Fair International Trade Act

Fair International Trade Act - Title I: Amendment to the Antidumping Act of 1921 - Provides that in the case of any imported merchandise of a class or kind as to which the Secretary of the Treasury has not made public a finding, he shall, within four months after the question of dumping was raised by or presented to him or any person to whom authority has been delegated: (1) determine whether there is reason to believe or suspect, from the invoice or other papers or from information presented to him or to any other person to whom authority under this section has been delegated, that the purchase price is less, or that the exporter's sales price is less or likely to be less, than the foreign market value (or, in the absence of value, than the constructed value); and (2) if his determination is affirmative, publish notice of that fact in the Federal Register, and require, under such regulations as he may prescribe, the withholding of appraisement as to such merchandise entered, or withdrawn from warehouse for consumption, on or after the date of publication of that notice in the Federal Register until the further order of the Secretary, or until the Secretary has made public a finding as provided for in regard to such merchandise; or (3) if his determination is negative, publish notice of that fact in the Federal Register. Authorizes the Secretary, within three months thereafter, to order the withholding of appraisement if he then has reason to believe or suspect, from the invoice or other papers or from information presented to him or to any other person to whom authority under this Act has been delegated, that the purchase price is less, or that the exporter's price is less or likely to be less, than the foreign market value (or, in the absence of such value, than the constructed value).

Provides that injury to a domestic industry shall be established and the United States Tariff Commission shall make an affirmative determination, when the Commission finds that the sale of foreign merchandise determined to have been sold at less than its fair value caused more than de minimus or immaterial injury in any line of commerce in any section of the country. (Amends 19 U.S.C. 160)

Provides that if available information indicates to the Secretary that the economy of the country from which merchandise is exported is State controlled to an extent that sales or offers of sales of such a similar merchandise in that country or to countries other than the United States do not permit a determination of foreign market value, the Secretary shall determine the foreign market value of merchandise on the basis of the normal costs, expenses, and profits. (Amends 19 U.S.C. 164)

Provides that any interested party shall be entitled to seek in the United States Court of Customs and Patent appeals judicial review of questions of law relating to any final determination of the Secretary or the Commission under this Act within thirty days after its publication in the Federal Register. (Amends 19 U.S.C. 169)

Title II: Amendments to the Tariff Act of 1930 - Authorizes the President to impose duties or other import restrictions on the products of any foreign country or instrumentality maintaining nontariff trade restrictions, or engaging in discriminatory acts or policies, or providing incentives when he deems such duties and other import restrictions necessary and appropriate to prevent the establishment or obtain the removal of such restrictions, acts, policies, or incentives and to provide access for United States products to foreign markets on an equitable basis.

Provides that no duty shall be imposed under this part with respect to any article which is subject to a quantitative limitation imposed by the United States on its importation, or subject to a quantitative limitation on its exportation to or importation into the United States unless the Secretary determines that such quantitative limitation is not an adequate substitute for the imposition of a duty under this part.

Provides that any interested party shall be entitled to seek in the United States Court of Customs and Patent Appeals judicial review of questions of law relating to any final determination of the Secretary or the Commission under this Act, within thirty days after its publication in the Federal Register. (Amends 19 U.S.C. 1303)

Increases the number of Commissioners on the United States Tariff Commission from six to seven and increases their term of office from six to seven years. (Amends 19 U.S.C. 1330)

Title III: Amendments to the Trade Expansion Act of 1962 - Provides that upon the request of the President, upon resolution of either the Committee on Finance of the Senate or the Committee on Ways and Means of the House of Representatives, upon its own motion, or upon the filing of a petition, the Tariff Commission shall promptly make an investigation to determine whether an article that has been the subject of concessions under trade agreements is being imported into the United States in such increased quantities, either actual or relative, as to contribute substantially toward causing or threatening to cause serious injury to the domestic industry producing articles like or directly competitive with the imported article. (Amends 19 U.S.C. 1901)

Increases to 75 percent the percentage of an average weekly wage a worker shall be entitled to as a trade readjustment allowance. (Amends 19 U.S.C. 1942(a))

Title IV: Amendments to the Revenue Act of 1916 - Provides that an affirmative determination by the Secretary of the Treasury under the Antidumping Act with regard to any article shall constitute prima facie evidence of the sale of such article at less than its actual market value or wholesale price. Increases to $50,000 the maximum fine to be imposed on those who violate or conspire to violate the proscription of law against the importation or sale of articles at less than market value or wholesale price. Provides that this part shall be held and considered to be an antitrust law of the United States, and any law of the United States which is applicable to the enforcement of the antitrust laws shall be applicable to the enforcement of this part. (Amends 15 U.S.C. 72)