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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2754 Introduced in House (IH)]

104th CONGRESS
  1st Session
                                H. R. 2754

    To approve and implement the OECD Shipbuilding Trade Agreement.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           December 11, 1995

   Mr. Crane (for himself, Mr. Gibbons, and Ms. Dunn of Washington) 
 introduced the following bill; which was referred to the Committee on 
Ways and Means, and in addition to the Committee on National Security, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                                 A BILL

 
    To approve and implement the OECD Shipbuilding Trade Agreement.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Shipbuilding Trade Agreement Act''.

SEC. 2. APPROVAL OF THE SHIPBUILDING AGREEMENT.

    The Congress approves The Agreement Respecting Normal Competitive 
Conditions in the Commercial Shipbuilding and Repair Industry 
(hereafter in this Act referred to as the ``Shipbuilding Agreement''), 
a reciprocal trade agreement which resulted from negotiations under the 
auspices of the Organization for Economic Cooperation and Development, 
and was entered into on December 21, 1994.

SEC. 3. EFFECTIVE DATE.

    This Act and the amendments made by this Act take effect on the 
date that the Shipbuilding Agreement enters into force with respect to 
the United States.

             TITLE I--INJURIOUS PRICING AND COUNTERMEASURES

SEC. 101. INJURIOUS PRICING AND COUNTERMEASURES PROCEEDINGS.

    The Tariff Act of 1930 is amended by adding at the end the 
following new title:

    ``TITLE VIII--INJURIOUS PRICING AND COUNTERMEASURES RELATING TO 
                              SHIPBUILDING

       ``Subtitle A--Injurious Pricing Charge and Countermeasures

        ``Sec. 801. Injurious pricing charge.
        ``Sec. 802. Procedures for initiating an injurious pricing 
                            investigation.
        ``Sec. 803. Preliminary determinations.
        ``Sec. 804. Termination or suspension of investigation.
        ``Sec. 805. Final determinations.
        ``Sec. 806. Imposition and collection of injurious pricing 
                            charge.
        ``Sec. 807. Imposition of countermeasures.
        ``Sec. 808. Injurious pricing petitions by third countries.
                      ``Subtitle B--Special Rules

        ``Sec. 821. Export price.
        ``Sec. 822. Normal value.
        ``Sec. 823. Currency conversion.
                        ``Subtitle C--Procedures

        ``Sec. 841. Hearings.
        ``Sec. 842. Determinations on the basis of the facts available.
        ``Sec. 843. Access to information.
        ``Sec. 844. Conduct of investigations.
        ``Sec. 845. Administrative action following shipbuilding 
                            agreement panel reports.
                       ``Subtitle D--Definitions

        ``Sec. 861. Definitions.

       ``Subtitle A--Injurious Pricing Charge and Countermeasures

``SEC. 801. INJURIOUS PRICING CHARGE.

    ``(a) Basis for Charge.--If--
            ``(1) the administering authority determines that a foreign 
        vessel has been sold directly or indirectly to one or more 
        United States buyers at less than its fair value, and
            ``(2) the Commission determines that--
                    ``(A) an industry in the United States--
                            ``(i) is or has been materially injured, or
                            ``(ii) is threatened with material injury, 
                        or
                    ``(B) the establishment of an industry in the 
                United States is or has been materially retarded,
        by reason of the sale of such vessel, then there shall be 
        imposed upon the foreign producer of the subject vessel an 
        injurious pricing charge, in an amount equal to the amount by 
        which the normal value exceeds the export price for the vessel. 
        For purposes of this subsection and section 805(b)(1), a 
        reference to the sale of a foreign vessel includes the creation 
        or transfer of an ownership interest in the vessel, except for 
        an ownership interest created or acquired solely for the 
        purpose of providing security for a normal commercial loan.
    ``(b) Foreign Vessels Not Merchandise.--No foreign vessel may be 
considered to be, or to be part of, a class or kind of merchandise for 
purposes of subtitle B of title VII.

``SEC. 802. PROCEDURES FOR INITIATING AN INJURIOUS PRICING 
              INVESTIGATION.

