United States Trade Enhancement Act of 2006 - Amends the Tariff Act of 1930 with respect to antidumping or countervailing duty reviews by the administering authority. Suspends, from April 1, 2006, until June 30, 2009, the requirement that the administering authority direct the Customs Service to allow, at the importer's option, the posting of a bond or security in lieu of a cash deposit, until completion of the review, for each entry of the subject merchandise (bonding privileges).
Requires the Secretary of the Treasury to report to specified congressional committees on: (1) the impact of such suspension; (2) any major problem in the collection of duties during the four most recent fiscal years; and (3) an analysis of proposed solutions for such problems.
Modifies the composition of the Office of the U.S. Trade Representatives (USTR) to include a General Counsel.
Requires the USTR to establish an interagency Trade Enforcement Working Group to assist the General Counsel.
Amends the Trade Act of 1974 to require the USTR to identify and report annually to specified congressional committees: (1) on U.S. trade enforcement priorities; (2) enforcement actions and their impact; and (3) priority foreign country trade practices on which the USTR will focus enforcement efforts.
International Monetary and Financial Policy Cooperation Act of 2006 - Amends the Omnibus Trade and Competitiveness Act of 1988 to repeal the Exchange Rates and International Economic Policy Coordination Act of 1988.
Requires the President to establish an Advisory Committee on International Monetary and Financial Policy, and the Secretary of the Treasury to report annually to Congress on international economic policy and currency exchange rates.
Specifies subsequent actions the Secretary shall take with respect to each currency of the major economies or economic areas that are in fundamental misalignment for which the misalignment causes, or contributes to, a material adverse impact on the U.S. economy.
Specifies conditions for U.S. approval of a proposed change in the governance arrangement of any international financial institution.
Amends the Tariff Act of 1930 to modify factors for determining if a foreign country is a "nonmarket economy country."
Provides for an additional Assistant Secretary of the Treasury.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2467 Placed on Calendar Senate (PCS)]
Calendar No. 381
109th CONGRESS
2d Session
S. 2467
To enhance and improve the trade relations of the United States by
strengthening United States trade enforcement efforts and encouraging
United States trading partners to adhere to the rules and norms of
international trade, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 28, 2006
Mr. Grassley (for himself, Mr. Baucus, Mr. DeMint, Ms. Stabenow, Mr.
Lugar, Mr. Levin, Mr. Santorum, Mr. Craig, Mr. Chafee, Mr. Crapo, and
Mrs. Dole) introduced the following bill; which was read the first time
March 29, 2006
Read the second time and placed on the calendar
_______________________________________________________________________
A BILL
To enhance and improve the trade relations of the United States by
strengthening United States trade enforcement efforts and encouraging
United States trading partners to adhere to the rules and norms of
international trade, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``United States Trade Enhancement Act
of 2006''.
TITLE I--ENFORCEMENT PROVISIONS
SEC. 101. SUSPENSION OF NEW SHIPPER REVIEW PROVISION.
(a) Suspension of the Availability of Bonds to New Shippers.--
Clause (iii) of section 751(a)(2)(B) of the Tariff Act of 1930 (19
U.S.C. 1675(a)(2)(B)(iii)) shall not be effective during the period
beginning on April 1, 2006, and ending on June 30, 2009.
(b) Report on the Impact of the Suspension.--Not later than
December 31, 2008, the Secretary of the Treasury, in consultation with
the Secretary of Commerce, the United States Trade Representative, and
the Secretary of Homeland Security, shall submit to the Committee on
Ways and Means of the House of Representatives and the Committee on
Finance of the Senate a report containing--
(1) recommendations on whether the suspension of section
751(a)(2)(B)(iii) of the Tariff Act of 1930 should be extended
beyond the date provided in subsection (a); and
(2) an assessment of the effectiveness of any
administrative measure that was implemented to address the
difficulties that necessitated the suspension under subsection
(a), including--
(A) any problem in the collection of antidumping
duties on imports from new shippers; and
(B) any burden imposed on legitimate trade and
commerce by the suspension of bonds to new shippers.
