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PUBLIC LAW 92-412-AUG. 29, 1972
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[86 STAT.
C sisteiit international economic policy, and niiikc lecoinniemlations to the President in connection therewith. (5) Continually assess the progress and effectivejiess of Federal efforts to carry out a consistent international economic policy. (6) Make recommendations to the President for domestic and foreign programs which will promote a more consistent international economic policy on the part of the United States and private industry. Recommendations under this paragraph shall include, but shall not be limited to, policy proposals relating to monetary mechanisms, foreign investment, trade, the balance of payments, foreign aid, taxes, international tourism and avia' tion, and international treaties and agreements relating to all • such matters. I n addition to other appropriate objectives, such policy proposals should be developed with a view toward— (A) strengthening the TTnit<»,d States competitive position in world trade; .:,. (B) achieving equilibrium in international payment accounts of the United States; (C) increasing exports of goods and services; (D) protecting and improving the earnings of foreign investments consonant with the concepts of tax equity and the need for domestic investment; (E) achieving freedom of movement of people, goods, capital, information, and technology on a reciprocal and worldwide basis; (F) increasing the real employment and income of workers and consumers on the basis of international economic activity; and f ^ (G) preserving the diversified industrial base of the Ignited ^^ States.
Econ^mfc'R"^ ort ^^^' ^^'^' ^^^ "^^^ President shall transmit to the Congress an annual submittal to ' report on the international economic position of the United States. Congress. Such report (hereinafter referred to as the "International Economic Report") shall be submitted not later than sixty days after the beginning of each regular session of the Congress, and shall include— (1) information and statistics describing characteristics of international economic activity and identifying significant current and foreseeable trends and developments; (2) a review of the international economic program of the Federal Government and a review of domestic and foreign economic conditions and other significant matters affecting the balance of international payments of the United States and of their effect on the international trade, investment, financial, and monetary position of the United States; 1,
(3) a review of the impact of international voluntary standards, the foreign investments of United States based transnational firms, and the level of foreign wage rates on the level, stability, and financial reward for domestic employment; and (4) a program for carrying out the policy objectives of this title, together with such recommendations for legislation as he may deem necessary or desirable. repon^s^^rc'on-^ (^) ^ ^ ^ President may transmit from time to time to the Congress, gress reports supplementary to the International Economic Report, each of which may include such supplementary or revised recommendations as he may deem necessary or desirable to arhieA-e the purposes and policy objectives set forth m this title.
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