ACTION BY PRESIDENT AFTER DETERMINATION OF IMPORT INJURY.

SEC. 302. ACTION BY PRESIDENT AFTER DETERMINATION OF IMPORT INJURY. (a) Authority to Enter Into International Agreements.—Section 203 of the Trade Act of 1974 (19 U.S.C. 2253) is amended— (1) in subsection (a)(3)(E) by striking “orderly marketing”; (2) in subsection (d)(1) by striking “orderly marketing agreements” and inserting “agreements described in subsection (a)(3)(E)”; 108 STAT. 4935 (3) in subsection (f)— (A) in the subsection heading by striking “Orderly Marketing and Other” and inserting “Certain”; (B) in paragraph (1)— (i) by striking “orderly marketing agreements” the first place it appears and inserting “agreements of the type described in subsection (a)(3)(E)”; and (ii) by striking “orderly marketing agreements with foreign countries” and inserting “agreements of the type described in subsection (a)(3)(E)”; and (C) in paragraph (2) by striking “orderly marketing agreement implemented under subsection (a)” and inserting “agreement implemented under subsection (a)(3)(E)”; and (4) in subsection (g)(2)— (A) in the first sentence by striking “orderly marketing or other”; and (B) in the second sentence— (i) by striking “orderly marketing agreement” and inserting “agreement of the type described in subsection (a)(3)(E) that is”; and (ii) by striking “agreements” and inserting “agreement”. (b) Limitations on Actions.— (1) Duration of actions.—Section 203(e)(1) of the Trade Act of 1974 (19 U.S.C. 2253(e)) is amended to read as follows: “(1)(A) Subject to subparagraph (B), the duration of the period in which an action taken under this section may be in effect shall not exceed 4 years. Such period shall include the period, if any, in which provisional relief under section 202(a) was in effect “(B)(i) Subject to clause (ii), the President, after receiving an affirmative determination from the Commission under section 204(c) (or, if the Commission is equally divided in its determination, a determination which the President considers to be an affirmative determination of the Commission), may extend the effective period of any action under this section if the President determines that— “(I) the action continues to be necessary to prevent or remedy the serious injury; and “(II) there is evidence that the domestic industry is making a positive adjustment to import competition. “(ii) The effective period of any action under this section, including any extensions thereof, may not, in the aggregate, exceed 8 years.”. (2) Limitation on quantitative restrictions.—Section 203(e)(4) of the Trade Act of 1974 (19 U.S.C. 2253(e)(4)) is amended to read as follows: “(4) Any action taken under this section proclaiming a quantitative restriction shall permit the importation of a quantity or value of the article which is not less than the average quantity or value of such article entered into the United States in the most recent 3 years that are representative of imports of such article and for which data are available, unless the President finds that the importation of a different quantity or value is clearly justified in order to prevent or remedy the serious injury.”. 108 STAT. 4936 (3) Phasing-down of actions.—Section 203(e)(5) of the Trade Act of 1974 (19 U.S.C. 2253(e)(5)) is amended to read as follows: “(5) An action described in subsection (a)(3)(A), (B), or (C) that has an effective period of more than 1 year shall be phased down at regular intervals during the period in which the action is in effect.”. (4) Limitations on new actions and investigations of same article.—(A) Section 203(e) of the Trade Act of 1974 (19 U.S.C. 2253(e)) is amended by adding at the end the following: “(7)(A) If an article was the subject of an action under subparagraph (A). (B), (C), or (E) of subsection (a)(3), no new action may be taken under any of those subparagraphs with respect to such article for— “(i) a period beginning on the date on which the previous action terminates that is equal to the period in which the previous action was in effect or “(ii) a period of 2 years beginning on the date on which the previous action terminates, whichever is greater. “(B) Notwithstanding subparagraph (A), if the previous action under subparagraph (A), (B), (C), or (E) of subsection (a)(3) with respect to an article was in effect for a period of 180 days or less, the President may take a new action under any of those subparagraphs with respect to such article if— “(i) at least 1 year has elapsed since the previous action went into effect; and “(ii) an action described in any of those subparagraphs has not been taken with respect to such article more than twice in the 5-year period immediately preceding the date on which the new action with respect to such article first becomes effective.”. (B) Section 202(h)(2) of the Trade Act of 1974 (19 U.S.C. 2252(h)(2)) is amended to read as follows: “(2) No new investigation shall be conducted with respect to an article that is or has been the subject of an action under section 203(a)(3)(A), (B), (C), or (E) if the last day on which the President could take action under section 203 in the new investigation is a date earlier than that permitted under section 203(e)(7).”. (c) Reports on Monitoring.—Section 204(a) of the Trade Act of 1974 (19 U.S.C. 2354(a)) is amended— (1) by amending paragraph (2) to read as follows: “(2) If the initial period during which the action taken under section 203 is in effect exceeds 3 years, or if an extension of such action exceeds 3 years, the Commission shall submit a report on the results of the monitoring under paragraph (1) to the President and to the Congress not later than the date that is the mid-point of the initial period, and of each such extension, during which the action is in effect”; and (2) in paragraph (4) by striking “extension,”. (d) Investigation of Extension of Action.—Section 204 of the Trade Act of 1974 (19 U.S.C. 2254) is amended— (1) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively; and 108 STAT. 4937 (2) by inserting after subsection (b) the following: “(c) Extension of Action.— “(1) Upon request of the President, or upon petition on behalf of the industry concerned filed with me Commission not earlier than the date which is 9 months, and not later than the date which is 6 months, before the date any action taken under section 203 is to terminate, the Commission shall investigate to determine whether action under section 203 continues to be necessary to prevent or remedy serious injury and whether there is evidence that the industry is making a positive adjustment to import competition. “(2) The Commission snail publish notice of the commencement of any proceeding under this subsection in the Federal Register and shall, within a reasonable time thereafter, hold a public hearing at which the Commission shall afford interested parties and consumers an opportunity to be present, to present evidence, and to respond to the presentations of other parties and consumers, and otherwise to be heard. “(3) The Commission shall transmit to the President a report on its investigation and determination under this subsection not later than 60 days before the action under section 203 is to terminate, unless the President specifies a different date.”.