    ``(a) Initiation by Administering Authority.--
            ``(1) General rule.--Except in the case in which subsection 
        (d)(6) applies, an injurious pricing investigation shall be 
        initiated whenever the administering authority determines, from 
        information available to it, that a formal investigation is 
        warranted into the question of whether the elements necessary 
        for the imposition of a charge under section 801(a) exist, and 
        whether a producer described in section 861(17)(C) would meet 
        the criteria of subsection (b)(1)(B) for a petitioner.
            ``(2) Time for initiation by administering authority.--An 
        investigation may only be initiated under paragraph (1) within 
        6 months after the time the administering authority first knew 
        or should have known of the sale of the vessel. Any period in 
        which subsection (d)(6)(A) applies shall not be included in 
        calculating that 6-month period.
    ``(b) Initiation by Petition.--
            ``(1) Petition requirements.--(A) Except in a case in which 
        subsection (d)(6) applies, an injurious pricing proceeding 
        shall be initiated whenever an interested party, as defined in 
        subparagraph (C), (D), (E), or (F) of section 861(17), files a 
        petition with the administering authority, on behalf of an 
        industry, which alleges the elements necessary for the 
        imposition of an injurious pricing charge under section 801(a) 
        and the elements required under subparagraph (B), (C), (D), or 
        (E) of this paragraph, and which is accompanied by information 
        reasonably available to the petitioner supporting those 
        allegations and identifying the transaction concerned.
            ``(B)(i) If the petitioner is a producer described in 
        section 861(17)(C), and--
                    ``(I) if the vessel was sold through a broad 
                multiple bid, the petition shall include information 
                indicating that the petitioner was invited to tender a 
                bid on the contract at issue, the petitioner actually 
                did so, and the bid of the petitioner substantially met 
                the delivery date and technical requirements of the 
                bid,
                    ``(II) if the vessel was sold through any bidding 
                process other than a broad multiple bid and the 
                petitioner was invited to tender a bid on the contract 
                at issue, the petition shall include information 
                indicating that the petitioner actually did so and the 
                bid of the petitioner substantially met the delivery 
                date and technical requirements of the bid, or
                    ``(III) except in a case in which the vessel was 
                sold through a broad multiple bid, if there is no 
                invitation to tender a bid, the petition shall include 
                information indicating that the petitioner was capable 
                of building the vessel concerned and, if the petitioner 
                knew or should have known of the proposed purchase, it 
                made demonstrable efforts to conclude a sale with the 
                United States buyer consistent with the delivery date 
                and technical requirements of the buyer.
            ``(ii) For purposes of clause (i)(III), there is a 
        rebuttable presumption that the petitioner knew or should have 
        known of the proposed purchase if it is demonstrated that--
                    ``(I) the majority of the producers in the industry 
                have made efforts with the United States buyer to 
                conclude a sale of the subject vessel, or
                    ``(II) general information on the sale was 
                available from brokers, financiers, classification 
                societies, charterers, trade associations, or other 
                entities normally involved in shipbuilding transactions 
                with whom the petitioner had regular contacts or 
                dealings.
            ``(C) If the petitioner is an interested party described in 
        section 861(17)(D), the petition shall include information 
        indicating that members of the union or group of workers 
        described in that section are employed by a producer that meets 
        the requirements of subparagraph (B) of this paragraph.
            ``(D) If the petitioner is an interested party described in 
        section 861(17)(E), the petition shall include information 
        indicating that a member of the association described in that 
        section is a producer that meets the requirements of 
        subparagraph (B) of this paragraph.
            ``(E) If the petitioner is an interested party described in 
        section 861(17)(F), the petition shall include information 
        indicating that a member of the association described in that 
        section meets the requirements of subparagraph (C) or (D) of 
        this paragraph.
            ``(F) The petition may be amended at such time, and upon 
        such conditions, as the administering authority and the 
        Commission may permit.
            ``(2) Simultaneous filing with commission.--The petitioner 
        shall file a copy of the petition with the Commission on the 
        same day as it is filed with the administering authority.
            ``(3) Deadline for filing petition.--
                    ``(A) Deadline.--(i) A petitioner to which 
                paragraph (1)(B) (i) or (ii) applies shall file the 
                petition no later than the earlier of--
                            ``(I) 6 months after the time that the 
                        petitioner first knew or should have known of 
                        the sale of the subject vessel, or
                            ``(II) 6 months after delivery of the 
                        subject vessel.
                    ``(ii) A petitioner to which paragraph (1)(B)(iii) 
                applies shall--
                            ``(I) file the petition no later than the 
                        earlier of 9 months after the time that the 
                        petitioner first knew or should have known of 
                        the sale of the subject vessel, or 6 months 
                        after delivery of the subject vessel, and
                            ``(II) submit to the administering 
                        authority a notice of intent to file a petition 
                        no later than 6 months after the time that the 
                        petitioner first knew or should have known of 
                        the sale (unless the petition itself is filed 
                        within that 6-month period).
                    ``(B) Presumption of knowledge.--For purposes of 
                this paragraph, if the existence of the sale, together 
                with general information concerning the vessel, is 
                published in the international trade press, there is a 
                rebuttable presumption that the petitioner knew or 
                should have known of the sale of the vessel from the 
                date of that publication.
    ``(c) Actions Before Initiating Investigations.--
            ``(1) Notification of governments.--Before initiating an 
        investigation under either subsection (a) or (b), the 
        administering authority shall notify the government of the 
        exporting country of the investigation. In the case of the 
        initiation of an investigation under subsection (b), such 
