REVOCATION OF STATUS AS A COUNTRY UNDER THE AGREEMENT.

SEC. 1314. REVOCATION OF STATUS AS A COUNTRY UNDER THE AGREEMENT.Section 701 (19 U.S.C. 1671) is amended— (1) by redesignating subsection (c) as subsection (d); and (2) by inserting after subsection (b) the following new subsection: “(c) Revocation of Status as a Country Under the Agreement.— The United States Trade Representative may revoke the status of a foreign country as a country under the Agreement for purposes of this subtitle if such foreign country— “(1) announces that such foreign country does not intend, or is not able, to honor the obligations it has assumed with respect to the United States or the Agreement for purposes of this subtitle, or “(2) does not in fact honor such obligations.”.