Page:United States Statutes at Large Volume 102 Part 2.djvu/122

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PUBLIC LAW 100-000—MMMM. DD, 1988

102 STAT. 1126 19 USC 2902.

PUBLIC LAW 100-418—AUG. 23, 1988


(1) Whenever the President determines that one or more existing duties or other import restrictions of any foreign country or the United States are unduly burdening and restricting the foreign trade of the United States and that the purposes, policies, and objectives of this title will be promoted thereby, the President— (A) before June 1, 1993, may enter into trade agreements with foreign countries; and (B) may, subject to paragraphs (2) through (5), proclaim— (i) such modification or continuance of any existing duty, (ii) such continuance of existing duty-free or excise treatment, or (iii) such additional duties; as he determines to be required or appropriate to carry out • •^ any such trade agreement. (2) No proclamation may be made under subsection (a) that— (A) reduces any rate of duty (other than a rate of duty that does not exceed 5 percent ad valorem on the date of "df enactment of this Act) to a rate which is less than 50 percent of the rate of such duty that applies on such date of enactment; or (B) increases any rate of duty above the rate that applies on such date of enactment. (3)(A) Except as provided in subparagraph (B), the aggregate reduction in the rate of duty on any article which is in effect on any day pursuant to a trade agreement entered into under paragraph (1) shall not exceed the aggr^ate reduction which would have been in effect on such day if a reduction of 3 percent ad valorem or a reduction of one-tenth of the total reduction, whichever is greater, had taken effect on the effective date of the first reduction proclaimed in paragraph (1) to carry out such agreement with respect to such article. (B) No staging under subparagraph (A) is required with respect to a rate reduction that is proclaimed under paragraph (1) for an article of a kind that is not produced in the United States. The United Stat^ International Trade Commission shall advise the President of the identity of articles that may be exempted from staging under this subparagraph. (4) If the President determines that such action will simplify the computation of reductions under paragraph (3), the President may roimd an annual reduction by the lesser of^ (A) the difference between the reduction without r^ard to this paragraph and the next lower whole number; or (B) one-half of 1 percent ad valorem. (5) No reduction in a rate of duty under a trade agreement entered into under subsection (a) on any article may take effect more than 10 years after the effective date of the first reduction under paragraph (1) that is proclaimed to carry out the trade agreement with respect to such article. (6) A rate of duty reduction or increase that may not be proclaimed by reason of paragraph (2) may take effect only if a provision authorizing such reduction or increase is included