        notification shall include a public version of the petition.
            ``(2) Acceptance of communications.--The administering 
        authority shall not accept any unsolicited oral or written 
        communication from any person other than an interested party 
        described in section 861(17)(C), (D), (E), or (F) before the 
        administering authority makes its decision whether to initiate 
        an investigation pursuant to a petition, except for inquiries 
        regarding the status of the administering authority's 
        consideration of the petition or a request for consultation by 
        the government of the exporting country.
            ``(3) Nondisclosure of certain information.--The 
        administering authority and the Commission shall not disclose 
        information with regard to any draft petition submitted for 
        review and comment before it is filed under subsection (b)(1).
    ``(d) Petition Determination.--
             ``(1) Time for initial determination.--(A) Within 45 days 
        after the date on which a petition is filed under subsection 
        (b), the administering authority shall, after examining, on the 
        basis of sources readily available to the administering 
        authority, the accuracy and adequacy of the evidence provided 
        in the petition, determine whether the petition--
                    ``(i) alleges the elements necessary for the 
                imposition of an injurious pricing charge under section 
                801(a) and the elements required under subsection 
                (b)(1)(B), (C), (D), or (E), and contains information 
                reasonably available to the petitioner supporting the 
                allegations; and
                    ``(ii) determine if the petition has been filed by 
                or on behalf of the industry.
            ``(B) Any period in which paragraph (6)(A) applies shall 
        not be included in calculating the 45-day period described in 
        subparagraph (A).
            ``(2) Affirmative determinations.--If the determinations 
        under clauses (i) and (ii) of paragraph (1)(A) are affirmative, 
        the administering authority shall initiate an investigation to 
        determine whether the vessel was sold at less than fair value, 
        unless paragraph (6) applies.
            ``(3) Negative determinations.--If--
                    ``(A) the determination under clause (i) or (ii) of 
                paragraph (1)(A) is negative, or
                    ``(B) paragraph (6)(B) applies,
        the administering authority shall dismiss the petition, 
        terminate the proceeding, and notify the petitioner in writing 
        of the reasons for the determination.
            ``(4) Determination of industry support.--
                    ``(A) General rule.--For purposes of this 
                subsection, the administering authority shall determine 
                that the petition has been filed by or on behalf of the 
                domestic industry, if--
                            ``(i) the domestic producers or workers who 
                        support the petition collectively account for 
                        at least 25 percent of the total capacity of 
                        domestic producers capable of producing a like 
                        vessel, and
                            ``(ii) the domestic producers or workers 
                        who support the petition collectively account 
                        for more than 50 percent of the total capacity 
                        to produce a like vessel of that portion of the 
                        domestic industry expressing support for or 
                        opposition to the petition.
                    ``(B) Certain positions disregarded.--In 
                determining industry support under subparagraph (A), 
                the administering authority shall disregard the 
                position of domestic producers who oppose the petition, 
                if such producers are related to the foreign producer 
                or United States buyer of the subject vessel, or the 
                domestic producer is itself the United States buyer, 
                unless such domestic producers demonstrate that their 
                interests as domestic producers would be adversely 
                affected by the imposition of an injurious pricing 
                charge.
                    ``(C) Polling the industry.--If the petition does 
                not establish support of domestic producers or workers 
                accounting for more than 50 percent of the total 
                capacity to produce a like vessel--
                            ``(i) the administering authority shall 
                        poll the industry or rely on other information 
                        in order to determine if there is support for 
                        the petition as required by subparagraph (A), 
                        or
                            ``(ii) if there is a large number of 
                        producers in the industry, the administering 
                        authority may determine industry support for 
                        the petition by using any statistically valid 
                        sampling method to poll the industry.
                    ``(D) Comments by interested parties.--Before the 
                administering authority makes a determination with 
                respect to initiating an investigation, any person who 
                would qualify as an interested party under section 
                861(17) if an investigation were initiated, may submit 
                comments or information on the issue of industry 
                support. After the administering authority makes a 
                determination with respect to initiating an 
                investigation, the determination regarding industry 
                support shall not be reconsidered.
            ``(5) Definition of domestic producers or workers.--For 
        purposes of this subsection, the term `domestic producers or 
        workers' means interested parties as defined in section 
        861(17)(C), (D), (E), or (F).
            ``(6) Proceedings by wto members.--The administering 
        authority shall not initiate an investigation under this 
        section if, with respect to the vessel sale at issue, an 
        antidumping proceeding conducted by a WTO member who is not a 
        Shipbuilding Agreement Party--
                    ``(A) has been initiated and has been pending for 
                not more than one year, or
                    ``(B) has been completed and resulted in the 
                imposition of antidumping measures or a negative 
                determination with respect to whether the sale was at 
                less than fair value or with respect to injury.
    ``(e) Notification to Commission of Determination.--The 
administering authority shall--
            ``(1) notify the Commission immediately of any 
        determination it makes under subsection (a) or (d), and
            ``(2) if the determination is affirmative, make available 
        to the Commission such information as it may have relating to 
        the matter under investigation, under such procedures as the 
        administering authority and the Commission may establish to 
        prevent disclosure, other than with the consent of the party 
        providing it or under protective order, of any information to 
        which confidential treatment has been given by the 
        administering authority.

