Page:United States Statutes at Large Volume 98 Part 3.djvu/651

 PUBLIC LAW 98-573—OCT. 30, 1984

98 STAT. 3023

mation, including that of the World Bank) of any beneficiary developing country for any calendar year (hereafter in this subsection referred to as the 'determination year') after 1984, exceeds the applicable limit for the determination year— "(A) subsection (c)(l)(B) shall be applied for the 2-year period beginning on July 1 of the calendar year succeeding the determination year by substituting '25 percent' for '50 percent', and "(B) such country shall not be treated as a beneficiary developing country under this title after the close of such 2-year period. "(2)(A) For purposes of this subsection, the term 'applicable limit' means the sum of— "(i) $8,500, plus "(ii) 50 percent of the amount determined under subparagraph (B) for the determination year. "(B) The amount determined under this subparagraph for the determination year is an amount equal to— "(i) $8,500, multiplied by "(ii) the percentage determined by dividing— "(I) the excess, if any, of the gross national product of the United States (as determined by the Secretary of Commerce) for the determination year over the gross national product of the United States for 1984, by "(II) the gross national product for 1984.". SEC. 506. EXTENSION OF THE GENERALIZED SYSTEM OF PREFERENCES AND REPORTS.

(a) Section 505 of the Trade Act of 1974 (19 U.S.C. 2465) is amended to read as follows: "SEC. 505. TERMINATION OF DUTY-FREE TREATMENT AND REPORTS.

"(a) No duty-free treatment provided under this title shall remain in effect after July 4, 1993. "(b) On or before January 4, 1990, the President shall submit to Reports. the Congress a full and complete report regarding the operation of this title. "(c) The President shall submit an annual report to the Congress on the status of internationaly recognized worker rights within each beneficiary developing country." (b) CONFORMING AMENDMENT.—'The table of contents of the Trade Act of 1974 is amended by striking out the item relating to section 505 and inserting in lieu thereof the following: "Sec. 505. Termination of duty-free treatment and reports.". SEC. 507. AGRICULTURAL EXPORTS OF BENEFICIARY DEVELOPING COUNTRIES.

(a) Title V of the Trade Act of 1974 (19 U.S.C. 2461 et seq.) is further amended by adding at the end thereof the following new section: "SEC. 506. AGRICULTURAL EXPORTS OF BENEFICIARY DEVELOPING COUNTRIES.

"The appropriate agencies of the United States shall assist beneficiary developing countries to develop and implement measures designed to assure that the agricultural sectors of their economies are not directed to export markets to the detriment of the production of foodstuffs for their citizenry."

19 USC 2466.

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