Page:United States Statutes at Large Volume 88 Part 2.djvu/677

 88 STAT. ]

PUBLIC LAW 93-618-JAN. 3, 1975

(d) For purposes of this section, "major industrial country" means Canada, the European Economic Community, the individual member countries of such Community, Japan, and any other foreign country designated by the President for purposes of this subsection. SEC. 127. RESERVATION OF ARTICLES FOR NATIONAL SECURITY OR OTHER REASONS. (a) No proclamation shall be made pursuant to the provisions of this Act reducing or eliminating the duty or other import restriction on any article if the President determmes that such reduction or elimination would threaten to impair the national security. (b) While there is in effect with respect to any article any action taken under section 203 of this Act, or section 232 or 351 of the Trade Expansion Act of 1962 (19 U.S.C. 1862 or 1981), the President shall reserve such article from negotiations under this title (and from any action under section 122(c)) contemplating reduction or elimination of— (A) any duty on such article, (B) any import restriction imposed under such section, or (C) any other import restriction, the removal of which will be likely to undermine the effect of the import restrictions referred to in subparagraph (B). I n addition, the President shall also so reserve any other article which he determines to be appropriate, taking into consideration infonnation and advice available pursuant to and with respect to the matters covered by sections 131,132, and lo3, where applicable. (c) The President shall submit to the Congress an annual report on section 232 of the Trade Expansion Act of 1962. Within 60 days after he takes any action under such section 232, the President shall report to the Congress the action taken and the reasons therefor. (d) Section 232 of the Trade Expansion Act of 1962 is amended— (1) by striking out "Director of the Office of Emergency Planning (hereinafter in this section referred to as the 'Director') " in the first sentence of subsection (b) and inserting in lieu thereof "Secretary of the Treasury (hereinafter referred to as the 'Secretary')"; (2) by striking out "advice from other appropriate departments and agencies" in the first sentence of subsection (b) and inserting in lieu thereof "advice from, and shall consult with, the Secretary of Defense, the Secretary of Commerce, and other appropriate officers of the United States"; (3) by striking out the last sentence of subsection (b) and inserting in lieu thereof the following: "The Secretary shall, if it is appropriate and after reasonable notice, hold public hearings or otherwise afford interested parties an opportunity to present information and advice relevant to such investigation. The Secretary shall report the findings of his investigation under this subsection with respect to the effect of the importation of such article in such quantities or under such circumstances upon the national security and, based on such findings, his recommendation for action or inaction under this section to the President within one year after receiving an application from an interested party or otherwise beginning an investigation under this subsection. If the Secretary finds that such article is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security, he shall so advise the President and the President shall take such action, and for

1993 ^^"Jf^'°'' '"'^ff """ country,

19 USC 2137.

19 USC 2137.

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•^'^''o'con'^ris ^"[g usc°"86" 19 USC 1862. 19 USC 1862.

Hearings. ^ Report to Presi dent.

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