``SEC. 803. PRELIMINARY DETERMINATIONS.

    ``(a) Determination by Commission of Reasonable Indication of 
Injury.--
            ``(1) General rule.--Except in the case of a petition 
        dismissed by the administering authority under section 
        802(d)(3), the Commission, within the time specified in 
        paragraph (2), shall determine, based on the information 
        available to it at the time of the determination, whether there 
        is a reasonable indication that--
                    ``(A) an industry in the United States--
                            ``(i) is or has been materially injured, or
                            ``(ii) is threatened with material injury, 
                        or
                    ``(B) the establishment of an industry in the 
                United States is or has been materially retarded,
        by reason of the sale of the subject vessel. If the Commission 
        makes a negative determination under this paragraph, the 
        investigation shall be terminated.
            ``(2) Time for commission determination.--The Commission 
        shall make the determination described in paragraph (1) within 
        90 days after the date on which the petition is filed or, in 
        the case of an investigation initiated under section 802(a), 
        within 90 days after the date on which the Commission receives 
        notice from the administering authority that the investigation 
        has been initiated.
    ``(b) Preliminary Determination by Administering Authority.--
            ``(1) Period of injurious pricing investigation.--(A) The 
        administering authority shall make a determination, based upon 
        the information available to it at the time of the 
        determination, of whether there is a reasonable basis to 
        believe or suspect that the subject vessel was sold at less 
        than fair value.
            ``(B) If cost data is required to determine normal value on 
        the basis of a sale of a foreign like vessel that has not been 
        delivered on or before the date on which the administering 
        authority initiates the investigation, the administering 
        authority shall make its determination within 160 days after 
        the date of delivery of the foreign like vessel.
            ``(C) If normal value is to be determined on the basis of 
        constructed value, the administering authority shall make its 
        determination within 160 days after the date of delivery of the 
        subject vessel.
            ``(D) In cases in which subparagraph (B) or (C) does not 
        apply, the administering authority shall make its determination 
        within 160 days after the date on which the administering 
        authority initiates the investigation under section 802.
            ``(E) In no event shall the administering authority make 
        its determination before an affirmative determination is made 
        by the Commission under subsection (a).
            ``(2) De minimis injurious pricing margin.--In making a 
        determination under this subsection, the administering 
        authority shall disregard any injurious pricing margin that is 
        de minimis. For purposes of the preceding sentence, an 
        injurious pricing margin is de minimis if the administering 
        authority determines that the margin is less than 2 percent of 
        the export price.
    ``(c) Extension of Period in Extraordinarily Complicated Cases or 
for Good Cause.--
            ``(1) In general.--If--
                    ``(A) the administering authority concludes that 
                the parties concerned are cooperating and determines 
                that--
                            ``(i) the case is extraordinarily 
                        complicated by reason of--
                                    ``(I) the novelty of the issues 
                                presented, or
                                    ``(II) the nature and extent of the 
                                information required, and
                            ``(ii) additional time is necessary to make 
                        the preliminary determination, or
                    ``(B) a party to the investigation requests an 
                extension and demonstrates good cause for the 
                extension,
        then the administering authority may postpone the time for 
        making its preliminary determination.
            ``(2) Length of postponement.--The preliminary 
        determination may be postponed under paragraph (1)(A) or (B) 
        until not later than the 190th day after--
                    ``(A) the date of delivery of the foreign like 
                vessel, if subsection (b)(1)(B) applies,
                    ``(B) the date of delivery of the subject vessel, 
                if subsection (b)(1)(C) applies, or
                    ``(C) the date on which the administering authority 
                initiates an investigation under section 802, in a case 
                in which subsection (b)(1)(D) applies.
            ``(3) Notice of postponement.--The administering authority 
        shall notify the parties to the investigation, not later than 
        20 days before the date on which the preliminary determination 
        would otherwise be required under subsection (b)(1), if it 
        intends to postpone making the preliminary determination under 
        paragraph (1). The notification shall include an explanation of 
        the reasons for the postponement, and notice of the 
        postponement shall be published in the Federal Register.
    ``(d) Effect of Determination by the Administering Authority.--If 
the preliminary determination of the administering authority under 
subsection (b) is affirmative, the administering authority shall--
            ``(1) determine an estimated injurious pricing margin, and
            ``(2) make available to the Commission all information upon 
        which its determination was based and which the Commission 
        considers relevant to its injury determination, under such 
        procedures as the administering authority and the Commission 
        may establish to prevent disclosure, other than with the 
        consent of the party providing it or under protective order, of 
        any information to which confidential treatment has been given 
        by the administering authority.
    ``(e) Notice of Determination.--Whenever the Commission or the 
administering authority makes a determination under this section, the 
Commission or the administering authority, as the case may be, shall 
notify the petitioner, and other parties to the investigation, and the 
Commission or the administering authority (whichever is appropriate) of 
its determination. The administering authority shall include with such 
notification the facts and conclusions on which its determination is 
based. Not later than 5 days after the date on which the determination 
is required to be made under subsection (a)(2), the Commission shall 
transmit to the administering authority the facts and conclusions on 
which its determination is based.

