Trade Enhancement Act

Trade Enhancement Act - Title I: National Trade Policy - Declares that it is U.S. policy to: (1) eliminate or offset foreign unfair trade practices and other trade-distorting measures through enforcement of U.S. laws and rights under the international trading system; (2) strengthen international trading rules and U.S. laws relating to such rules through trade agreements that promote open and fair world trade; (3) aid potentially competitive U.S. industries faced with injury from imports; (4) examine the underlying reasons for exchange rate misalignment and currency market instability and investigate alternative methods of structuring currency values; (5) increase the participation of developing countries in the world trading system; (6) revise U.S. laws related to unfair trade practices to eliminate trade-distorting practices of nonmarket economy countries; (7) protect intellectual property rights of U.S. persons to ensure the competitiveness, technological innovation, and growth of U.S. industry and agriculture; (8) facilitate U.S. exports; and (9) respond immediately to import problems in which national security may be involved.

Title II: Trade Barriers and Distortions of Trade - Amends the Trade Act of 1974 to direct the U.S. Trade Representative (USTR) to prepare for the annual report on national trade estimates an estimate of the increase in U.S. exports that would result from the elimination of each act, policy, or practice identified as a significant barrier to, or distortion of, U.S. exports and foreign investment by U.S. persons. Directs the USTR, in preparing the national trade estimate, to consider the international competitiveness of the appropriate goods or services.

Directs the USTR to begin investigations on an annual basis with respect to those acts, policies, and practices identified in each report on national trade estimates which: (1) are likely to be acts, policies, or practices that constitute unfair foreign trade practices; and (2) constitute a barrier to, or distortion of, a significant portion of all the U.S. goods and services that the USTR estimates would have been exported if such acts, policies, and practices did not exist. Sets forth factors to be considered in determining whether acts, policies, or practices should be investigated.

Transfers from the President to the USTR the authority to: (1) determine whether U.S. action is appropriate to enforce U.S. rights under a trade agreement or to respond to certain foreign trade practices; (2) determine the appropriate additional import relief in such cases; and (3) determine any additional restrictions on service sector access authorizations. Transfers from the President to the USTR the authority to take action on the USTR's own motion.

Includes among the foreign trade practices that may trigger a U.S. response any act, policy, or practice that threatens to burden or restrict U.S. commerce. Sets forth a list of foreign acts, policies, and practices which burden U.S. commerce.

Authorizes the USTR, in response to certain foreign trade practices, to: (1) enter into binding agreements that fully offset the burden on U.S. commerce of such practices; or (2) withdraw, or refrain from proclaiming, eligibility of a foreign country for preferential treatment under the Generalized System of Preferences.

Includes within the meaning of unreasonable foreign trade acts, policies, or practices any combination of unfair foreign trade acts, policies, or practices and any such acts, practices, or procedures that deny: (1) market opportunities (including protection of an industry in its formative stages); (2) opportunities for the establishment of an enterprise; (3) protection of intellectual property rights; or (4) protection against anti-competitive practices.

Includes within the definition of "service sector access authorization" any authorization that gives access to the U.S. market to a foreign supplier of goods related to a service.

Directs the USTR to determine, within 90 days of the start of such an investigation, whether: (1) the United States is being denied its rights under any trade agreement; or (2) there is any unfair trade act, policy, or practice. Sets forth the actions to be taken by the USTR based on such determination. Requires an import relief action to terminate after seven years if it has existed continuously for seven years and no request to extend the action is made during the last 60 days of such seven year period. Requires the USTR to review the effectiveness of such an import action if a request to extend the import relief is made.

Authorizes the President, if such import relief involves raising tariffs or imposing import restrictions, to negotiate a trade agreement providing compensation, or to proclaim tariff changes to provide compensation for certain countries in order to meet U.S. international obligations.

Title III: Relief from Injury Caused by Import Competition - Amends the Trade Act of 1974 to allow one of the purposes of an import relief petition to be the desire to enhance competitiveness.