(c) Report on Collection Problems and Analysis of Proposed
Solutions.--
(1) Report.--Not later than 180 days after the date of the
enactment of this Act, the Secretary of the Treasury, in
consultation with the Secretary of Homeland Security and the
Secretary of Commerce, shall submit to the Committee on Ways
and Means of the House of Representatives and the Committee on
Finance of the Senate a report describing--
(A) any major problem experienced in the collection
of duties during the 4 most recent fiscal years for
which data are available, including any fraudulent
activity intended to avoid payment of duties; and
(B) an estimate of the total amount of duties that
were uncollected during the most recent fiscal year for
which data are available, including, with respect to
each product, a description of why the duties were
uncollected.
(2) Recommendations.--The report shall include--
(A) recommendations on any additional action needed
to address problems related to the collection of
duties; and
(B) for each recommendation--
(i) an analysis of how the recommendation
would address the specific problem; and
(ii) an assessment of the impact that
implementing the recommendation would have on
international trade and commerce (including any
additional costs imposed on United States
businesses).
SEC. 102. TRADE ENFORCEMENT PERSONNEL.
(a) Deputy United States Trade Representatives; General Counsel.--
Section 141(b)(2) of the Trade Act of 1974 (19 U.S.C. 2171(b)(2)) is
amended to read as follows:
``(2) There shall be in the Office three Deputy United States Trade
Representatives, 1 Chief Agricultural Negotiator, and 1 General
Counsel. The 3 Deputy United States Trade Representatives, the Chief
Agricultural Negotiator, and the General Counsel, shall be appointed by
the President, by and with the advice and consent of the Senate. As an
exercise of the rulemaking authority of the Senate, any nomination of a
Deputy United States Trade Representative, the Chief Agricultural
Negotiator, or the General Counsel, submitted to the Senate for its
advice and consent, and referred to a committee, shall be referred to
the Committee on Finance. Each Deputy United States Trade
Representative, the Chief Agricultural Negotiator, and the General
Counsel, shall hold office at the pleasure of the President. Each
Deputy United States Trade Representative and the Chief Agricultural
Negotiator shall have the rank of Ambassador.''.
(b) Functions of Position.--Section 141(c) of the Trade Act of 1974
(19 U.S.C. 2171(c)) is amended--
(1) by moving paragraph (5) 2 ems to the left; and
(2) by adding at the end the following new paragraph:
``(6) A principal function of the General Counsel shall be to
ensure that United States trading partners comply with obligations
assumed under trade agreements to which the United States is a party.
The General Counsel shall assist the United States Trade Representative
in investigating and prosecuting disputes pursuant to trade agreements
to which the United States is a party, including before the World Trade
Organization, and shall assist the United States Trade Representative
in carrying out the Trade Representative's functions under subsection
(d). The General Counsel shall make recommendations with respect to the
administration of United States trade laws relating to foreign
government barriers to United States goods, services, investment, and
intellectual property, and with respect to government procurement and
other trade matters. The General Counsel shall perform such other
functions as the Trade Representative may direct.''.
(c) Compensation; Effective Date.--
(1) In general.--Section 5315 of title 5, United States
Code, is amended by adding at the end the following new item:
``General Counsel of the Office of the United States Trade
Representative.''.
(2) Effective date.--The amendment made by this subsection
shall take effect on the date that an individual nominated by
the President to the position of General Counsel of the Office
of the United States Trade Representative is confirmed by the
United States Senate.
(d) Continuation in Office.--The individual serving as General
Counsel in the Office of the United States Trade Representative on the
day before the date of the enactment of this Act may serve in the
General Counsel position established pursuant to subsection (a) as
Acting General Counsel until the date that an individual nominated to
such position by the President is confirmed by the United States
Senate.
(e) Trade Enforcement Working Group.--Not later than 90 days after
the date of the enactment of this Act, the United States Trade
Representative shall establish an interagency Trade Enforcement Working
Group.
