A bill exempting from bilateral arrangements subject to the Steel Import Stabilization Act steel products imported into the United States for processing into oil country tubular goods and subsequently exported.
Oil Country Tubular Goods Export Protection Act - Amends the Steel Import Stabilization Act to exempt from the import limit imposed by a bilateral arrangement any casing, tubing, drill pipe, or line pipe that is: (1) a product of a foreign country; (2) temporarily imported for processing into oil country tubular goods; and (3) covered by documentation that certifies that the casing, tubing, or pipe is intended for export after the processing is completed. Requires any such merchandise which is not re-exported within six months to be charged against the import limit of the country from which it was imported.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, International Trade Commission, Office of the U.S. Trade Representative, Departments of the Treasury, State, Commerce, and Energy.
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