REQUIRED CONSULTATIONS.

SEC. 761. [19 U.S.C. 1676] REQUIRED CONSULTATIONS. (a) Agreements in Response to Countervailable Subsidies.—Within 90 days after the administering authority accepts a quantitative restriction agreement under section 704(a)(2) or (c)(3), the President shall enter into consultations with the government that is party to the agreement for purposes of— (1) eliminating the countervailable subsidy completely, or (2) reducing the net countervailable subsidy to a level that eliminates completely the injurious effect of exports to the United States of the merchandise. (b) Modification of Agreements on Basis of Consultations.—At the direction of the President, the administering authority shall modify a quantitative restriction agreement as a result of consultations entered into under subsection (a). (c) Special Rule Regarding Agreements Under Section 704(c)(3).—This chapter shall cease to apply to a quantitative restriction agreement described in section 704(c)(3) at such time as that agreement ceases to have force and effect under section 704(f) or violation is found under section 704(i).