(1) Chairperson.--The Trade Enforcement Working Group shall
be chaired by the General Counsel of the Office of the United
States Trade Representative and shall include the Assistant
Secretary for Market Access and Compliance in the Department of
Commerce, as well as other appropriate representatives from the
Department of Commerce, and the Departments of State, Treasury,
and Agriculture, and such other departments and agencies as the
Trade Representative considers appropriate.
(2) Duties.--The Trade Enforcement Working Group shall
assist the General Counsel of the Office of the United States
Trade Representative in carrying out the principal functions
described in section 141(c)(6) of the Trade Act of 1974.
(f) Identification of Trade Enforcement Priorities.--
(1) In general.--Section 310 of the Trade Act of 1974 (19
U.S.C. 2420) is amended to read as follows:
``SEC. 310. IDENTIFICATION OF TRADE ENFORCEMENT PRIORITIES.
``(a) Identification and Annual Report.--On or before the date that
is 90 days after the date that the report required by section 181(b) is
due to be submitted each calendar year, the United States Trade
Representative shall--
``(1) identify the trade enforcement priorities of the
United States;
``(2) identify trade enforcement actions undertaken by the
United States during the preceding year and provide an
assessment of the impact such trade enforcement actions have
had in addressing foreign trade barriers;
``(3) determine the priority foreign country trade
practices on which the Trade Representative will focus the
trade enforcement efforts of the United States; and
``(4) submit to the Committee on Finance of the Senate and
the Committee on Ways and Means of the House of Representatives
a written report on the priorities, actions, and assessments
required by paragraphs (1) and (2), as well as a
nonconfidential summary of the determination required by
paragraph (3), and cause such report and summary to be
published in the Federal Register.
``(b) Factors To Consider.--In reaching the determination required
by subsection (a)(3), the Trade Representative shall take into account
all relevant factors, including--
``(1) the economic significance of any potential
inconsistency between an obligation assumed by a foreign
government pursuant to a trade agreement to which the United
States is a party, and the policies or practices of such
foreign government;
``(2) the major barriers and trade distorting practices
described in the National Trade Estimate Report required under
section 181(b);
``(3) the findings in other relevant reports addressing
international trade and investment prepared by the United
States Trade Representative during the 12 months preceding the
date on which the report required by subsection (a)(4) is due
to be submitted;
``(4) the implications of a foreign government's
procurement plans and policies;
``(5) the international competitive position and export
potential of United States products and services; and
``(6) the extent to which United States intellectual
property rights are being infringed upon.
``(c) Consultation Prior to Report.--Not later than 45 days before
the date on which the report required by subsection (a)(4) is due to be
submitted, the General Counsel of the Office of the United States Trade
Representative shall--
``(1) appear before an open session of the Committee on
Finance of the Senate and the Committee on Ways and Means of
the House of Representatives to receive congressional input on
the determination and assessment required by subsection (a)(3);
and
``(2) provide an opportunity (after giving not less than 30
days notice) for the presentation of views by interested
persons with respect to the determination and assessment
required by subsection (a)(3), including a public hearing if
requested by any interested person.
``(d) Consultation After Report.--Not later than 30 days after the
date on which the report required by subsection (a)(4) is due to be
submitted each calendar year, the General Counsel of the Office of the
United States Trade Representative shall appear before closed sessions
of the Committee on Finance of the Senate and the Committee on Ways and
Means of the House of Representatives to brief each committee on the
determination required by subsection (a)(3).''.
(2) Conforming amendment.--The table of contents for the
Trade Act of 1974 is amended by striking the item relating to
section 310, and inserting the following new item:
``Sec. 310. Identification of trade enforcement priorities.''.
(g) Technical Amendments.--Section 141(e) of the Trade Act of 1974
(19 U.S.C. 2171(e)) is amended--
(1) in paragraph (1), by striking ``5314'' and inserting
``5315''; and
(2) in paragraph (2), by striking ``the maximum rate of pay
for grade GS-18, as provided in section 5332'' and inserting
``the maximum rate of pay for level IV of the Executive
Schedule, as provided in section 5315''.
