882
PUBLIC LAW 87-794-OCT. 11, 1962
[76
STAT
temporarily suspended by Act of Congress or otherwise) existing oh July 1, 1962, with respect to-such product." Repeal. (b) Subsections (a)(5) and (e) of section 350 of the Tariff Act of 69 Stat. 164, 165; 1930 are repealed. 72 Stat. 673. (c) For purposes only of entering into trade agreements pursuant to the notices of intention to negotiate published in the Federal Eegis25 F.R. 4764, ter of May 28, 1960, and the Federal Register of November 23, 1960, 11119. the period during which the President is authorized to enter into 48 Stat. 943; foreign trade agreements under section 350 of the Tariff Act of 1930 Ante, p. 881; is hereby extended from the close of June 30, 1962, until the close of Post, p. 883. December 31, 1962. 19 USC 1351. (d) The second and third sentences of section 2(a) of the Act entitled "An Act to amend the Tariff Act of 1930", approved June 12, 1934, as amended (19 U.S.C. sec. 1352(a)), are each amended by 48 Stat. 944. striking out "this Act" and inserting in lieu thereof "this Act or the Trade Expansion Act of 1962". (e)(1) Sections 5,6,7, and 8 (a) of the Trade Agreements Extension Repeal. 65 Stat. 73. Act of 1951 are repealed. 19 USC 1362(2) Action taken by the President under section 5 of such Act and in 1365. effect on the date of the enactment of this Act shall be considered as Ante, p. 876. having been taken by the President under section 231. (3) Any investigation by the Tariff Commission under section 7 of such Act which is in progress on the date of the enactment of this P o s t, p. 883. Act shall be continued under section 301 as if the application by the interested party were a petition under such section for tariff adjustment under section 351. For purposes of section 301(f), such petition shall be treated as having been filed on the date of the enactment of this Act. (f) Section 2 of the Act entitled "An Act to extend the authority of Repeal. the President to enter into trade agreements under section 350 of the 72 Stat. 678. Tariff Act of 1930, as amended", approved July 1, 1954, is repealed. 19 USC 1352a. Any action (including any investigation begun) under such section 2' before the date of the enactment of this Act shall be considered as having been taken or begun under section 232. Ante, p. 74. (g)(1) Section 102(1) of the Tariff Classification Act of 1962 is amended by striking out "of schedules 1 to 7, inclusive,". Ante, p. 75. (2) Section 203 of the Tariff Classification Act of 1962 is amended to read as follows: "SEC. 203. For purposes of applying sections 323 and 350 of the Post, p. 883. Tariff Act of 1930, as amended, and the Trade Expansion Act of 1962 Supra. with respect to the Tariff Schedules of the United States— "(1) The rate of duty in rate column numbered 2 for each item in schedules 1 to 7, inclusive, of the Tariff Schedules of the United States shall be treated as the rate of duty existing on July 1, 1934. " (2) The lowest preferential or nonpreferential rate of duty in rate column numbered 1 for each item in schedules 1 to 7, inclusive, of the Tariff Schedules of the United States on the effective date provided in section 501(a) of this Act shall be treated as the lowest Ante, p. 78. preferential or nonpreferential rate of duty, respectively, existing on July 1, 1962; except that in the case of any such item included in a supplemental report made pursuant to section 101(c) of this Ante, p. 73. Act to reflect a change proclaimed by the President after July 1, 1962 (other than a change to which the United States was committed on July 1, 1962), the rate treated as the lowest nonpreferential rate of duty existing on July 1, 1962, shall be the rate which the Commission specifically declares in such supplemental report to be the rate which, in its judgment, conforms to the fullest extent practicable to the rate regarded as existing on July 1, 1962, under section 256(4) of the Trade Expansion Act of 1962.
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