to the information provided to official advisers under paragraph (1).

(B) The Chairman of any committee of the House or Senate or any joint committee of Congress from which official advisers are selected under subsection (a)(2) may designate other members of such committee, and staff members of such committee, who shall have access to the information provided to official advisers under paragraph (2).

(c) COMMITTEE CONSULTATION.-The United States Trade Representative shall consult on a continuing basis with the Committee on Ways and Means of the House of Representatives, the Committee on Finance of the Senate, and the other appropriate committees of the House and Senate on the development, implementation, and administration of overall trade policy of the United States. Such consultations shall include, but are not limited to, the following elements of such policy:

(1) The principal multilateral and bilateral negotiating objectives and the progress being made toward their achievement. (2) The implementation, administration, and effectiveness of recently concluded multilateral and bilateral trade agreements and resolution of trade disputes.

(3) The actions taken, and proposed to be taken, under the trade laws of the United States and the effectiveness, or anticipated effectiveness, of such actions in achieving trade policy objectives.

(4) The important developments and issues in other areas of trade for which there must be developed proper policy re

sponse.

When necessary, meetings shall be held with each Committee in executive session to review matters under negotiation.

SEC. 162.84 TRANSMISSION OF AGREEMENTS TO CONGRESS.

(a) As soon as practicable after agreement entered into under 85 section 123 or 124 or under section 1102 of the Omnibus trade and Competitiveness Act of 1988 85 has entered into force with respect to the United States, the President shall, if he has not previously done so, transmit a copy of such trade agreement to each House of the Congress together with a statement, in the light of the advice of the International Trade Commission under section 131(b), if any, and of the other relevant considerations, of his reasons for entering into the agreement.

(b) The President shall transmit to each Member of the Congress a summary of the information required to be transmitted to each House under subsection (a). For purposes of this subsection, the term "Member" includes any Delegate or Resident Commissioner. SEC. 163.86 REPORTS.

(a) ANNUAL REPORT ON TRADE AGREEMENTS PROGRAM and NaTIONAL TRADE POLICY AGENDA.

84 19 U.S.C. 2212.

85 Sec. 9001(a)(10) of the Technical and Miscellaneous Revenue Act of 1988 (Public Law 100647; 102 Stat. 3342) amended subsec. (a) by striking out "chapter 1 or" which previously ap peared before "sec 123"; and by inserting the text "or under section 1102 of the Omnibus Trade and Competitiveness Act of 1988".

86 19 U.S.C. 2213. Sec. 163 was amended and restated by sec. 1641 of the Omnibus Trade and Competitiveness Act of 1988 (Public Law 100-418; 102 Stat. 1271).

(1) The President shall submit to the Congress during each calendar year (but not later than March 1 of that year) a report on

(A) the operation of the trade agreements program, and the provision of import relief and adjustment assistance to workers and firms, under this Act during the preceding calendar year; and

(B) the national trade policy agenda for the year in which the report is submitted.

(2) The report shall include, with respect to the matters referred to in paragraph (1)(A), information regarding—

(A) new trade negotiations;

(B) changes made in duties and nontariff barriers and other distortions of trade of the United States;

(C) reciprocal concessions obtained;

(D) changes in trade agreements (including the incorporation therein of actions taken for import relief and compensation provided therefor);

(E) the extension or withdrawal of nondiscriminatory treatment by the United States with respect to the products of foreign countries;

(F) the extension, modification, withdrawal, suspension, or limitation of preferential treatment to exports of developing countries;

(G) the results of actions to obtain the removal of foreign trade restrictions (including discriminatory restrictions) against United States exports and the removal of foreign practices which discriminate against United States service industries (including transportation and tourism) and investment;

(H) the measures being taken to seek the removal of other significant foreign import restrictions;

(I) each of the referrals made under section 141(d)(1)(B) and any action taken with respect to such referral;

(J) other information relating to the trade agreements program and to the agreements entered into thereunder; and

(K) the number of applications filed for adjustment assistance for workers and firms, the number of such applications which were approved, and the extent to which adjustment assistance has been provided under such approved applications.