TITLE II--INTERNATIONAL MONETARY AND FINANCIAL POLICY
SEC. 201. SHORT TITLE.
This title may be cited as the ``International Monetary and
Financial Policy Cooperation Act of 2006''.
SEC. 202. FINDINGS.
Congress finds as follows:
(1) Section 3004 of the Omnibus Trade and Competitiveness
Act of 1988 (22 U.S.C. 5304) requires the Secretary of the
Treasury to undertake multilateral or bilateral negotiations
with countries that have material global current account
surpluses and have significant bilateral trade surpluses with
the United States if the Secretary considers that such a
country is manipulating its currency for purposes of preventing
effective balance of payments adjustment or gaining unfair
competitive advantage in international trade.
(2) The global economy has changed dramatically since 1988,
with increased capital account openness, a sharp increase in
the flow of funds internationally, and an ever growing number
of emerging market economies becoming systemically important to
the global flow of goods, services, and capital. In addition,
practices such as the maintenance of multiple currency regimes
have become rare.
(3) As a result of the evolutionary changes in the
international monetary and financial system, the 1988 concept
of currency manipulation appears increasingly dated.
(4) While some degree of surpluses and deficits in payments
balances may be expected, particularly in response to
increasing economic globalization, large and growing imbalances
raise concerns of possible disruption to financial markets. In
part, such imbalances often reflect exchange rate policies that
foster fundamental misalignment of currencies.
(5) Currencies in fundamental misalignment can seriously
impair the ability of international markets to adjust
appropriately to global capital and trade flows, threatening
trade flows and causing economic harm to the United States.
(6) The effects of a fundamentally misaligned currency may
be so harmful that it is essential to correct the fundamental
misalignment without regard to the purpose of any policy that
contributed to the misalignment.
(7) Article IV of the International Monetary Fund Articles
of Agreement states that in order to facilitate the exchange of
goods, services, and capital among countries, to sustain sound
economic growth, and to foster financial and economic
stability, each member of the International Monetary Fund shall
avoid manipulating exchange rates in order to prevent effective
balance of payments adjustment or to gain an unfair competitive
advantage over other members.
(8) The failure of a government to acknowledge a
fundamental misalignment of its currency or to take steps to
correct such a fundamental misalignment, either through
inaction or mere token action, is a form of exchange rate
manipulation and is inconsistent with that government's
obligations under Article IV of the International Monetary Fund
Articles of Agreement.
SEC. 203. DEFINITIONS.
In this title:
(1) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(2) Fundamental misalignment.--The term ``fundamental
misalignment'' means a material sustained disparity between the
observed levels of an effective exchange rate for a currency
and the corresponding levels of an effective exchange rate for
that currency that would be consistent with fundamental
macroeconomic conditions based on a generally accepted economic
rationale.
(3) Effective exchange rate.--The term ``effective exchange
rate'' means a weighted average of bilateral exchange rates,
expressed in either nominal or real terms.
(4) Generally accepted economic rationale.--The term
``generally accepted economic rationale'' means an explanation
drawn on widely recognized macroeconomic theory for which there
is a significant degree of empirical support.
SEC. 204. REPEAL OF THE EXCHANGE RATES AND INTERNATIONAL ECONOMIC
POLICY COORDINATION ACT OF 1988.
Subtitle A of title III of the Omnibus Trade and Competitiveness
Act of 1988 (22 U.S.C. 5301-5306) is repealed.
SEC. 205. ADVISORY COMMITTEE ON INTERNATIONAL MONETARY AND FINANCIAL
POLICY.
(a) Establishment.--
(1) In general.--The President shall establish an Advisory
Committee on International Monetary and Financial Policy (in
this title referred to as the ``Committee'') to advise the
Secretary in the preparation of an annual report to Congress on
International Economic Policy and Currency Exchange Rates
(described in section 206) and to otherwise advise the
President with respect to international monetary and financial
policy and the impact of the policy on the economy of the
United States.