``SEC. 804. TERMINATION OR SUSPENSION OF INVESTIGATION.

    ``(a) Termination of Investigation Upon Withdrawal of Petition.--
            ``(1) In general.--Except as provided in paragraph (2), an 
        investigation under this subtitle may be terminated by either 
        the administering authority or the Commission, after notice to 
        all parties to the investigation, upon withdrawal of the 
        petition by the petitioner.
            ``(2) Limitation on termination by commission.--The 
        Commission may not terminate an investigation under paragraph 
        (1) before a preliminary determination is made by the 
        administering authority under section 803(b).
    ``(b) Termination of Investigations Initiated by Administering 
Authority.--The administering authority may terminate any investigation 
initiated by the administering authority under section 802(a) after 
providing notice of such termination to all parties to the 
investigation.
    ``(c) Alternate Equivalent Remedy.--The criteria set forth in 
subparagraphs (A) through (D) of section 806(e)(1) shall apply to any 
agreement that forms the basis for termination of an investigation 
under subsection (a) or (b).
    ``(d) Proceedings by WTO Members.--
            ``(1) Suspension of investigation.--The administering 
        authority and the Commission shall suspend an investigation 
        under this section if a WTO member that is not a Shipbuilding 
        Agreement Party initiates an antidumping proceeding described 
        in section 861(29)(A) with respect to the sale of the subject 
        vessel.
            ``(2) Termination of investigation.--If an antidumping 
        proceeding described in paragraph (1) is concluded by--
                    ``(A) the imposition of antidumping measures, or
                    ``(B) a negative determination with respect to 
                whether the sale is at less than fair value or with 
                respect to injury,
        the administering authority and the Commission shall terminate 
        the investigation under this section.
            ``(3) Continuation of investigation.--(A) If such a 
        proceeding--
                    ``(i) is concluded by a result other than a result 
                described in paragraph (2), or
                    ``(ii) is not concluded within one year from the 
                date of the initiation of the proceeding,
        then the administering authority and the Commission shall 
        terminate the suspension and continue the investigation. The 
        period in which the investigation was suspended shall not be 
        included in calculating deadlines applicable with respect to 
        the investigation.
            ``(B) Notwithstanding subparagraph (A)(ii), if the 
        proceeding is concluded by a result described in paragraph 
        (2)(A), the administering authority and the Commission shall 
        terminate the investigation under this section.

``SEC. 805. FINAL DETERMINATIONS.