Includes among the economic factors to be considered in determining whether increased imports constitute a serious injury to a domestic industry the inability of a significant number of firms to operate domestic production facilities at a reasonable profit.

Adds to the factors to be considered in import relief investigations relating to whether increased imports are a threat of serious injury to a domestic industry: (1) any combination of coordinated government actions that are bestowed on a specified enterprise the effect of which is to increase the competitiveness of that enterprise and that cause or threaten to cause serious injury to the domestic industry concerned; (2) the existence of an affirmative antidumping or countervailing duty determination; (3) the extent to which firms in the domestic industry concerned are unable to maintain existing levels of research and development expenses; and (4) the extent to which the U.S. market is the focal point for diversion of exports because of a foreign country's market restraints.

Requires the International Trade Commission (ITC) in determining what domestic industry is affected by imports to treat as part of the domestic industry only the domestic production of a domestic producer who also imports.

Prohibits considering imports of like or directly competitive articles by domestic producers as a factor indicating the absence of serious injury or threat of serious injury to a domestic industry.

Requires the ITC, in an import relief investigation, to consider factors other than imports which may cause injury or threaten injury to a domestic industry and to report on such factors to the President.

Permits the ITC to recommend both increases in import restrictions and adjustment assistance if the ITC finds that increased imports are causing a serious injury or threat of serious injury to a domestic industry. Requires the ITC to prepare for the President an estimate of the short-term and long-term effects of such increases in import duties or import restrictions on private and industrial consumers.

Directs the President to impose provisional import relief if critical circumstances exist (circumstances caused by a significant increase in imports over a short period of time in which a delay in the imposition of relief would cause damage to the domestic industry that would be difficult to remedy under the usual import relief measures).

Authorizes filing a petition with the Secretary of Agriculture for emergency import relief in addition to any petition filed with the ITC if the petition relates to imports of perishable products. Requires the Secretary to make a recommendation to the President within 14 days of receiving such petition on whether or not to take emergency action. Requires the Secretary to recommend emergency relief if the Secretary finds that emergency action is warranted and that increased imports of a perishable product are a substantial cause of serious injury or threat of serious injury to the competing domestic industry. Requires the President to decide, within seven days of receiving such recommendation, what, if any, import restrictions to impose on such imports. Provides for the termination of such emergency relief.

Requires the ITC to evaluate the effectiveness of import relief actions and to report on such evaluation to the President and the Congress.

Requires the USTR to establish a plan development group for an industry after the ITC begins an import relief investigation based upon a petition filed by firms, a union, or a group of workers that represent a significant portion of the domestic industry if the petitioners request the establishment of such a plan development group. Requires each such group (made up of government and private sector representatives) to prepare an assessment of current problems in the industry and a strategy to enhance its competitiveness. Sets forth information to be included in such assessment and strategy. Requires the assessment and strategy to be submitted, along with the opinions of the members of the plan development group on the viability of such strategy, to the petitioner within 120 days of the start of an ITC import relief investigation. Authorizes the petitioner, if the ITC finds that imports have caused serious injury to the domestic industry, to submit the assessment and strategy to the ITC on the day after the ITC makes such finding. Requires the USTR to present to the ITC some of the opinions of Federal agencies on the viability of such strategy. Requires the ITC, upon submission of such assessment and strategy to the petitioner and before the ITC evaluates what effect such a strategy will have on the domestic industry to try to obtain confidential commitments from the individual members of the domestic industry on their future actions. Requires the ITC to transmit such commitments to certain members of the Government to enable them to evaluate the assessment and strategy. Requires the President under certain circumstances to consider such confidential commitments, assessment and strategy, and recommendations of the interagency trade organization. Sets forth the actions the ITC must take if the ITC finds that increased imports are a substantial cause of or constitute a threat of serious injury to a domestic industry and if an adjustment assessment and strategy have been submitted.

Directs the President, in determining whether to provide import relief, to take into account the probable effectiveness of import relief as a means of promoting adjustment or modernization in order to improve competitive abilities.

