`[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3495 Reported in Senate (RS)]







                                                       Calendar No. 560
109th CONGRESS
  2d Session
                                S. 3495

To authorize the extension of nondiscriminatory treatment (normal trade 
            relations treatment) to the products of Vietnam.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 13, 2006

 Mr. Baucus (for himself, Mr. Smith, Mr. McCain, Mr. Kerry, Mr. Hagel, 
 Mr. Lugar, Ms. Murkowski, Mr. Carper, Mr. Crapo, Mr. Bennett, and Mr. 
   Stevens) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

                             July 31, 2006

              Reported by Mr. Grassley, without amendment

_______________________________________________________________________

                                 A BILL


 
To authorize the extension of nondiscriminatory treatment (normal trade 
            relations treatment) to the products of Vietnam.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. FINDINGS.

    Congress finds the following:
            (1) In July 1995, President Bill Clinton announced the 
        formal normalization of diplomatic relations between the United 
        States and Vietnam.
            (2) Vietnam has taken cooperative steps with the United 
        States under the United States Joint POW/MIA Accounting Command 
        (formerly the Joint Task Force-Full Accounting) established in 
        1992 by President George H. W. Bush to provide the fullest 
        possible accounting of MIA and POW cases.
            (3) In 2000, the United States and Vietnam concluded a 
        bilateral trade agreement that included commitments on goods, 
        services, intellectual property rights, and investment. The 
        agreement was approved by joint resolution enacted pursuant to 
        section 405(c) of the Trade Act of 1974 (19 U.S.C. 2435(c)), 
        and entered into force in December 2001.
            (4) Since 2001, normal trade relations treatment has 
        consistently been extended to Vietnam pursuant to title IV of 
        the Trade Act of 1974.
            (5) Vietnam has undertaken significant market-based 
        economic reforms, including the reduction of government 
        subsidies, tariffs and nontariff barriers, and extensive legal 
        reform. These measures have dramatically improved Vietnam's 
        business and investment climate.
            (6) Vietnam is in the process of acceding to the World 
        Trade Organization. On May 31, 2006, the United States and 
        Vietnam signed a comprehensive bilateral agreement providing 
        greater market access for goods and services and other trade 
        liberalizing commitments as part of the World Trade 
        Organization accession process.

SEC. 2. TERMINATION OF APPLICATION OF TITLE IV OF THE TRADE ACT OF 1974 
              TO VIETNAM.

    (a) Presidential Determinations and Extension of Non-Discriminatory 
Treatment.--Notwithstanding any provision of title IV of the Trade Act 
of 1974 (19 U.S.C. 2431 et seq.), the President may--
            (1) determine that such title should no longer apply to 
        Vietnam; and
            (2) after making a determination under paragraph (1) with 
        respect to Vietnam, proclaim the extension of nondiscriminatory 
        treatment (normal trade relations treatment) to the products of 
        that country.
    (b) Termination of the Applicability of Title IV.--On and after the 
effective date of the extension of nondiscriminatory treatment to the 
products of Vietnam under subsection (a), title IV of the Trade Act of 
1974 shall cease to apply to that country.
                                                       Calendar No. 560

109th CONGRESS

  2d Session

                                S. 3495

_______________________________________________________________________

                                 A BILL

To authorize the extension of nondiscriminatory treatment (normal trade 
            relations treatment) to the products of Vietnam.

_______________________________________________________________________

                             July 31, 2006

                       Reported without amendment`