    ``(a) Determinations by Administering Authority.--
            ``(1) In general.--Within 75 days after the date of its 
        preliminary determination under section 803(b), the 
        administering authority shall make a final determination of 
        whether the vessel which is the subject of the investigation 
        has been sold in the United States at less than its fair value.
            ``(2) Extension of period for determination.--(A) The 
        administering authority may postpone making the final 
        determination under paragraph (1) until not later than 290 days 
        after--
                    ``(i) the date of delivery of the foreign like 
                vessel, in an investigation to which section 
                803(b)(1)(B) applies,
                    ``(ii) the date of delivery of the subject vessel, 
                in an investigation to which section 803(b)(1)(C) 
                applies, or
                    ``(iii) the date on which the administering 
                authority initiates the investigation under section 
                802, in an investigation to which section 803(b)(1)(D) 
                applies.
            ``(B) The administering authority may apply subparagraph 
        (A) if a request in writing is made by--
                    ``(i) the producer of the subject vessel, in a 
                proceeding in which the preliminary determination by 
                the administering authority under section 803(b) was 
                affirmative, or
                    ``(ii) the petitioner, in a proceeding in which the 
                preliminary determination by the administering 
                authority under section 803(b) was negative.
            ``(3) De minimis injurious pricing margin.--In making a 
        determination under this subsection, the administering 
        authority shall disregard any injurious pricing margin that is 
        de minimis as defined in section 803(b)(2).
    ``(b) Final Determination by Commission.--
            ``(1) In general.--The Commission shall make a final 
        determination of whether--
                    ``(A) an industry in the United States--
                            ``(i) is or has been materially injured, or
                            ``(ii) is threatened with material injury, 
                        or
                    ``(B) the establishment of an industry in the 
                United States is or has been materially retarded,
        by reason of the sale of the vessel with respect to which the 
        administering authority has made an affirmative determination 
        under subsection (a)(1).
            ``(2) Period for injury determination following affirmative 
        preliminary determination by administering authority.--If the 
        preliminary determination by the administering authority under 
        section 803(b) is affirmative, then the Commission shall make 
        the determination required by paragraph (1) before the later 
        of--
                    ``(A) the 120th day after the day on which the 
                administering authority makes its affirmative 
                preliminary determination under section 803(b), or
                    ``(B) the 45th day after the day on which the 
                administering authority makes its affirmative final 
                determination under subsection (a).
            ``(3) Period for injury determination following negative 
        preliminary determination by administering authority.--If the 
        preliminary determination by the administering authority under 
        section 803(b) is negative, and its final determination under 
        subsection (a) is affirmative, then the final determination by 
        the Commission under this subsection shall be made within 75 
        days after the date of that affirmative final determination.
    ``(c) Effect of Final Determinations.--
            ``(1) Effect of affirmative determination by the 
        administering authority.--If the determination of the 
        administering authority under subsection (a) is affirmative, 
        then the administering authority shall--
                    ``(A) make available to the Commission all 
                information upon which such determination was based and 
                which the Commission considers relevant to its 
                determination, under such procedures as the 
                administering authority and the Commission may 
                establish to prevent disclosure, other than with the 
                consent of the party providing it or under protective 
                order, of any information to which confidential 
                treatment has been given by the administering 
                authority, and
                    ``(B) calculate an injurious pricing charge in an 
                amount equal to the amount by which the normal value 
                exceeds the export price of the subject vessel.
            ``(2) Issuance of order; effect of negative 
        determination.--If the determinations of the administering 
        authority and the Commission under subsections (a)(1) and 
        (b)(1) are affirmative, then the administering authority shall 
        issue an injurious pricing order under section 806. If either 
        of such determinations is negative, the investigation shall be 
        terminated upon the publication of notice of that negative 
        determination.
    ``(d) Publication of Notice of Determinations.--Whenever the 
administering authority or the Commission makes a determination under 
this section, it shall notify the petitioner, other parties to the 
investigation, and the other agency of its determination and of the 
facts and conclusions of law upon which the determination is based, and 
it shall publish notice of its determination in the Federal Register.
    ``(e) Correction of Ministerial Errors.--The administering 
authority shall establish procedures for the correction of ministerial 
errors in final determinations within a reasonable time after the 
determinations are issued under this section. Such procedures shall 
ensure opportunity for interested parties to present their views 
regarding any such errors. As used in this subsection, the term 
`ministerial error' includes errors in addition, subtraction, or other 
arithmetic function, clerical errors resulting from inaccurate copying, 
duplication, or the like, and any other type of unintentional error 
which the administering authority considers ministerial.

``SEC. 806. IMPOSITION AND COLLECTION OF INJURIOUS PRICING CHARGE.