Directs the President, if the President has received an assessment and strategy in connection with an injured or threatened industry, to: (1) provide the import relief found necessary by the ITC; (2) provide substantially equivalent import relief; or (3) submit to the Congress a draft of a bill making certain waivers and containing provisions implementing the import relief, if any, that the President has decided to take. Provides for expedited congressional consideration of such a bill. Requires the President to implement the import relief found necessary by the ITC if after 90 days such bill is not enacted.

Provides for publication of the assessment and strategy if import relief is provided. Requires a review committee to: (1) monitor actions taken by petitioners to improve the competitive position of the industry; (2) make recommendations for administrative actions to achieve the objectives of the assessment and strategy; and (3) submit to the Congress legislative recommendations. Provides for expedited consideration of legislative recommendations.

Requires the review committee to consult with members of the plan development group and with members of the domestic industry if the objectives and actions specified in the assessment and strategy are not being implemented or if the confidential commitments are not being kept. Authorizes the President to terminate or modify the import relief if, after the consultations, the review committee determines that such failure to implement the strategy or commitments is not justified by changed circumstances and has adversely affected overall implementation of the objectives set forth in the assessment and strategy.

Directs the President, before deciding whether to grant import relief, to consult with the interagency trade organization established pursuant to the Trade Expansion Act of 1962 and consider the recommendations of such organization.

Includes among the import relief actions available to the President the right to: (1) initiate on an accelerated basis an antidumping or countervailing duty investigation; (2) direct the Attorney General to review applications from the injured industry for antitrust law exemptions; or (3) enter into multilateral negotiations to address problems not susceptible to unilateral solution.

Permits an import relief investigation into imports of an article that received import relief less than two years before the start of the new investigation if good cause is shown.

Sets forth the procedure for an antidumping or countervailing duty investigation which the President orders as a form of import relief.

Sets forth the factors to be used to determine whether to grant an antitrust law exemption if the President as a form of import relief orders the Attorney General to consider applications for such exemptions. Requires the Attorney General to report to specified congressional committees if any such exemption is granted.

Directs the President to impose import restrictions or increase import duties if multilateral negotiations ordered by the President as a form of import relief fail to provide relief from serious injury or the threat of serious injury within one year. Provides for expedited consideration of legislation implementing such import restrictions or import duty increases.

Requires the ITC to review an injury determination and its recommendations relating to the determination if: (1) the ITC has made a unanimous affirmative injury determination; (2) the President declined between January 1, 1984, and October 1, 1985, to prevent or remedy the injury or threat of injury found by the ITC; and (3) a petition for review is filed within one year of enactment of this Act. Requires the ITC, within 60 days of receiving such petition, to: (1) determine whether the injury should be reaffirmed or revoked; and (2) if the injury determination is reaffirmed, report such determination to the President and set forth the increase in import duty or the import restriction necessary to prevent the injury or threat of injury. Requires the ITC to publish such report. Requires the President to decide whether to impose such import relief within 30 days of receiving such report.

Title IV: Negotiating Authority for Trade Agreements - Amends the Trade Act of 1974 to urge the President to take all appropriate and feasible steps to reduce or eliminate tariff and nontariff barriers to international trade and other distortions of international trade through: (1) the full exercise of U.S. rights under international agreements; and (2) the negotiation of trade agreements.

Authorizes the President to enter into trade agreements during the five years following January 3, 1988, to reduce or eliminate trade barriers and distortions if the President finds that: (1) such barriers or distortions unduly restrict U.S. foreign trade or adversely affect the U.S. economy or are likely to result in such a restriction or effect; (2) the purposes of the Trade Act of 1974 will be promoted by the reduction or elimination of such barriers or distortions.

