Page:United States Statutes at Large Volume 88 Part 2.djvu/672

 1988

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PUBLIC LAW 93-618-JAN. 3, 1975

[88 STAT.

(A) a temporary import surcharge, not to exceed 15 percent ad valorem, in the form of duties (in addition to those already imposed, if any) on articles imported into the United States; (B) temporary limitations through the use of quotas on the importation of articles into the United States; or (C) both a temporary import surcharge described in subparagraph (A) and temporary limitations described in subparagraph (B). The authority delegated under subparagraph (B) (and so much of subparagraph (C) as relates to subparagraph (B)) may be exercised (i) only if international trade or monetary agreements to which the United States is a party permit the imposition of quotas as a balanceof-payments measure, and (ii) only to the extent that the fundamental imbalance cannot be dealt with effectively by a surcharge proclaimed pursuant to subparagraph (A) or (C). Any temporary import surcharge proclaimed pursuant to subparagraph (A) or (C) shall be treated as a regular customs duty. (b) If the President determines that the imposition of import restrictions under subsection (a) will be contrary to the national interest of the United States, then he may refrain from proclaiming such restrictions and he shall— (1) immediately inform Congress of his determination, and (2) immediately convene the group of congressional official advisers designated under section 161(a) and consult with them as to the reasons for such determination. (^) Whenever the President determines that fundamental international payments problems require special import measures to increase imports— (1) to deal with large and persistent United States balanceof-trade surpluses, as determined on the basis of the costinsurance-freight value of imports, as reported by the Bureau of the Census, or (2) to prevent significant appreciation of the dollar in foreign exchange markets. the President is authorized to proclaim, for a period of 150 days (unless such period is extended by Act of Congress) — (A) a temporary reduction (of not more than 5 percent ad valorem) in the rate of duty on any article; and (B) a temporary increase in the value or quantity of articles which may be imported under any import restriction, or a temporary suspension of any import restriction. Import liberalizing actions proclaimed pursuant to this subsection shall be of broad and uniform application with respect to product coverage except that the President shall not proclaim measures under this subsection with respect to those articles where in his judgment such action will cause or contribute to material injury to firms or workers in any domestic industry, including agriculture, mining, fishing, or commerce, or to impairment of the national security, or will otherwise be contrary to the national interest. (d)(1) Import restricting actions proclaimed pursuant to subsection (a) shall be applied consistently with the principle of nondiscriminatory treatment. I n addition, any quota proclaimed pursuant to subparagraph (B) of subsection (a) shall be applied on a basis which aims at a distribution of trade with the United States approaching as closely as possible that which various foreign countries might have expected to obtain in the absence of such restrictions.

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