    ``(a) In General.--Within 10 days after being notified by the 
Commission of an affirmative determination under section 805(b), the 
administering authority shall publish an order imposing an injurious 
pricing charge on the foreign producer of the subject vessel which--
            ``(1) directs the foreign producer of the subject vessel to 
        pay to the Secretary of the Treasury, or the designee of the 
        Secretary, within 180 days from the date of publication of the 
        order, an injurious pricing charge in an amount equal to the 
        amount by which the normal value exceeds the export price of 
        the subject vessel,
            ``(2) includes the identity and location of the foreign 
        producer and a description of the subject vessel, in such 
        detail as the administering authority deems necessary, and
            ``(3) informs the foreign producer that--
                    ``(A) failure to pay the injurious pricing charge 
                in a timely fashion may result in the imposition of 
                countermeasures with respect to that producer under 
                section 807,
                    ``(B) payment made after the deadline described in 
                paragraph (1) shall be subject to interest charges at 
                the Commercial Interest Reference Rate (CIRR), and
                    ``(C) the foreign producer may request an extension 
                of the due date for payment under subsection (b).
    ``(b) Extension of Due Date for Payment in Extraordinary 
Circumstances.--
            ``(1) Extension.--Upon request, the administering authority 
        may amend the order under subsection (a) to set a due date for 
        payment or payments later than the date that is 180 days from 
        the date of publication of the order, if the administering 
        authority determines that full payment in 180 days would render 
        the producer insolvent or would be incompatible with a 
        judicially supervised reorganization. When an extended payment 
        schedule provides for a series of partial payments, the 
        administering authority shall specify the circumstances under 
        which default on one or more payments will result in the 
        imposition of countermeasures.
            ``(2) Interest charges.--If a request is granted under 
        paragraph (1), payments made after the date that is 180 days 
        from the publication of the order shall be subject to interest 
        charges at the CIRR.
    ``(c) Notification of Order.--The administering authority shall 
deliver a copy of the order requesting payment to the foreign producer 
of the subject vessel and to an appropriate representative of the 
government of the exporting country.
    ``(d) Revocation of Order.--The administering authority--
            ``(1) may revoke an injurious pricing order if the 
        administering authority determines that producers accounting 
        for substantially all of the capacity to produce a domestic 
        like vessel have expressed a lack of interest in the order, and
            ``(2) shall revoke an injurious pricing order--
                    ``(A) if the sale of the vessel that was the 
                subject of the injurious pricing determination is 
                voided,
                    ``(B) if the injurious pricing charge is paid in 
                full, including any interest accrued for late payment,
                    ``(C) upon full implementation of an alternative 
                equivalent remedy described in subsection (e), or
                    ``(D) if, with respect to the vessel sale that was 
                at issue in the investigation that resulted in the 
                injurious pricing order, an antidumping proceeding 
                conducted by a WTO member who is not a Shipbuilding 
                Agreement Party has been completed and resulted in the 
                imposition of antidumping measures.
    ``(e) Alternative Equivalent Remedy.--
            ``(1) Agreement for alternate remedy.--The administering 
        authority may suspend an injurious pricing order if the 
        administering authority enters into an agreement with the 
        foreign producer subject to the order on an alternative 
        equivalent remedy, that the administering authority 
        determines--
                    ``(A) is at least as effective a remedy as the 
                injurious pricing charge,
                    ``(B) is in the public interest,
                    ``(C) can be effectively monitored and enforced, 
                and
                    ``(D) is otherwise consistent with the domestic law 
                and international obligations of the United States.
            ``(2) Prior consultations and submission of comments.--
        Before entering into an agreement under paragraph (1), the 
        administering authority shall consult with the industry, and 
        provide for the submission of comments by interested parties, 
        with respect to the agreement.
            ``(3) Material violations of agreement.--If the injurious 
        pricing order has been suspended under paragraph (1), and the 
        administering authority determines that the foreign producer 
        concerned has materially violated the terms of the agreement 
        under paragraph (1), the administering authority shall 
        terminate the suspension.

``SEC. 807. IMPOSITION OF COUNTERMEASURES.