Authorizes entering into a trade agreement only if the President, at least 150 days before such agreement is entered into: (1) notifies specified congressional committees of the negotiations of such agreement; (2) consults with each such committee regarding the negotiation; and (3) submits to each such committee a written statement of the specific negotiating objectives that the President anticipates will be achieved by such agreement and its implementing bill, a description of how such objectives will be achieved, and the specific negotiating objectives the President anticipates will not be achieved and the reasons for such failure. Provides that an implementing bill will not receive expedited congressional consideration if such conditions are not met or if a specified congressional committee disapproved the negotiation within 60 days of receiving notice of it. Requires the USTR to consult with interested congressional committees at least once a year on such negotiations, their progress, and obstacles to the achievement of their objectives.

Requires the President to consult with specified congressional committees before entering into any trade agreement. Requires the President, whenever entering into a trade agreement, to submit such agreement, together with a draft implementing bill and statement of proposed implementing administrative action to the Congress.

Provides that a trade agreement submitted to the Congress shall enter into force with respect to the United States if and only if: (1) the President, at least 90 days before entering into such trade agreement, notified the Congress of intent to enter into it and published notice of such intent; and (2) after entering into the agreement, the President sends the final legal text of the agreement to the Congress along with certain other information. Sets forth certain recommendations the President may make to the Congress to insure that foreign countries which benefit under a trade agreement are subject to obligations under the agreement.

Directs the President, upon starting negotiations on a trade agreement to limit trade barriers, to try to obtain an interim agreement under which any country participating in such negotiations shall: (1) decline to impose new trade barriers or trade-distorting devices; and (2) reduce market intervention to allow market forces to govern growth of industries characterized by overcapacity or overproduction.

Requires that the U.S. objectives in negotiating trade agreements under the basic authority to negotiate shall be to obtain: (1) more open, fair, and equitable market access; (2) the reduction or elimination of barriers and other trade-distorting practices; and (3) an appropriate overall balance between benefits and concessions within the agricultural, manufacturing, mining, and services sectors.

Requires that the principle objectives in negotiating agreements to reduce trade barriers shall be: (1) to obtain with respect to manufacturing, mining, agriculture, and services and with respect to related investments, equivalent competitive opportunities for U.S. exports; and (2) to bring previously made agreements into conformity with principles promoting an open nondiscriminatory, and fair world economic system.

Authorizes the President for the five years following January 3, 1988, to: (1) proclaim an increase in an import duty or an imposition of an additional import duty in lieu of any limit on imports of an article; or (2) use import licenses in administering any of such limitations and sell such licenses at public auctions.

Title V: Exchange Rates and Developing Country Debt - Subtitle A: Measures Relating to Exchange Rates - Declares that it is U.S. policy that the United States and the Western industrialized allies should coordinate: (1) monetary and fiscal policies in order to eliminate imbalances in trade and capital flows and to stabilize exchange rates; and (2) the participation by central banks in international currency markets in order to reduce severe currency fluctuations, deter currency speculation, aid in the stabilization of the dollar in international currency markets, and promote orderly exchange rate adjustments.

Directs the President, within six months of enactment of this Act, to enter into negotiations with: (1) other G-5 countries (West Germany, Japan, the United Kingdom, and France) to improve the international monetary system; (2) the other G-5 countries to enhance their role in coordinating fiscal and monetary policy to ensure that their policies converge on money growth, inflation, fiscal policy, interest rates, and other economic factors; and (3) other countries to achieve reciprocal opportunities for investment.

Directs the Secretary of the Treasury and the Federal Reserve Board to accumulate foreign currencies in amounts sufficient to make participation in foreign exchange markets effective and credible.

Requires the President to report to the Congress every six months on implementation of this subtitle.

Subtitle B: Measures Relating to Developing Country Debtors - Requires the negotiating objectives of the United States with developing country debtors to be to: (1) reduce barriers to U.S. exports; (2) reduce barriers to foreign investment; (3) lessen the burden on U.S. exports and international trade caused by destabilizing debt service and trade and investment barriers maintained by developing countries; (4) lessen the destablizing impact of difficulties in international debt service; (5) encourage developing countries to eliminate structural barriers that limit their efficiency and productivity; and (6) permit the resumption of economic growth of developing countries.

Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank to establish for FY 1986 through 1989 the Trade Expansion Loan Guarantee and Insurance program. Requires the program to be available to the Export-Import Bank for the establishment of general facilities consisting of guarantees and insurance in support of U.S. exports to specific developing countries if certain conditions are met.

Authorizes the President to enter into negotiations with members of the Organization for Economic Cooperation and Development to eliminate official financing or support for new mining or production facilities for commodities in developing countries and to encourage the reduction of commodities from such facilities if the commodity is in oversupply internationally.

Authorizes the President to enter into negotiations with members of each multilateral development bank to prohibit aid by each such bank for any new mining or production facility for a commodity that is in oversupply internationally.

Authorizes the President to enter into negotiations with the members of the International Monetary Fund (IMF) to terminate the Compensatory Financing Facility and transfer the resources and assets of the Facility to the general resources of the IMF.

Authorizes the President to enter into negotiations with members of the International Bank for Reconstruction and Development for: (1) an agreement to permit increases in loans and guarantees by the Bank up to 200 percent of the Bank's unimpaired subscribed capital, reserves, and surplus; (2) an agreement that new lending by the Bank would be at interest rates based upon an index reflecting economic conditions in the country getting the loan; and (3) an agreement that new loans made by the Bank should be conditioned on the removal of existing trade and investment barriers and on the promotion of development of the private sector.

Requires the President to report annually to the Congress on implementation of this subtitle.

Title VI: Withdrawal of Benefits under Generalized System of Preferences - Directs the President to submit to the Congress, within 90 days of enactment of this Act, a draft of a bill to withdraw, within two years of enactment of this Act, trade preferences under title V of the Trade Act of 1974 from a foreign country if, on the basis of such country's per capita income and other indications of economic development and international competitiveness, the continued provision of such preferences can no longer be justified as promoting economic growth and development in the developing world. Provides for special congressional procedures with respect to such bill. Prohibits such bill from applying to any country which has entered into an agreement with the United States establishing a free trade zone between the United States and such country.

Title VII: Nonmarket Economy Countries - Amends the Tariff Act of 1930 to change the method of dealing with dumping from nonmarket economy countries. Requires the foreign market value of merchandise to be the trade-weighted average price at which the merchandise or similar merchandise produced by eligible market economy producers is sold in the United States if: (1) the merchandise under investigation is exported from a nonmarket economy country; and (2) the administering authority finds that the foreign market value of the merchandise cannot be accurately determined under the usual method because information provided by the country is not verifiable or is insufficient. Requires the foreign market value, if a trade-weighted average price is not available, to be the price at which the merchandise or similar merchandise produced by an eligible market economy producers is sold in the United States. Requires the foreign market value, if there are no eligible market economy producers, to be the constructed value of the merchandise or similar merchandise produced in any country other than a nonmarket economy country. Defines nonmarket economy country generally to be a country which appears on a list prepared annually by the administering authority that designates countries whose economies do not operate on market principles of cost or pricing structures. Defines an eligible market economy producer to be a foreign producer who: (1) produces merchandise that is the subject of dumping investigation or any similar merchandise in a country that is not a nonmarket economy country; (2) exports the merchandise or similar merchandise to the United States; and (3) is not subject to an antidumping or countervailing duty order against the merchandise or similar merchandise.

Title VIII: Intellectual Property Rights - Amends the Tariff Act of 1930 to declare that the unauthorized importation (or sale) of articles into the United States that infringe a valid U.S. patent, copyright, trademark, U.S. maskwork, or trade secret is unfair and has the effect of destroying or substantially injuring a U.S. industry or impairing the establishment of such industry. Permits any person to petition the ITC for the issuance of an order to exclude such articles, during its investigation, from entry into the United States. Sets forth: (1) civil penalties for violations under this Act; and (2) procedures for the modification or recission of an ITC order under this Act.

