duties of the council

duties of the council Sec. 206. Subject to the direction of the President, and in addition to performing such other functions as he may direct, the Council shall— (1) Assist and advise the President, in the preparation of the International Economic Report required under section 207. (2) Review the activities and the policies of the United States Government which indirectly or directly relate to international economics and, for the purpose of making recommendations to the President in connection therewith, consider with some degree of specificity the substance and scope of the international economic policy of the United States, which consideration shall include examination of the economic activities of (A) the various agencies, departments, and instrumentalities of the Federal Government, (B) the several States, and (C) private industry. (3) Collect, analyze, and evaluate authoritative information, current and prospective, concerning international economic matters. Such evaluations shall include but not be limited to the impact of international trade on the level, stability, and financial rewards for domestic labor and the impact of the transnational corporation on international trade flows. (4) Consider policies and programs for coordinating the activities of all the departments and agencies of the United States with one another for the purpose of accomplishing a more con-86 Stat. 648sistent international economic policy, and make recommendations to the President in connection therewith. (5) Continually assess the progress and effectiveness of Federal efforts to carry out a consistent international economic policy. (6) Make recommendations to the President for domestic and foreign programs which will promote a more consistent international economic policy on the part of the United States and private industry. Recommendations under this paragraph shall include, but shall not be limited to, policy proposals relating to monetary mechanisms, foreign investment, trade, the balance of payments, foreign aid, taxes, international tourism and aviation, and international treaties and agreements relating to all such matters. In addition to other appropriate objectives, such policy proposals should be developed with a view toward— (A) strengthening the United States competitive position in world trade; (B) achieving equilibrium in international payment accounts of the United States; (C) increasing exports of goods and services; (D) protecting and improving the earnings of foreign investments consonant with the concepts of tax equity and the need for domestic investment; (E) achieving freedom of movement of people, goods, capital, information, and technology on a reciprocal and worldwide basis; (F) increasing the real employment and income of workers and consumers on the basis of international economic activity; and (G) preserving the diversified industrial base of the United States,