A bill to amend the Export-Import Bank Act Amendments of 1978 for purposes of discouraging noncompetitive financing.

Summary

Amends the Export-Import Bank Act Amendments of 1978 to direct the Secretary of the Treasury to notify an American purchaser that the purchaser may be liable for a foreign export credit subsidy assessment if: (1) an American seller has notified the Secretary that the American seller and a foreign seller are both bidding for a sale of goods or services to the American purchaser; (2) the American seller has information that a foreign government may be offering credit to finance the sale by the foreign seller at an interest rate below the government's cost borrowing; and (3) the American purchaser accepts such credit. Requires the Secretary to request the foreign government to withdraw or revise its offer of credit if the Secretary determines that the credit being offered by a foreign government is at an interest rate below that government's current cost of acquiring funds. Requires the Secretary to notify the American purchaser of the current cost to a foreign government of acquiring funds but only if the Secretary has received satisfactory information on the terms of the credit. Requires the American purchaser, if the purchaser buys goods or services which benefited from such a foreign government's credit, to provide the Secretary with all relevant documents relating to the terms and conditions of the credit. Requires the Secretary to use such documents to determine the amount of the subsidy received by the American purchaser as a result of accepting the credit. Requires the Secretary to notify the International Trade Commission (ITC) if a subsidy has been provided. Requires the ITC to determine whether an American seller has been injured by the subsidy. Requires the American purchaser to pay a foreign export credit subsidy assessment equal to the amount of the subsidy to the Export-Import Bank if the ITC determines that an American seller has been injured.

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Documents

1 official file

• Introduced in House

  summary · EN · 13 April 1983

  Open at official source

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