Page:United States Statutes at Large Volume 72 Part 1.djvu/717

 72 S T A T. ]

675

PUBLIC LAW 85-686-AUG. 20, 1958

tive to be read for the purposes of this paragraph as relating to the rate of duty applicable to products of Cuba. With respect to products of Cuba, the limitation of subsection (a)(2)(D) (ii) or (4)(A) (iii) may be exceeded to such extent as may be required to maintain an absolute margin of preference to which such products are entitled." (c) Paragraph (2)(A) of subsection (c) of section 350 of the Tariff Act of 1930, as amended (19 U.S.C. sec. 1351 (c)(2)(A)), is amended by striking out " 'existing on January 1, 1945' and 'existing on January 1, 1955'" and by inserting in lieu thereof " 'existing on July 1, 1934', 'existing on January 1, 1945', 'existing on January 1, 1955', and 'existing on July 1, 1958' ". (d) Paragraph (1) of subsection (e) of section 350 of the Tariff Act of 1930, as amended (19 U.S.C. sec. 1351 (e)(1)), is amended by inserting after "(including the incorporation therein of escape clauses)," the following: "the results of action taken to obtain removal of foreign trade restrictions (including discriminatory restrictions) against United States exports, remaining restrictions, and the measures available to seek their removal in accordance with the objectives of this section ". (e) Section 350 of the Tariff Act of 1930, as amended (19 U.S.C. sec. 1351), is amended by adding at the end thereof the following new subsection: "(f) I t is hereby declared to be the sense of the Congress that the President, during the course of negotiating any foreign trade agreement under this section, should seek information and advice with respect to such agreement from representatives of industry, agriculture, and labor." SEC. 4. (a) The third sentence of subsection (a) of section 3 of the Trade Agreements Extension Act of 1951, as amended (19 U.S.C. sec. 1360 (a)), is amended by striking out "120 days" and inserting in lieu thereof "six months". The last sentence of such subsection is amended by striking out "120-day'' and inserting in lieu thereof "sixmonth". (b) Subsection (b) of section 3 of the Trade Agreements Extension Act of 1951, as amended (19 U.S.C. sec. 1360 (b)), is amended by adding at the end thereof the following new sentence: "If in the course of any such investigation the Commission shall find with respect to any article on the list upon which a tariff concession has been granted that an increase in duty or additional import restriction is required to avoid serious injury to the domestic industry producing like or directly competitive articles, the Commission shall promptly institute an investigation with respect to that article pursuant to section 7 of this Act." (c) Such subsection (b) is further amended by inserting " (1) " after " (b) " and by adding at the end thereof the following: " (2) I n each such investigation the Commission shall, to the extent practicable and without excluding other factors, ascertain for the last calendar year preceding the investigation the average invoice price on a country-of-origin basis (converted into currency of the United States in accordance with the provisions of section 522 of the Tariff Act of 1930, as amended) at which the foreign article was sold for export to the United States, and the average prices at which the like or directly competitive domestic articles were sold at wholesale in the principal markets of the United States. The Commission shall also, to the extent practicable, estimate for each article on the list the maximum increase in annual imports which may occur without causing serious injury to the domestic industry producing like or directly competitive articles. The Commission shall request the executive de-

Definition of duties.

Report to Congress.

Information.

Peril-point vestigations. 65 Stat. 72.

Escape-c 1 a u s e investigations.

19 USC 1364.

46 Stat. 739. 31 USC 372.

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