Page:United States Statutes at Large Volume 102 Part 2.djvu/234

 102 STAT. 1238

PUBLIC LAW 100-418—AUG. 23, 1988 withdrawal from warehouse of articles covered by such agreement. In addition, in order to carry out any orderly marketing agreement concluded under this chapter with one or more countries accounting for a major part of United States imports of the article covered by such agreements, including imports into a major gec^aphic area of the United States, the President may issue r^ulations governing the entry or withdrawal from warehouse of like articles which are the product of countries not parties to such agreement. "(3) Regulations prescribed under this subsection shall, to the extent practicable and consistent with efficient and fair administration, insure against inequitable sharing of imports by a relatively small number of the larger importers.

19 USC 2254.

"SEC. 204. MONITORING, MODIFICATION, AND TERMINATION OF ACTION. "(a) MONITORING.—

Reports.

"(1) So long as any action taken under section 203 remains in effect, the Commission shall monitor developments with respect to the domestic industry, including the progress and specific efforts made by workers and firms in the domestic industry to make a positive adjustment to import competition. "(2) 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— "(A) the 2nd-anniversary of the day on which the action under section 203 first took effect; and "(B) the last day of each 2-year period occurring after the 2-year period referred to in subparagraph (A). "(3) In the course of preparing each report under paragraph (2), the Commission shall hold a hearing at which interested persons shall be given a reasonable opportunity to be present, to produce evidence, and to be heeird. "(4) Upon request of the President, the Commission shall advise the President of its judgment as to the probable economic effect on the industry concerned of any extension, reduction, modification, or termination of the action taken under section 203 which is under consideration. "(b) REDUCTION, MODIFICATION, AND TERMINATION OF ACTION.—

"(1) Action taken under section 203 may be reduced, modified, or terminated by the President (but not before the President receives the report required under subsection (a)(2)(A)) if the President— "(A) after taking into account any report or advice submitted by the Commission under subsection (a) and after seeking the advice of the Secretary of Commerce and the Secretary of Labor, determines, on the basis that either— "(i) the domestic industry has not made adequate efforts to make a positive adjustment to import competition, or "(ii) the effectiveness of the action taken under section 203 has been impaired by changed economic circumstances, that changed circumstances warrant such reduction, or termination; or "(B) determines, after a majority of the representatives of the domestic industry submits to the President a petition requesting such reduction, modification, or termination on

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