3 SUBCHAPTER C--GENERAL PROVISIONS Sec. 237. Agreements with States. Sec. 238. Administration absent State agreement. Sec. 239. Payments to States. Sec. 240. Liabilities of certifying and disbursing officers. Sec. 241. Recovery of overpayments. Sec. 242. Penalties. Sec. 243. Authorization of appropriations. Sec. 244. Transitional provisions. Sec. 245. Definitions. Sec. 246. Administrative provision. TITLE III-RELIEF FROM UNFAIR TRADE PRACTICES CHAPTER 1-FOREIGN IMPORT RESTRICTIONS Sec. 301. Responses to unfair foreign import restrictions and export subsidies. CHAPTER 2-ANTIDUMPING DUTIES Sec. 310. Amendments to the Antidumping Act of 1921. CHAPTER 3-COUNTERVAILING DUTIES Sec. 330. Amendments to section 303 of the Tariff Act of 1930. CHAPTER 4-UNFAIR PRACTICES IN IMPORT TRADE Sec. 350. Amendments to section 337 of the Tariff Act. TITLE IV-INTERNATIONAL TRADE POLICY MANAGEMENT Sec. 401. Balance-of-payments authority. Sec. 402. Withdrawal of concessions and similar adjustments. Sec. 403. Renegotiation of duties. Sec. 404. Compensation authority. Sec. 405. Authority to suspend import barriers to restrain inflation. Sec. 406. Reservation of articles for national security and other reasons. Sec. 407. Most-favored-nation principle. Sec. 408. Authority to terminate actions. Sec. 409. Period of trade agreements. Sec. 410. Public hearings in connection with agreements under title IV. Sec. 411. Authorization for GATT appropriations. TITLE V-TRADE RELATIONS WITH COUNTRIES NOT Sec. 501. Exception of the products of certain countries or areas. Sec. 503. Additional provisions. Sec. 504. Extension of most-favored-nation treatment. Sec. 506. Effects on other laws. 1 4 TITLE VI-GENERALIZED SYSTEM OF PREFERENCES Sec. 601. Purposes. Sec. 602. Authority to extend preferences. Sec. 603. Eligible articles. Sec. 604. Beneficiary developing country. Sec. 605. Limitations on preferential treatment. Sec. 606. Definitions. Sec. 607. Effective period of preferences. TITLE VII-GENERAL PROVISIONS Sec. 701. Authorities. Sec. 702. Reports. Sec. 703. Tariff Commission. Sec. 704. Separability. Sec. 705. Definitions. Sec. 706. Relation to other laws. Sec. 707. Consequential changes in the Tariff Schedules. Sec. 708. Simplification and modification of the Tariff Schedules. SECTION 1. SHORT TITLE.-This Act may be cited as 2 the "Trade Reform Act of 1973". 3 SEC. 2. STATEMENT OF PURPOSES.-The purposes of 4 this Act are (a) to provide authority in the trade field supporting United States participation in an interrelated effort to develop an open, nondiscriminatory and fair world economic system through reform of international trade rules, formulation of international standards for investment and tax laws and policies, and improvement of the international monetary system; (b) to facilitate international cooperation in economic affairs for the purpose of providing a means of solving international economic problems, furthering peace and raising standards of living throughout the world; 96-006 -73-pt. 1--3 1 2 3 4 5 6 7 8 9 5 (c) to stimulate the economic growth of the United States and enlarge foreign markets for the products of United States commerce (including agriculture, manufacturing, mining, and fishing) by furthering the expan sion of world trade through the progressive reduction and elimination of barriers to trade on a basis of mutual benefit and equity; (d) to establish a program of temporary import relief to facilitate adjustment of sections of the domestic economy adversely affected by increased imports, consistent with anticipated multilateral safeguard rules being 12 negotiated with other trading nations; 10 11 23 13 (e) to provide trade adjustment assistance to work ers adversely affected by increased imports; (f) improve the means of dealing with problems of unfair import competition; (g) to provide additional authority for the President to facilitate his negotiations with foreign nations to obtain for exports of American producers fair treat ment and equitable access to foreign markets; (h) to provide the President with more flexible authority to deal with matters affecting trade, including the full exercise of United States rights in the context of international agreements and the use of temporary 1 2 3 4 5 6 7 8 9 10 6 measures to deal with balance of payments disequilibria and to restrain inflation; (i) to enable the United States to take advantage of new trade opportunities with countries with which it has not had trade agreement relations in the recent past; and (j) to provide for United States participation in the common effort of developed countries to open their markets on a generalized preferential basis to the products of developing countries. 11 TITLE I-AUTHORITY FOR NEW NEGOTIATIONS 12 13 CHAPTER 1-GENERAL AUTHORITIES SEC. 101. BASIC AUTHORITY FOR TRADE AGREE 14 MENTS.-Whenever the President determines that any of the 15 purposes of this Act will be promoted thereby, the President 16 may (1) after the date of enactment of this Act, and before five years from that date, enter into trade agree ments with foreign countries or instrumentalities thereof; and (2) provide for such modification or continuance of any existing duty, such continuance of existing duty'free or excise treatment, or such additional duties, as he determines to be required or appropriate to carry out any such trade agreement. 1 7 SEC. 102. STAGING REQUIREMENTS AND ROUNDING 2 AUTHORITY.-(a) Except as otherwise provided in this 3 section, the aggregate reduction in the rate of duty on any 4 article which is in effect on any day pursuant to a trade 5 agreement under this title shall not exceed the aggregate 6 reduction which would have been in effect on such day(1) one-fifth of the total reduction under such agreement or a reduction of 3 per centum ad valorem (or ad valorem equivalent) whichever is greater, had taken effect on the date of the first action pursuant to section 101 (b) to carry out such trade agreement, and 7 8 9 10 11 231 14 15 16 17 (2) the remainder of such total reduction had taken effect at one-year intervals after the date referred to in pargaraph (1) in installments equal to the greater of 3 per centum ad valorem (or ad valorem equivalent) or one-fourth of such remainder. (b) After any part of a reduction takes effect, then any 18 time thereafter during which such part of the reduction is not 19 in effect by reason of action taken pursuant to chapter 1 of 20 title II of this Act shall be excluded in determining the one21 year intervals referred to in subsection (a) (2). 22 (c) If the President determines that such action will 23 simplify the computation of the amount of duty imposed with 24 respect to an article, he may exceed the limitation provided |