 30 days of enactment under section 301 of the Trade Act of 1974 to determine if Canada's Online Streaming Act and related CRTC actions are unreasonable or discriminatory and burden U.S. commerce. The investigation must consult affected U.S. streaming businesses, trade associations, labor, and cultural groups, and coordinate with Commerce, State, and the International Trade Commission. If an affirmative determination is made, the Trade Representative must publish it and consider actions like suspending trade benefits or imposing duties. If negative, a report to Congress is required. Sec. 4, Reporting: Within 90 days, the Trade Representative must report to Congress on the investigation, Canada's regulatory schedule, and preliminary impact findings. Quarterly updates for two years must describe consultations, enforcement actions, and bilateral engagement. A public non-confidential summary must be released. Sec. 5, Retaliatory actions: If Canada has not taken satisfactory steps within 180 days of an affirmative determination, the Trade Representative must take action under section 301(c), which may include suspending USMCA concessions or imposing duties on Canadian goods. Before acting, the Trade Representative must notify Congress and consult stakeholders. Actions can be terminated if Canada eliminates or modifies the measures to the Trade Representative's satisfaction. Sec. 6, Other countries: If any other country with a U.S. free trade agreement takes similar actions, the Trade Representative must apply the same investigation and action provisions to that country. Sec. 7, Definitions: Defines 'appropriate congressional committees' as House Ways and Means and Senate Finance, and 'online streaming service' as any digital service delivering audiovisual or audio programming to users in Canada.