EXERCISE OF WTO AUTHORIZATION TO SUSPEND CONCESSIONS OR OTHER OBLIGATIONS UNDER TRADE AGREEMENTS.

SEC. 602. EXERCISE OF WTO AUTHORIZATION TO SUSPEND CONCESSIONS OR OTHER OBLIGATIONS UNDER TRADE AGREEMENTS. (a) In general.—Section 306 of the Trade Act of 1974 (19 U.S.C. 2416) is amended— (1) by redesignating subsection (c) as subsection (d); and (2) by inserting after subsection (b) the following: “(c) Exercise of WTO Authorization to Suspend Concessions or Other Obligations.—If— “(1) action has terminated pursuant to section 307(c), “(2) the petitioner or any representative of the domestic industry that would benefit from reinstatement of action has submitted to the Trade Representative a written request for reinstatement of action, and “(3) the Trade Representatives has completed the requirements of subsection (d) and section 307(c)(3), the Trade Representative may at any time determine to take action under section 301(c) to exercise an authorization to suspend concessions or other obligations under Article 22 of the Understanding on Rules and Procedures Governing the Settlement of Disputes (referred to in section 101(d)(16) of the Uruguay Round Agreements Act (19 U.S.C. 3511(d)(16))).” . (b) Conforming amendments.—Chapter 1 of title III of the Trade Act of 1974 (19 U.S.C. 2411 et seq.) is amended— (1) in section 301(c)(1) (19 U.S.C. 2411(c)(1)), in the matter preceding subparagraph (A), by inserting “or section 306(c)” after “subsection (a) or (b)”; (2) in section 306(b) (19 U.S.C. 2416(b)), in the subsection heading, by striking “Further Action” and inserting “Action on the Basis of Monitoring”; (3) in section 306(d) (19 U.S.C. 2416(d)), as redesignated by subsection (a)(1), by inserting “or (c)” after “subsection (b)”; and (4) in section 307(c)(3) (19 U.S.C. 2417(c)(3)), by inserting “or if a request is submitted to the Trade Representative under section 306(c)(2) to reinstate action,” after “under section 301,”.