(2) Membership.--The Committee shall be comprised of no
more than 7 individuals drawn from outside of the Federal
Government. Members of the Committee shall be recommended by
the Secretary on the basis of their objectivity and
demonstrated expertise in finance, economics, or currency
exchange, and appointed by the President for a term of 4 years
or until the Committee expires. An individual may be
reappointed to the Committee for additional terms. Appointments
to the Committee shall be made without regard to political
affiliation.
(b) Duration of Committee.--The Committee shall terminate on the
date that is 4 years after the date of the enactment of this Act unless
renewed by the President pursuant to section 14 of the Federal Advisory
Committee Act (5 U.S.C. App.) for a subsequent 4-year period. The
President may continue to renew the Committee for successive 4-year
periods by taking appropriate action prior to the date on which the
Committee would otherwise terminate.
(c) Public Meetings.--The Committee shall hold at least 1 public
meeting each year for the purpose of accepting public comments. The
Committee shall also meet as needed at the call of the Secretary or at
the call of two-thirds of the members of the Committee.
(d) Chairperson.--The Committee shall elect from among its members
a chairperson for a term of 4 years or until the Committee terminates.
A chairperson of the Committee may be reelected chairperson but is
ineligible to serve consecutive terms as chairperson.
(e) Staff.--The Secretary shall make available to the Committee
such staff, information, personnel, administrative services, and
assistance as the Committee may reasonably require to carry out its
activities.
(f) Application of Federal Advisory Committee Act.--
(1) In general.--The provisions of the Federal Advisory
Committee Act (5 U.S.C. App.) apply to the Committee.
(2) Exception.--Except for the annual public meeting
required under subsection (c), meetings of the Committee shall
be exempt from the requirements of subsections (a) and (b) of
sections 10 and 11 of the Federal Advisory Committee Act
(relating to open meetings, public notice, public
participation, and public availability of documents), whenever
and to the extent it is determined by the President or the
Secretary that such meetings will be concerned with matters the
disclosure of which would seriously compromise the development
by the United States Government of international monetary and
financial policy.
SEC. 206. REPORTING REQUIREMENTS.
(a) Reports Required.--
(1) In general.--The Secretary, after consulting with the
Chairman of the Board of Governors of the Federal Reserve
System and the Committee, shall submit to Congress, on or
before October 15 of each year, a written report on
international economic policy and currency exchange rates.
(2) Interim report.--The Secretary, after consulting with
the Chairman of the Board of Governors of the Federal Reserve
System and the Committee, shall submit to Congress, on or
before April 15 of each year, a written report on interim
developments with respect to international economic policy and
currency exchange rates.
(b) Contents of Report.--Each report submitted under subsection (a)
shall contain--
(1) an analysis of currency market developments and the
relationship between the United States dollar and the
currencies of major economies and United States trading
partners;
(2) a review of the economic and financial policies of
major economies and United States trading partners and an
evaluation of how such policies impact currency exchange rates;
(3) a description of any currency intervention by the
United States or other major economies or United States trading
partners, or other actions undertaken to adjust the actual
exchange rate of the dollar;
(4) an evaluation of the factors that underlie conditions
in the currency markets, including--
(A) monetary and financial conditions;
(B) foreign exchange reserve accumulation;
(C) macroeconomic trends;
(D) trends in current and financial account
balances;
(E) the size, composition, and growth of
international capital flows;
(F) the impact of the external sector on economic
growth;
(G) the size and growth of external indebtedness;
(H) trends in the net level of international
investment; and
(I) capital controls, trade, and exchange
restrictions;
(5) a list of currencies of the major economies or economic
areas that are in fundamental misalignment (as defined in
section 203(2)), and a description of any economic models or
methodologies used to establish the list;
(6) a description of any reason or circumstance that
accounts for why each currency identified under paragraph (5)
is in fundamental misalignment based on a generally accepted
economic rationale;
(7) a list of each currency identified under paragraph (5)
for which the fundamental misalignment causes, or contributes
to, a material adverse impact on the economy of the United
States, including a description of any reason or circumstance
that explains why the fundamental misalignment is not accounted
for under paragraph (6); and
(8) the results of any prior consultations conducted or
other steps taken pursuant to section 207.
