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1 President on the basis of the value of imports of the article 2 concerned during a period determined by him to be repre3 sentative. In determining the value of imports, the President 4 shall utilize, to the maximum extent practicable, the stand5 ards of valuation contained in section 402 or 402a of the 6 Tariff Act of 1930 (19 U.S.C., sec. 1401a or 1402) appli7 cable to the article concerned during such representative 8 period.

9

SEC. 706. RELATION TO OTHER LAWS.-(a) The sec10 ond and third sentences of section 2 (a) of the Act entitled 11 "An Act to amend the Tariff Act of 1930," approved 12 June 12, 1934, as amended (19 U.S.C. 1352 (a)), are each 13 amended by striking out "this Act or the Trade Expansion 14 Act of 1962" and inserting in lieu thereof "this Act or the 15 Trade Expansion Act of 1962 or the Trade Reform Act 16 of 1973."

17

(b) Action taken or considered to have been taken 18 by the President under section 231 of the Trade Expansion 19 Act of 1962 and in effect on the date of the enactment of 20 this Act shall be considered as having been taken by the

21 President under section 501 (a).

(c) Section 242 of the Trade Expansion Act of 1962 is

23 amended as follows:

24

(1) by striking out "351 and 352" in subsection

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1 (a) and inserting in lieu thereof "201, 202, and 203 of

2

2 3

4

5

6

7

8

9

10

11

the Trade Reform Act of 1973";

(2) by striking out "with respect to tariff adjust

ment" in subsection (b) (2);

(3) by striking out "301 (e)" in subsection (b) (2) and inserting in lieu thereof "201 (d) of the Trade Reform Act of 1973"; and

(4) by striking out "section 252 (d)" each place it appears and inserting in lieu thereof "subsection 301 (c) of the Trade Reform Act of 1973".

(d) Sections 202, 211, 212, 213, 221, 222, 223, 224, 12 225, 226, 231, 243, 252, 253, 254, 255, 256 (1), (2), and 13 (3), 301, 311 through 338, 361, 401, 402, 403, 404, and 14 405 (1), (3), (4), and (5) of the Trade Expansion Act of 15 1962 are repealed.

16 (e) All provisions of law (other than this Act, the 17 Trade Expansion Act of 1962, and the Trade Agreements 18 Extension Act of 1951) in effect after the date of enactment 19 of this Act, referring to section 350 of the Tariff Act of 20 1930, to that section as amended, to the Act entitled "An 21 Act to amend the Tariff Act of 1930," approved June 12, 22 1934, to that Act as amended or to the Trade Expansion 23 Act of 1962, or to agreements entered into, or proclamations 24 issued, or actions taken under any of such provisions, shall 25 be construed, unless clearly precluded by the context, to

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1 refer also to this Act, or to agreements entered into or proc2 lamations or orders issued, pursuant to this Act.

3 (f) Headnote 4 to schedule 1, part 5, subpart B of the

4 Tariff Schedules of the United States (77A Stat. 32, 19 5 U.S.C. 1202) is hereby repealed.

6 (g) The Johnson Debt Default Act (62 Stat. 744; 18 7 U.S.C. 955) is hereby repealed.

8

(h) Section 350 (a) (6) of the Tariff Act of 1930 is 9 repealed.

10

SEC. 707. CONSEQUENTIAL CHANGES IN THE TARIFF 11 SCHEDULES.-The President shall from time to time, as ap12 propriate, embody in the Tariff Schedules of the United 13 States the substance of the relevant provisions of this Act, 14 and of other Acts affecting import treatment, and actions 15 thereunder, including modification, continuance, or imposition 16 of any rate of duty or other import restriction.

17

18

SEC. 708. SIMPLIFICATION AND MODIFICATION OF THE TARIFF SCHEDULES.-(a) If the President determines 19 that such action will simplify or clarify the Tariff Schedules 20 of the United States, or that it will reduce barriers to inter21 national trade, he may from time to time, upon recommen22 dation of the Tariff Commission, modify or amend the Tariff 23 Schedules of the United States, which modification or amend24 ment may include, without limitation:

25

(1) establishment of new classification;

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(2) transfer of particular articles from one clas

1

2

sification to another classification; and

4 Provided, That except as authorized in subsection (b),

such

5 action shall not result in any modification of any rate of duty 6 or other import restriction. This subsection shall not be 7 deemed, however, to authorize the adoption of a revised 8 tariff nomenclature in place of the Tariff Schedules of the 9 United States.

10

(b) If the President determines that such action would 11 contribute to the simplification or clarification of the Tariff

12 Schedules, he may

13

14

15

16

17

18

(1) modify the rate of duty applicable to any article, or impose or eliminate a rate of duty in respect of any article, provided that no rate of duty or dutyfree treatment may be changed by more than 1 per

centum ad valorem (or the ad valorem equivalent) from the rate existing on the effective date of this Act, or as modified in accordance with the provisions of any trade 20 agreement concluded in accordance herewith;

.19

21

222

(2) subject to subsection (d), modify the rate of duty applicable to any article or impose or eliminate a rate of duty in respect of any article, without regard to the limitation contained in paragraph (1) of this sub

section, or modify another import restriction, applicable

to an article, or group of articles, the annual imports of

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1 which have in none of the immediately preceding ten

3

(c) Before recommending to the President any action 4 under this section the Tariff Commission shall publish in 5 the Federal Register a public notice of the type of modifica6 tion of the Tariff Schedules which it has under consideration, 7 and shall give interested parties adequate opportunity for 8 the presentation of their views to the Commission.

9

15

(d) Following any modification of the type authorized 10 by subsection (b) (2) which has, or could have, the effect 11 of reducing or eliminating a duty or other import restriction, 12 the Tariff Commission shall, for a period of five years follow13 ing the effective date of such modification, observe the effect, 14 if any, of the modification on the importation of the article, or group of articles, involved. The Commission shall 16 promptly report to the President any substantial increase in 17 the imports of such article, or group of articles, during such 18 five-year period. If the President determines that an effect 19 of the modification has been a substantial increase in the 20 imports of such article or group, and that such increase has 21 resulted, or is likely to result, in injury to the domestic indus22 try producing the like or directly competitive article, he shall 23 promptly terminate the modification of the duty or other 24 import restriction of such article or group of articles. 25 (e) The President may at any time terminate, in whole 26 or in part, any action taken under this section.