Repeals a specified section of the Tariff Act of 1930 relating to the importation of products produced under a process covered by claims of unexpired patent.

Process Patent Amendment of 1985 - Amends the patent laws to make it an infringement of patent to use, sell, or import into the United States without authority a product produced by a patented process.

Directs the Department of Commerce to report to the Congress annually for five years on the effect such restriction has on the importation of ingredients for U.S. manufacturing.

Agricultural Patent Reform Act of 1985 - Amends the patent laws to extend the terms of patents which encompass specified products or methods for using a product, including methods of manufacturing which primarily use recombinant DNA technology, any of which are subject to certain nonpatent regulatory review periods. Sets forth the terms and conditions of such extension, including a five-year limitation on the extension and a 25-year maximum patent term for the earliest filing.

Directs the Commissioner of Patents to notify the appropriate Federal agency upon receipt from the product sponsor of a notice of extension to determine the applicable regulatory review period and whether, within that period, the sponsor acted with due diligence. Provides for notice and informal hearings for persons interested in such determinations. Permits the setting of fees to cover the costs of review.

Directs the Commissioner, upon a final determination of the applicable regulatory review period, to issue to the owner of record of a patent a certificate of extension stating the fact and length of the extension and identifying the product and the use and the claim to which such extension is applicable. Makes such certificate a part of the original patent.

Limits the application of such patent term extension to patents for: (1) any new animal drug or antibiotic subject to regulation under the Federal Food, Drug, and Cosmetic Act; (2) any veterinary biological product subject to regulation under the Virus-Serum-Toxin Act; (3) any pesticide subject to regulation under the Federal Insecticide, Fungicide, and Rodenticide Act; and (4) any chemical substance or mixture subject to regulation under the Toxic Substances Control Act.

Title IX: Export Related Measures - Subtitle A: Fair Export Financing - Fair Export Financing Act of 1985 - Amends the Trade and Development Enhancement Act of 1983 to declare that one of the purposes of such Act is to establish a temporary tied aid credit program to combat the predatory concessional credit programs of foreign governments.

Directs the President to negotiate limits on partially untied aid credit. Changes the U.S. negotiating objectives to include references to partially untied aid credits.

Directs the Secretary of the Treasury to establish within the Department of the Treasury a program of tied aid credits for U.S. exports. Requires the program to be carried out in cooperation with the Export-Import Bank or with private financial institutions or entities. (Currently the program is established within the Export-Import Bank and carried out in cooperation with the Agency for International Development (AID)). Sets forth financing methods that may be included in such program. Authorizes appropriations.

Repeals the provision that established a tied aid credit program in AID.

Requires the Secretary to seek the advice of the National Advisory Council on International Monetary and Financial Policies before approving financing under the tied aid credit program. Terminates the tied aid credit program on September 30, 1987.

Limits judicial review of actions by the Chairman of the Export-Import Bank and by the Secretary.

Changes the definition of "tied aid credit." Defines "partially untied aid credit." Deletes references to government-mixed credits and public-private cofinancing.

Subtitle B: Amendments to the Foreign Corrupt Practices Act of 1977 - Practices and Records Act - Changes the name of the Foreign Corrupt Practices Act of 1977 (FCPA) to the Business Practices and Records Act.

Amends the Securities Exchange Act of 1934 to require securities issuers to maintain an internal accounting system that provides reasonable assurance that specified accountability and accuracy goals are met. Prohibits imposing criminal liability for failing to maintain such an accounting system. Prohibits imposing civil injunctive relief with respect to: (1) an issuer who fails to maintain the required accounting system if the issuer tried in good faith to meet the requirements; or (2) any person other than an issuer in connection with an issuer's failure to comply with such requirements, unless such person knowingly caused the issuer to fail to comply. Prohibits anyone from knowingly circumventing such an accounting system for a purpose inconsistent with the accountability and accuracy goals of such system. Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the equity of domestic or foreign firms.

Transfers from the Securities and Exchange Commission to the Department of Justice jurisdiction to enforce the bribery prohibitions of the FCPA with respect to issuers.