(c) Development of Report.--The Secretary shall consult with the
Chairman of the Board of Governors of the Federal Reserve System and
the Committee with respect to the preparation of each report required
under subsection (a). Any comments provided by the Chairman of the
Board of Governors of the Federal Reserve System and the Committee
shall be submitted to the Secretary not later than the date that is 15
days before the date each report is due under subsection (a). The
Secretary shall submit the report after taking into account all
comments received.
SEC. 207. SUBSEQUENT ACTIONS.
(a) Negotiations and Consultations.--With respect to each currency
identified under section 206(b)(7), the Secretary shall--
(1) seek to enter into bilateral consultations with the
government responsible for the currency in order to facilitate
the adoption of appropriate policies to eliminate the
fundamental misalignment;
(2) seek the advice of the International Monetary Fund with
respect to the Secretary's findings in the report submitted to
Congress under section 206; and
(3) encourage other governments, whether bilaterally or in
appropriate multinational fora, to join the United States in
seeking the adoption of appropriate policies by such government
to eliminate the fundamental misalignment.
(b) Additional Action.--
(1) In general.--If, not later than 60 days after the date
on which a currency is identified under section 206(b)(7), the
government responsible for such currency fails to enter into
bilateral consultations with the United States in order to
facilitate the adoption of appropriate policies to eliminate
the fundamental misalignment, the following shall apply until a
notification described in paragraph (2) is provided to
Congress:
(A) The Overseas Private Investment Corporation
shall not approve any new financing (including
insurance, reinsurance, or guarantee) with respect to a
project located within the territory governed by such
government.
(B) The Secretary shall instruct the United States
Executive Director at each multilateral bank to oppose
the approval of any new financing (including loans,
other credits, insurance, reinsurance, or guarantee) to
such government or for a project within the territory
governed by such government.
(C) The United States shall request that the
International Monetary Fund engage in discussions with
such government, including through special
consultations, if appropriate, in order to facilitate
the adoption of appropriate policies to eliminate the
fundamental misalignment.
(2) Notification.--The Secretary shall promptly notify
Congress when bilateral consultations are initiated with a
government pursuant to this subsection, and shall cause such
notice to be published in the Federal Register.
(c) Failure To Adopt Changes.--
(1) In general.--Not later than 180 days after the date on
which a currency is identified under section 206(b)(7), the
Secretary shall determine whether the government responsible
for such currency has failed to adopt appropriate policies to
eliminate the fundamental misalignment, and shall promptly
report such determination to Congress. If the Secretary
determines that the government responsible for such currency
has failed to adopt appropriate policies to eliminate the
fundamental misalignment, the following shall apply until a
notification described in paragraph (2) is provided to
Congress:
(A) The Overseas Private Investment Corporation
shall not approve any new financing (including
insurance, reinsurance, or guarantee) with respect to a
project located within the territory governed by such
government.
(B) The Secretary shall instruct the United States
Executive Director at each multilateral bank to oppose
the approval of any new financing (including loans,
other credits, insurance, reinsurance, or guarantee) to
such government or for a project within the territory
governed by such government.
(C) The United States shall inform the Managing
Director of the International Monetary Fund of the
failure of such government to address a fundamental
misalignment of its currency that is causing a material
adverse impact on the economy of the United States, and
shall request that the Managing Director of the
International Monetary Fund consult with such
government regarding the observance of the government's
obligations under Article IV of the International
Monetary Fund Articles of Agreement, including through
special consultations, if necessary, and formally
report the results of such consultations to the
Executive Board of the International Monetary Fund
within 180 days of the date of such request.
(2) Notification.--The Secretary shall promptly notify
Congress when such government adopts appropriate policies to
eliminate the fundamental misalignment, and shall cause such
notice to be published in the Federal Register.
