To amend the Tariff Act of 1930 to make technical improvements to the U.S. antidumping and countervailing duty laws; to express the sense of Congress regarding the scope and standard of review of GATT dispute settlement panels; to express the sense of Congress for the extension of the specialty steel voluntary restraint agreement; and for other purposes.

Summary

Amends the Tariff Act of 1930 to define "potential decline" and "potential negative effects" for purposes of material injury determinations made by the International Trade Commission (ITC) in antidumping and countervailing duty investigations. Amends the Trade Act of 1988 to require the administering authority to review specified reports on downstream products and make an adjustment to the foreign market value, where components (that constitute no less than one percent of the value of such downstream product) are subject to an antidumping order and the component supplier has been found to be selling below cost of production, in order to reflect the differences between price paid (if below cost) and constructed value. Requires the ITC, in determining whether a U.S. industry is threatened with material injury from imports, to consider, among other factors, the: (1) review of order backlog of such merchandise; and (2) where applicable a monthly or quarterly review of all factors. Requires interest to be assessed on over- or underpayments made with respect to merchandise entered under bond and remaining underliquidated after enactment of this Act. Prohibits any adjustment to the foreign market value of imported merchandise because of any difference in the circumstances of its sale. Directs the administering authority to publish annually in the Federal Register a summary of anti-dumping and countervailing duties assessed, including information on total customs value, total dumping, or countervailing duties assessed for the entries liquidated. Expresses the sense of the Congress urging specified limitations on the scope of and standard of review of dispute settlement panels under the General Agreement on Tariffs and Trade. Expresses the sense of the Congress that the President should extend the specialty steel voluntary restraint agreement program for three more years. Amends the Steel Import Stabilization Act to extend it through March 31, 1995, unless the President submits a specified affirmative determination to specified congressional committees.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 6 May 1992

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