Adjustment Assistance Act

Adjustment Assistance Act- Title I: United States Foreign Trade and Investment Commission - Provides that the United States Foreign Trade and Investment Commission shall be composed of five commissioners to be appointed by the President by and with the advice and consent of the Senate. Sets forth the membership requirements and terms of office of the members of the Commission.

States that whenever, in any case calling for findings of the Commission in connection with any authority conferred upon the President by law to make changes in import restrictions, a majority of the Commissioners voting are unable to agree upon findings or recommendations, the findings and recommendations of any one of the commissioners may be considered by the President as the findings and recommendations of the Commission.

Title II: Amendments to the Trade Expansion Act of 1962 - Adjustment Assistance - Sets forth the following changes in the Trade Expansion Act: (1) the new Foreign Trade and Investment Commission, rather than the Tariff Commission, would receive complaints and conduct investigations; (2) the increased imports complained of need not be the result of trade agreement concessions; (3) the statute could be invoked if imports are only relatively increasing; (4) the increased imports need only "contribute substantially" to causing or threatening to cause serious injury; (5) the Commission is to consider loss of fringe benefits and stagnant wages as an element of serious injury to an industry; (6) gives the Commissioner the authority to impose import restrictions; (7) commission proceedings are made subject to the Administrative Procedure Act, and to judicial review; and (8) limits Presidential action after Foreign Trade and Investment Commission action granting adjustment assistance to workers and firms in the affected industry.