(3)(A) The national trade policy agenda required under paragraph (1)(B) for the year in which a report is submitted shall be in the form of a statement of—

(i) the trade policy objectives and priorities of the United States for the year, and the reasons therefor;

(ii) the actions proposed, or anticipated, to be undertaken during the year to achieve such objectives and priorities, including, but not limited to, actions authorized under the trade laws and negotiations with foreign countries;

(iii) any proposed legislation necessary or appropriate to achieve any of such objectives or priorities; and

(iv) the progress that was made during the preceding year in achieving the trade policy objectives and priorities included in the statement provided for that year under this paragraph.

(B) The President may separately submit any information referred to in subparagraph (A) to the Congress in confidence if the President considers confidentiality appropriate.

(C) Before submitting the national trade policy agenda for any year, the President shall seek advice from the appropriate advisory committees established under section 135 and shall consult with the appropriate committees of the Congress.

(D) The United States Trade Representative (hereafter referred to in this section as the "Trade Representative') and other appropriate officials of the United States Government shall consult periodically with the appropriate committees of the Congress regarding the annual objectives and priorities set forth in each national trade policy agenda with respect to

(i) the status and results of the actions that have been undertaken to achieve the objectives and priorities; and

(ii) any development which may require, or result in, changes to any of such objectives or priorities.

(b) ANNUAL TRADE PROJECTION ŘEPORT.—

(1) In order for the Congress to be informed of the impact of foreign trade barriers and macroeconomic factors on the balance of trade of the United States, the Trade Representative and the Secretary of the Treasury shall jointly prepare and submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives (hereafter referred to in this subsection as the 'Committees') on or before March 1 of each year a report which consists of

(A) a review and analysis of

(i) the merchandise balance of trade,

(ii) the goods and services balance of trade,

(iii) the balance on the current account,

(iv) the external debt position,

(v) the exchange rates,

(vi) the economic growth rates,

(vii) the deficit or surplus in the fiscal budget, and (viii) the impact on United States trade of market barriers and other unfair practices,

of countries that are major trading partners of the United States, including, as appropriate, groupings of such countries;

(B) projections for each of the economic factors described in subparagraph (A) (except those described in clauses (v) and (viii)) for each of the countries and groups of countries referred to in subparagraph (A) for the year in which the report is submitted and for the succeeding year; and

(C) conclusions and recommendations, based upon the projections referred to in subparagraph (B), for policy changes, including trade policy, exchange rate policy, fiscal policy, and other policies that should be implemented to improve the outlook.

(2) To the extent that subjects referred to in paragraph (1) (A), (B), or (C) are covered in the national trade policy agenda required under subsection (a)(1)(B) or in other reports required by this Act or other law, the Trade Representative and the Secretary of the Treasury may, as appropriate, draw on the information, analysis, and conclusions, if any, in those reports for the purposes of preparing the report required by this sub

section.

(3) The Trade Representative and the Secretary of the Treasury shall consult with the Chairman of the Board of Governors of the Federal Reserve System in the preparation of each report required under this subsection.

(4) The Trade Representative and the Secretary of the Treasury may separately submit any information, analysis, or conclusion referred to in paragraph (1) to the Committees in confidence if the Trade Representative and the Secretary consider confidentiality appropriate.

(5) After submission of each report required under paragraph (1), the Trade Representative and the Secretary of the Treasury shall consult with each of the Committees with respect to the report.

(c) ITC REPORTS.-The United States International Trade Commission shall submit to the Congress, at least once a year, a factual report on the operation of the trade agreements program.

CHAPTER 7-UNITED STATES INTERNATIONAL TRADE COMMISSION 87

SEC. 171.88 CHANGE OF NAME OF TARIFF COMMISSION.

(a) The United States Tariff Commission (established by section 330 of the Tariff Act of 1930) is renamed as the United States International Trade Commission.

(b) Any reference in any law of the United States, or in any order, rule, regulation, or other document, to the United States Tariff Commission (or the Tariff Commission) shall be considered to refer to the United States International Trade Commission.

