Page:United States Statutes at Large Volume 108 Part 6.djvu/265

 PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 4833 (6) each proceeding before a panel or the Appellate Body that was initiated during that fiscal year regarding Federal or State law, the status of the proceeding, and the matter at issue; (7) the status of consultations with any State whose law was the subject of a report adverse to the United States that was issued by a panel or the Appellate Body; and (8) any progress achieved in increasing the transparency of proceedings of the Ministerial Conference and the General Council, and of dispute settlement proceedings conducted pursuant to the Dispute Settlement Understanding. SEC. 125. REVIEW OF PARTICIPATION IN THE WTO. 19 USC 3535. (a) REPORT ON THE OPERATION OF THE WTO. —The first annual report submitted to the Congress under section 124— (1) after the end of the 5-year period beginning on the date on which the WTO Agreement enters into force with respect to the United States, and (2) after the end of everv 5-year period thereafter, shall include an analysis of the effects of the WTO Agreement on the interests of the United States, the costs and benefits to the United States of its participation in the WTO, and the value of the continued participation of the United States in the WTO. (b) CONGRESSIONAL DISAPPROVAL OF U.S. PARTICIPATION IN THE WTO.— (1) GENERAL RULE. —The approval of the Congress, provided under section 101(a), of the WTO Agreement shall cease to be effective if, and only if, a joint resolution described in subsection (c) is enacted into law pursuant to the provisions of paragraph (2). (2) PROCEDURAL, PROVISIONS.— (A) The reqiiirements of this paragraph are met if the joint resolution is enacted under subsection (c), and— (i) the Congress adopts and transmits the joint resolution to the President before the end of the 90-day period (excluding any day described in section 154(b) of the Trade Act of 1974), beginning on the date on which the Congress receives a report referred to in subsection (a), and (ii) if the President vetoes the joint resolution, each House of Congress votes to override that veto on or before the later of the last day of the 90-day period referred to in clause (i) or the last day of the 15-day period (excluding any day described in section 154(b) of the Trade Act of 1974) beginning on the date on which the Congress receives the veto messagefi*omthe President (B) A joint resolution to which this section applies may be introduced at any time on or after the date on which the President transmits to the Congress a report described in subsection (a), and before the end of the 90-day period referred to in subparagraph (A). (c) JOINT RESOLUTIONS.— (1) JOINT RESOLUTIONS.—For purposes of this section, the term "joint resolution" means only a joint resolution of the 2 Houses of Congress, the matter after the resolving clause of which is as follows: That the Congress withdraws its approval, provided under section 101(a) of the Uruguay Round

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