108 STAT. 4936 PUBLIC LAW 103-465—DEC. 8, 1994 (3) PHASING-DOWN OF ACTIONS.— Section 203(e)(5) of the Trade Act of 1974 (19 U.S.C. 2253(e)(5)) is amended to read as follows: "(5) An action described in subsection (a)(3)(A), (B), or (C) that has an effective period of more than 1 year shall be phsised down at regular intervals during the period in which the action is in effect. (4) LIMITATIONS ON NEW ACTIONS AND INVESTIGATIONS OF SAME ARTICLE.—(A) Section 203(e) of the Trade Act of 1974 (19 U.S.C. 2253(e)) is amended by adding at the end the following: "(7)(A) If an article was the subject of an action under subparagraph (A), (B), (C), or (E) of subsection (a)(3), no new action may be taken under any of those subparagraphs with respect to such article for—
- (i) a period beginning on the date on which the previous action terminates that is equal to the period in which
the previous action was in effect, or "(ii) a period of 2 yeara beginning on the date on which the previous action terminates, whichever is greater. "(B) Notwithstanding subparagraph (A), if the previous action under subparagraph (A), (B), (C), or (E) of subsection (a)(3) with respect to an article was in effect for a period of 180 days or less, the President may take a new action under any of those subparagraphs with respect to such article if—
- (i) at least 1 year has elapsed since the previous
action went into effect; and "(ii) an action described in any of those subparagraphs has not been taken with respect to such article more than twice in the 5-year period immediately preceding the date on which the new action with respect to such article first beconQ.es effective.". (B) Section 202(h)(2) of the Trade Act of 1974 (19 U.S.C. 2252(h)(2)) is amended to read as follows: "(2) No new investigation shall be conducted with respect to an sirticle that is or has been the subject of an action under section 203(a)(3)(A), (B), (C), or (E) if the last day on which the President could take action under section 203 in the new investigation is a date earlier than that permitted under section 203(e)(7).. (c) REPORTS ON MONITORING.— Section 204(a) of the Trade Act 19 USC 2254. of 1974 (19 U.S.C. 2354(a)) is amended— (1) by amending paragraph (2) to read as follows: "(2) If the initial period during which the action taken xmder section 203 is in effect exceeds 3 years, or if an extension of such action exceeds 3 years, the Commission shall submit a report on the results of the monitoring under paragraph (1) to the President and to the Congress not later than the date that is the mid-point of the initial period, and of each such extension, during which the action is in effect"; and (2) in paragraph (4) by striking "extension,". (d) INVESTIGATION OF EXTENSION OF ACTION.—Section 204 of the Trade Act of 1974 (19 U.S.C. 2254) is amended— (1) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively; and
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