(3) Waiver.--The President may waive any action provided
for under this subsection if the President determines that it
is in the vital economic interest of the United States to do
so. The President shall promptly notify Congress of such
determination (and the reasons for the determination) and shall
cause such notice to be published in the Federal Register.
SEC. 208. INTERNATIONAL FINANCIAL INSTITUTION GOVERNANCE ARRANGEMENTS.
(a) Initial Review.--Notwithstanding any other provision of law,
before the United States approves a proposed change in the governance
arrangement of any international financial institution, as defined in
section 1701(c)(2) of the International Financial Institutions Act (22
U.S.C. 262r(c)(2)), the Secretary shall determine whether any member of
the international financial institution that would benefit from the
proposed change, in the form of increased voting shares or
representation, has a currency that is in fundamental misalignment, and
if so, whether the fundamental misalignment causes or contributes to a
material adverse impact on the economy of the United States. The
determination shall be reported to Congress.
(b) Subsequent Action.--The United States shall oppose any proposed
change in the governance arrangement of any international financial
institution (as defined in subsection (a)), if the Secretary renders an
affirmative determination pursuant to subsection (a).
(c) Further Action.--The United States shall continue to oppose any
proposed change in the governance arrangement of an international
financial institution, pursuant to subsection (b), until the Secretary
determines and reports to Congress that the currency of each member of
the international financial institution that would benefit from the
proposed change, in the form of increased voting shares or
representation, is not in fundamental misalignment.
SEC. 209. NONMARKET ECONOMY STATUS.
(a) In General.--Paragraph (18)(B)(vi) of section 771 of the Tariff
Act of 1930 (19 U.S.C. 1677(18)(B)(vi)) is amended by inserting before
the end period the following: ``, including whether the currency of the
foreign country has been identified pursuant to section 206(b)(7) of
the International Monetary and Financial Policy Cooperation Act of 2006
in any written report required by section 206(a) of such Act during the
24-month period immediately preceding the month during which the
administering authority seeks to revoke a determination that such
foreign country is a nonmarket economy country''.
(b) Termination.--The amendment made by this section shall be in
effect during the 10-year period beginning on the date of the enactment
of this Act.
SEC. 210. ADDITIONAL ASSISTANT SECRETARY.
(a) In General.--
(1) Additional assistant secretary.--Section 5315 of title
5, United States Code, is amended by striking ``(8)'' in the
item relating to Assistant Secretaries of the Treasury, and
inserting ``(9)''.
(2) Duties and responsibilities.--In designating the
duties, responsibilities, and title of the Assistant Secretary
of the Treasury established pursuant to paragraph (1), the
Secretary may redesignate, in whole or in part, the duties,
responsibilities, and title of any position of Assistant
Secretary of the Treasury in existence on the day before the
date of the enactment of this Act.
(b) Continuation in Office.--The individual serving as Assistant
Secretary for International Affairs in the Office of International
Affairs of the Department of the Treasury on the day before the date of
the enactment of this Act may serve in any position designated or
redesignated pursuant to subsection (a) until the date a person
nominated to such position by the President is confirmed by the United
States Senate.
TITLE III--AUTHORIZATION OF APPROPRIATIONS
SEC. 301. OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE.
Section 141(g)(1)(A) of the Trade Act of 1974 (19 U.S.C.
2171(g)(1)(A)) is amended by striking clauses (i) and (ii) and
inserting the following:
``(i) $47,800,000 for fiscal year 2007.
``(ii) $49,700,000 for fiscal year 2008.''.
Calendar No. 381
109th CONGRESS
2d Session
S. 2467
_______________________________________________________________________
A BILL
To enhance and improve the trade relations of the United States by
strengthening United States trade enforcement efforts and encouraging
United States trading partners to adhere to the rules and norms of
international trade, and for other purposes.
_______________________________________________________________________
March 29, 2006
Read the second time and placed on the calendar
Introduced in Senate
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 381.
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