Page:United States Statutes at Large Volume 108 Part 6.djvu/361

 •••-• >%^H'.' . >%''' PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 4929 (II) why the implementing bill and proposed administrative action is required or appropriate to csirry out the extension. (4) APPLICATION OF CONGRESSIONAL "FAST TRACK" PROCE- DURES TO IMPLEMENTING BILL.—Section 151 of the Trade Act of 1974 (19 U.S.C. 2191) is amended— (A) in subsection (b)(1)— (i) by inserting ", or with respect to an extension described in section 282(c)(3) of the Uruguay Roimd Agreements Act," after "trade agreements", (ii) by striking "or section 1103(a)(1) of the Onmibus Trade and Competitiveness Act of 1988" and inserting ", section 1103(a)(l) of the Omnibus Trade and Competitiveness Act of 1988, or section 282 of the • Uruguay Round Agreements Act", and (iii) by inserting "or such extension" in subparagraphs (A) and (C) after "agreements" each place it appears, and (B) in subsection (c)(1)— (i) by inserting "or section 282 of the Uruguay Round Agreements Act" after "section 102", and (ii) by inserting "or extension" after "agreement^' each place it appears. (5) REPORT BY THE TRADE REPRESENTATIVE. — Not later than the date referred to in section 771(5B)(G)(i) of the Tariif Act of 1930, the Trade Representative shall submit to the Congress a report setting forth the provisions of law which were enacted to implement Articles 6.1, 8, and 9 of the Subsidies Agreement and snould be repealed or modified if such provisions are not extended. (d) REVIEW OF THE OPERATION OF THE SUBSIDIES AGREEMENT.— The Secretary of Commerce, in consultation with other appropriate departments and agencies of the Federal Government, shall undertake an ongoing review of the operation of the Subsidies Agreement The review shall address— (1) the effectiveness of part II of the Subsidies Agreement in disciplining the use of suTbsidies which are prohibited under Article 3 of the Agreement, (2) the effectiveness of part III and, in particular. Article 6.1 of the Subsidies Agreement, in remedying the adverse effects of subsidies which are actionable under the Agreement, and (3) the extent to which the provisions of part IV of the Subsidies Agreement may have undermined the benefits derived from other parts of the Agreement, and, in particular— (A) the extent to which WTO member countries have cooperated in reviewing and improving the operation of part IV of the Subsidies Agreement, (B) the extent to which the provisions of Articles 8.4 and 8.5 of the Subsidies Agreement have been effective in identifying and remedying violations of the conditions and criteria described in Article 8.2 of the A^:^ement, and (C) the extent to which the provisions of Article 9 of the Subsidies Agreement have been effective in remedy- ing the serious adverse effects of subsidy programs described in Article 8.2 of the Agreement

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