Permits persons who use an article in the production of a product in the United States, or import an article into the United States, or who distribute such an article to file with the International Trade Commission a petition requesting the President to issue a proclamation suspending all duties imposed on such article by the Harmonized Tariff Schedule of the United States.
Permits domestic producers of articles for which duties are suspended, or of like or directly competitive articles, to petition the President to reinstate such duties.
Directs the Commission, upon petition with sufficient justifying information, to investigate the suspension or reinstatement of duties. Sets forth determinations to be made through such an investigation, including determinations as to: (1) whether domestic producers of affected articles object to a suspension of duties on such articles; and (2) the aggregate amount of Federal revenue derived from such duties. Requires the Commission to: (1) provide an opportunity for any person to submit written and oral statements on the subject; and (2) submit reports on its investigation for publication in the Federal Register, to the petitioner, and to the President within specified time periods.
Declares that Commission determinations shall not be reviewable in any court.
Authorizes the President, within 30 days after the Commission submits a report on suspending duties, to suspend all duties on an article if he determines that: (1) no person has a valid objection to such a suspension; and (2) the aggregate values of such imports and Federal revenue derived therefrom do not exceed specified amounts. Prohibits the President from suspending column two duty rates imposed by the Schedule on any article.
Requires the President, if he does not suspend all duties on an article, to publish a written explanation of that decision. Limits the length of such a suspension of duties to three years.
Requires the President, within 30 days after the Commission submits a report on the reinstatement of duties on an article for which duties had been suspended, to: (1) reinstate such duties if he determines that a person has a valid objection to such suspension; and (2) publish any negative determination. Makes the President's decisions on reinstating duties final and not subject to review in any court.
Permits the President to establish schedules for filing petitions and for other actions under this Act.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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