SEC. 175.89 INDEPENDENT BUDGET AND AUTHORIZATION OF APPROPRIATIONS.

(a)(1) Effective with respect to the fiscal year beginning October 1, 1976, for purposes of the Budget and Accounting Act, 1921 (31 U.S.C. 1 et seq.), estimated expenditures and proposed appropriations for the United States International Trade Commission shall be transmitted to the President on or before October 15 of the year preceding the beginning of each fiscal year and shall be included by him in the Budget without revision, and the Commission shall not be considered to be a department or establishment for purposes of such Act.

(b)

$7 For the most part, ch. 7 contained amendments to sec. 330-333 of the Tariff Act of 1930. For text of these amendments and other material relating to the U.S. International Trade Commission, see beginning at page 566.

88 19 U.S.C. 2231.

89 19 U.S.C. 2232.

(c)(1) Paragraph (2) is enacted as an exercise of the rulemaking power of the Senate and with full recognition of the constitutional right of the Senate to change its rules at any time.

(2) Paragraph 6(a) of rule XVI of the Standing Rules of the Senate is amended by adding at the end of the table contained therein the following:

"Committee on Finance........

For the International Trade Commission.".

CHAPTER 8-IDENTIFICATION OF MARKET BARRIERS AND CERTAIN UNFAIR TRADE ACTIONS 90

SEC. 181.91 ESTIMATES OF BARRIERS TO MARKET ACCESS. (a) NATIONAL TRADE ESTIMATES.—

(1) IN GENERAL.-For calendar year 1988, and for each suc ceeding calendar year, 92 the United States Trade Representa tive, through the interagency trade organization established pursuant to section 242(a) of the Trade Expansion Act of 1962,93 and with the assistance of the interagency advisory committee established under section 141(d)(2),92 shall—

(A) identify and analyze acts, polices, or practices of each foreign country 94 which constitute significant barriers to, or distortions of

(i) United States exports of goods or services (including agricultural commodities; and property protected by trademarks, patents, and copyrights exported or licensed by United States persons), and

(ii) foreign direct investment by United States persons, especially if such investment has implications for trade in goods or services; 94

(B) make an estimate of the trade-distorting impact on United States commerce of any act, policy, or practice identified under subparagraph (A); and 94

(C) 94 make an estimate, if feasible, of—

(i) the value of additional goods and services of the United States, and

(ii) the value of additional foreign direct investment by United States persons,

that would have been exported to, or invested in, each foreign country during such calendar year if each of such acts, policies, and practices of such country did not exist. (2) CERTAIN FACTORS TAKEN INTO ACCOUNT IN MAKING ANALYSIS AND ESTIMATE.-In making any analysis or estimate under

90 Sec. 1303(c)(1) of Public Law 100-418 (102 Stat. 1181) amended the heading for Ch. 8 which formerly read "Barriers to Market Access".

91 19 U.S.C. 2241 note. Sec. 303(a) of Public Law 98-573 (98 Stat. 3001) added sec. 181. Sec. 1304(a)(10) of Public Law 100-418; 102 Stat. 1182), substituted "ESTIMATES OF" in the section heading in lieu of "ACTIONS CONCERNING".

92 Sec. 1304(a)(1) of Public Law 100-418 (102 Stat. 1181) substituted "For each calendar year 1988, and for each succeeding calendar year," in lieu of "Not later than the date on which the initial report is required under subsection (b)(1),”. Sec. 1304(a)(9) of that Act added the phrase "and with the assistance of the interagency advisory committee established under section 141(d)(2),".

93 For text, see page 554.

94 The words "of each foreign country" were added by sec. 1304(a)(2) of Public Law 100-418 (102 Stat. 1181). Sec. 1304(a) also amended sec. 181(a) by striking out "and" at the end of subsec (a)(1)A)ii); (4) by striking out the period at the end of subsec. (aX1XB) and inserting in lieu thereof "; and"; and by adding at the end of subsec. (a)(1) a new subpar. (C).