International Unfair Trade Laws Procedural Reform Act

International Unfair Trade Laws Procedural Reform Act - Title I: Antidumping Act Amendments - Amends the Antidumping Act, 1921, to require the Secretary of the Treasury to conduct a preliminary investigation upon being informed that a particular class of merchandise is being, or is likely to be sold at less than its fair value (dumping).

Requires that possible margins of dumping be published in the Federal Register along with notice of the investigation. Prescribes procedures for reporting information on dumping injuries to the Secretary and the United States International Trade Commission. Requires the Commission to conclude whether injury exists.

Makes mandatory the Secretary's currently discretionary authority to suspend liquidation retroactively to cover merchandise entering after the publication of the notice of initiation of a full-scale investigation.

Reduces the time limits allowed for agency investigations.

Adds, to those circumstances under current law following which a hearing will be available, the notice of tentative discontinuance of an antidumping investigation or notice of a tentative modification or revocation of a dumping finding.

Authorizes the Secretary to calculate the foreign market value for purposes of assessing antidumping duties through the use of weighted averages on a manufacturer-by- manufacturer basis over a period of no longer than six months.

Requires payment of estimated dumping duties upon entry following a finding of dumping.

Provides for review no less than once a year of the amount of estimated duty, with adjustments based on the most recent data available. Provides for return of excess duties. Changes the bonding requirements to require additional information.

Requires the liquidation of merchandise subject to a dumping finding within 15 months of entry into the country, or within 18 months if the Secretary concludes that it cannot reasonably be performed within 15 months.

Requires information developed in connection with the assessment and liquidation of antidumping duties to be made available in accordance with the provisions of the Freedom of Information Act.

Title II: 1930 Tariff Act Amendments - Amends the Tariff Act of 1930 with respect to countervailing duties to require initiation of investigations as to whether a bounty or grant is being paid or bestowed and to shorten the time limit for making determinations. Changes the requirements for suspension of liquidation as to merchandise.

Revises procedures governing the Secretary's actions following the issuance of an order directing the assessment and collection of countervailing duties.

Imposes civil penalties for violations of cease and desist orders of the Commission. Specifies standards for review of actions contesting determinations by the Secretary or the Commission in countervailing duty and antidumping cases. Enumerates the decisions which may be challenged in the United States Customs Court.

Title III: Study of Transferring Treasury Investigative Responsibilities to International Trade Commission - Directs the General Accounting Office to undertake a one-year study of the need for and feasibility of a transfer of the duties of the Treasury Department under the Antidumping Act, 1921, and the countervailing duty statutes of the Tariff Act of 1930, to the International Trade Commission, or to an independent section of a department of international trade.

Title IV: Amendments to the Revenue Act of September 8, 1916 - Amends existing law to redescribe behavior which constitutes dumping to make it unlawful to manufacture in a foreign country and sell in the United States (whether through a related or unrelated importer) merchandise for which the purchase or exporter's sales price is less than the foreign market value, where the effect of such sale has been to substantially lessen competition, restrain trade, or monopolize commerce within the United States.