Revises the prohibition against domestic concerns using any means of interstate commerce to further payments to obtain business with a foreign official. States that such a payment made "directly or indirectly" to a foreign official is illegal. Prohibits such payments that are made to: (1) influence a foreign official's act or induce such an official to violate a legal duty; or (2) induce a foreign official to affect a foreign government's act. Prohibits domestic concerns from using interstate commerce to direct or authorize an agent to further such a payment to a foreign official.

Exempts from such prohibitions: (1) payments to foreign officials to expedite or to secure the performance of routine governmental action; (2) payments to such officials that are lawful under the foreign country's laws; (3) payments which constitute tokens of regard or esteem; (4) expenditures associated with selling, purchasing, or demonstrating goods; or (5) ordinary expenditures associated with performing a contract with a foreign government.

Revises the fines and criminal penalties for violations of such Act. Empowers the Attorney General to undertake all civil investigations necessary to enforce the Act.

Prohibits prosecution of a domestic concern or specified agents of such concern for violating the Federal mail or wire fraud provisions by making a payment to a foreign official if the prosecution is based on the theory that the official, by receiving the payment, violated a duty to or defrauded the foreign government or the citizens of a foreign country.

Authorizes the Attorney General to issue guidelines specifying: (1) permissible conduct associated with common types of export sales arrangements; and (2) precautionary procedures which would create a rebuttable presumption of compliance.

Provides for the establishment of a Business Practices and Records Act Review Procedure to answer specific inquiries concerning enforcement of such Act. Requires the Attorney General to issue opinions regarding compliance. Makes such opinions final and binding on all parties if the opinion states that the conduct does not involve a violation. Directs the Attorney General to protect the confidentiality of materials submitted in the review procedure.

Requires annual reports to the Congress by: (1) the Attorney General concerning actions taken pursuant to such Act; and (2) the Chairman of the Securities and Exchange Commission concerning the reporting requirements.

Subtitle C: Miscellaneous Provisions - Directs the Secretaries of State and Commerce to review periodically the number of personnel assigned to U.S. missions abroad to determine whether an adequate number of such personnel are engaged in economic or commercial duties to aid U.S. exporters and businesses doing business outside the United States. Declares that the Secretaries should extend the length of assignment of such personnel in order to ensure greater continuity in promoting U.S. exports.

Requires each chief of a U.S. mission to a country that is an important trading partner and which has significant potential for U.S. export sales to report annually to the President and the Congress on: (1) the strategy used by such mission to expand U.S. exports; and (2) the efforts of such mission to assist U.S. industries in expanding export sales and in improving their market position.

Expresses the sense of the Congress that: (1) each U.S. Executive Director to a multilateral development bank should take specified actions to promote procurement opportunities for U.S. firms; and (2) a Foreign Commercial Officer should be assigned to each such Director to help promote such opportunities.

Requires each Federal agency, before taking any major action that may affect international trade, to prepare and publish a report on the potential impact of such action on U.S. international trade and on the ability of U.S. firms to compete in foreign markets.

Directs the Secretary of Commerce, through the International Trade Administration, to develop and maintain an effective system to collect and disseminate information on international trade to U.S. exporters. Sets forth information to be included in such system.

Title X: National Security - Amends the Trade Expansion Act of 1962 to require the President to implement the recommendations contained in a certain report by the Secretary of Commerce with respect to imports that threaten national security if the President has made no determination and taken no action on such report within 90 days of receiving it.

Requires the President and the Secretary to consider, in determining whether imports threaten national security, the impact on national security of: (1) not only short-term supply disruptions of articles needed for national security but also long-term U.S. dependence on imports of such articles; and (2) the loss of a viable domestic industry producing articles needed for national security.

Requires the President to issue a proclamation on the date of enactment of this Act that implements the recommendation of the Secretary in such report if the President did not by November 20, 1985, make a specified determination with respect to such report that was received before the date that is 90 days before the enactment of this Act.