A bill to improve the operation of certain trade laws of the United States.

Declares that amendments to this Act refer to amendments to the Tariff Act of 1930. Amends the Tariff Act of 1930 (the Act) to provide that the burden of persuasion with respect to an allegation made in an antidumping or countervailing duty investigation shall be on the party who has information that would verify or negate such allegation.

Directs the International Trade Commission (ITC), in determining material injury or threat of material injury in antidumping or countervailing duty investigations, to consider the cumulative impact of imports of merchandise under investigation when combined with imports of the same class or kind which are subject to similar investigations. Requires the ITC to consider specified factors with respect to its determination of the threat of material injury to a U.S. industry by reason of imports (or sales for importation) of any merchandise. Requires such determination to be made on the basis of real evidence and imminent actual injury.

Provides for an extension of time within which the ITC with respect to an antidumping or countervailing duty investigation must make a preliminary determination as to a material injury if: (1) a petitioner makes a timely request for such extension; and (2) the administering authority concludes that such determination is extraordinarily complicated and additional time is necessary to make such determination. (Currently, such determination could be extended if one or the other above conditions existed.)

Provides that there shall be no compromises of countervailing or antidumping duty cases by the Secretary of the Treasury.

Amends the Trade Agreement Act of 1979 to require the ITC, in cases involving revocation of countervailing duties, not to base a negative determination of potential material injury on any export taxes, duties, or other charges levied on the export of merchandise to the United States specifically intended to offset the subsidy received.

Includes in the term "interested party" an association, a majority of whose members is composed of specified interested parties with respect to a like product.

Permits the administering authority, under certain conditions, to extend the deadline for a final determination in a countervailing duty investigation to the date of its final determination in an antidumping duty investigation if the antidumping duty investigation was initiated simultaneously with the countervailing duty investigation.

Includes in the definition of "subsidy" any export targeting subsidy, upstream subsidy, and domestic subsidy as determined under the provisions of this Act. Defines an "upstream subsidy" as any subsidy, as described in the Act, which: (1) is paid or bestowed by a foreign country upon a product which is used to manufacture merchandise which is already under investigation; (2) results in a price for such product that is lower than its available price in such country; and (3) has a significant effect on the cost of manufacturing or producing such merchandise. Requires, in administering such definition, that an association of two or more foreign countries, political subdivisions, dependent territories, or possessions of foreign countries organized into a customs union outside of the United States shall be treated as one country.

Requires the administering authority to adjust the price of merchandise under investigation that is found to be upstream subsidized by the country that produced it. Requires the administering authority to include such upstream subsidy in any countervailing or antidumping duty that is imposed on such merchandise that has been found to have been bestowed a subsidy.

Requires that a countervailing duty order shall presumptively apply to all merchandise of the class or kind which have been determined to materially injure U.S. industries and which are exported from the country being investigated, except that differing duties may be imposed if the administering authority determines that there is a significant differential between companies receiving subsidy benefits or if a State-owned enterprise is involved.

Requires that the foreign market value of the merchandise under investigation shall be the constructed value of the merchandise if the administering authority determines that the cost to the foreign producer of any foreign material incorporated in the merchandise under investigation is unreasonable. Requires that the cost of such preference or subsidy shall be included in the constructed value of the imported merchandise.

Authorizes the administering authority to accept an agreement to restrict the volume of imports of merchandise into the United States (with either the government of the country where the merchandise which is being investigated is produced or with the exporters of such merchandise who account for substantially all the imports of such merchandise) if the agreement will eliminate completely the injurious effect of such imports.

Permits the posting of a bond or other security in lieu of the deposit of estimated antidumping duties required under the Act if, among other conditions: (1) a case for import relief has not been designated as extraordinarily complicated or the administering authority's final determination with respect to such relief has not been extended; (2) a party submitting information demonstrates that the weighted average of the amount by which the foreign market value of the merchandise exceeds the U.S. price of the merchandise is significantly less than the amount of such excess specified in an antidumping duty order; and (3) the data concerning the foreign market value and the U.S. price apply to sales in the usual wholesale quantities and in the ordinary course of trade and the number of such sales are sufficient to form an adequate basis for comparison. Sets forth procedures concerning confidential information and written comments from interested parties regarding the posting of such bond.

Extends the authority of the Secretary of the Treasury to require the presentation of a valid export license as a condition for the entry of steel products into the United States.

Authorizes the imposition of countervailing duties upon merchandise, provided such merchandise meets all the other requirements for the imposition of countervailing duties, which is: (1) sold (or likely to be sold) for importation into the United States; and (2) by reason of sales (or likelihood of sales) of such merchandise imported into the United States. Requires the ITC to make a final determination of whether a U.S. industry is materially injured by reason of sales (or likelihood of sales) for importion of the merchandise with respect to which the administering authority has made an affirmative determination under the Act. Provides that, for purposes of this Act, a reference to the sale of merchandise includes the entering into of any leasing arrangement regarding the merchanside that is equivalent to the sale of such merchandise.

Provides that the existence of sales for future delivery of irrevocable offers to sell the merchandise that is the subject of a countervailing or antidumping duty petition may be a basis for an affirmative determination by the administering authority.