Page:United States Statutes at Large Volume 76.djvu/923

 76 STAT. ]

PUBLIC LAW 87-794-OCT. 11, 1962

875

may be given to reducing the rate of duty below the 50 percent limitation contained in section 201(b)(1), the list shall specify the section or sections of this title pursuant to which such consideration may be given. (b) Within 6 months after receipt of such a list, the Tariff Commission shall advise the President with respect to each article of its judgment as to the probable economic effect of modifications of duties or other import restrictions on industries producing like or directly competitive articles, so as to assist the President in making an informed judgment as to the impact that might be caused by such modifications on United States industry, agriculture, and labor. (c) I n preparing its advice to the President, the Tariff Commission shall, to the extent practicable— (1) investigate conditions, causes, and effects relating to competition between the foreign industries producing the articles in question and the domestic industries producing the like or directly competitive articles; (2) analyze the production, trade, and consumption of each like or directly competitive article, taking into consideration employment, profit levels, and use of productive facilities with respect to the domestic industries concerned, and such other economic factors in such industries as it considers relevant, including prices, wages, sales, inventories, patterns of demand, capital investment, obsolescence of equipment, and diversification of production; (3) describe the probable nature and extent of any significant change in employment, profit levels, use of productive facilities and such other conditions as it deems relevant in the domestic industries concerned which it believes such modifications would cause; and (4) make special studies (including studies of real wages paid in foreign supplying countries), whenever deemed to be warranted, of particular proposed modifications affecting United States industry, agriculture, and labor', utilizing to the fullest extent practicable the facilities of United States attaches abroad and other appropriate personnel of the United States, (d) I n preparing its advice to the President, the Tariff Commission shall, after reasonable notice, hold public hearings. SEC. 222. ADVICE FROM DEPARTMENTS. Before any trade agreement is entered into under this title, the President shall seek information and advice with respect to such agreement from the Departments of Agriculture, Commerce, Defense, Interior, Labor, State, and Treasury, and from such other sources as he may deem appropriate. SEC. 223. PUBLIC HEARINGS. I n connection with any proposed trade agreement under this title, the President shall afford an opportunity for any interested person to present his views concerning any article on a list published pursuant to section 221, any article which should be so listed, any concession which should be sought by the United States, or any other matter relevant to such proposed trade agreement. For this purpose, the President shall designate an agency or an interagency committee Designation of which shall, after reasonable notice, hold public hearings, shall pre- agency by presiscribe regulations governing the conduct of such hearings, and shall furnish the President with a summary of such hearings. SEC. 224. PREREQUISITE FOR OFFERS. The President may make an offer for the modification or continuance of any duty or other import restriction, or continuance of dutyfree or excise treatment, with respect to any article only after he has

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