    ``(a) General Rule.--
            ``(1) Issuance of order imposing countermeasures.--Unless 
        an injurious pricing order is revoked or suspended under 
        section 806 (d) or (e), the administering authority shall issue 
        an order imposing countermeasures.
            ``(2) Contents of order.--The countermeasure order shall--
                    ``(A) state that, as provided in section 468, a 
                permit to lade or unlade passengers or merchandise may 
                not be issued with respect to vessels contracted to be 
                built by the foreign producer of the vessel with 
                respect to which an injurious pricing order was issued 
                under section 806, and
                    ``(B) specify the scope and duration of the 
                prohibition on the issuance of a permit to lade or 
                unlade passengers or merchandise.
    ``(b) Notice of Intent To Impose Countermeasures.--
            ``(1) General rule.--The administering authority shall 
        issue a notice of intent to impose countermeasures not later 
        than 30 days before the expiration of the time for payment 
        specified in the injurious pricing order (or extended payment 
        provided for under section 806(b)), and shall publish the 
        notice in the Federal Register within 7 days after issuing the 
        notice.
            ``(2) Elements of the notice of intent.--The notice of 
        intent shall contain at least the following elements:
                    ``(A) Scope.--A permit to lade or unlade passengers 
                or merchandise may not be issued with respect to any 
                vessel--
                            ``(i) built by the foreign producer subject 
                        to the proposed countermeasures, and
                            ``(ii) with respect to which the material 
                        terms of sale are established within a period 
                        of 4 consecutive years beginning on the date 
                        that is 30 days after publication in the Fedeal 
                        Register of the notice of intent described in 
                        paragraph (1).
                    ``(B) Duration.--For each vessel described in 
                subparagraph (A), a permit to lade or unlade passengers 
                or merchandise may not be issued for a period of 4 
                years after the date of delivery of the vessel.
    ``(c) Determination To Impose Countermeasures; Order.--
            ``(1) General rule.--The administering authority shall, 
        within the time specified in paragraph (2), issue a 
        determination and order imposing countermeasures.
            ``(2) Time for determination.--The determination shall be 
        issued within 90 days after the date on which the notice of 
        intent to impose countermeasures under subsection (b) is 
        published in the Federal Register. The administering authority 
        shall publish the determination, and the order described in 
        paragraph (4), in the Federal Register within 7 days after 
        issuing the final determination, and shall provide a copy of 
        the determination and order to the Customs Service.
            ``(3) Content of the determination.--In the determination 
        imposing countermeasures, the administering authority shall 
        determine whether, in light of all of the circumstances, an 
        interested party has demonstrated that the scope or duration of 
        the countermeasures described in subsection (b)(2) should be 
        narrower or shorter than the scope or duration set forth in the 
        notice of intent to impose countermeasures.
            ``(4) Order.--At the same time it issues its determination, 
        the administering authority shall issue an order imposing 
        countermeasures, consistent with its determination.
    ``(d) Administrative Review of Determination To Impose 
Countermeasures.--
            ``(1) Request for review.--Each year, in the anniversary 
        month of the issuance of the order imposing countermeasures 
        under subsection (c), the administering authority shall publish 
        in the Federal Register a notice providing that interested 
        parties may request--
                    ``(A) a review of the scope or duration of the 
                countermeasures determined under subsection (c)(3), and
                    ``(B) a hearing in connection with such a review.
            ``(2) Review.--If a proper request has been received under 
        paragraph (1), the administering authority shall--
                    ``(A) publish notice of initiation of a review in 
                the Federal Register not later than 15 days after the 
                end of the anniversary month of the issuance of the 
                order imposing countermeasures, and
                    ``(B) review and determine whether the requesting 
                party has demonstrated that the scope or duration of 
                the countermeasures is excessive in light of all of the 
                circumstances.
            ``(3) Time for review.--The administering authority shall 
        make its determination under paragraph (2)(B) within 90 days 
        after the date on which the notice of initiation of the review 
        is published. If the determination under paragraph (2)(B) is 
        affirmative, the administering authority shall amend the order 
        accordingly. The administering authority shall promptly publish 
        the determination and any amendment to the order in the Federal 
        Register, and shall provide a copy of any amended order to the 
        Customs Service. In extraordinary circumstances, the 
        administering authority may extend the time for its 
        determination under paragraph (2)(B) to not later than 150 days 
after the date on which the notice of initiation of the review is 
published.
    ``(e) Extension of Countermeasures.--
            ``(1) Request for extension.--Within the time described in 
        paragraph (2), an interested party may file with the 
        administering authority a request that the scope or duration of 
        countermeasures be extended.
            ``(2) Deadline for request for extension.--
                    ``(A) Request for extension beyond 4 years.--If the 
                request seeks an extension that would cause the scope 
                or duration of countermeasures to exceed 4 years, 
                including any prior extensions, the request for 
                extension under paragraph (1) shall be filed not 
                earlier than the date that is 15 months, and not later 
                than the date that is 12 months, before the date that 
                marks the end of the period that specifies the vessels 
                that fall within the scope of the order by virtue of 
                the establishment of material terms of sale within that 
                period.
                    ``(B) Other requests.--If the request seeks an 
                extension under paragraph (1) other than one described 
                in subparagraph (A), the request shall be filed not 
                earlier than the date that is 6 months, and not later 
                than a date that is 3 months, before the date that 
                marks the end of the period referred to in subparagraph 
                (A).
            ``(3) Determination.--
                    ``(A) Notice of request for extension.--If a proper 
                request has been received under paragraph (1), the 
                administering authority shall publish notice of 
                initiation of an extension proceeding in the Federal 
                Register not later than 15 days after the applicable 
                deadline in paragraph (2) for requesting the extension.
                    ``(B) Procedures.--
                            ``(i) Requests for extension beyond 4 
                        years.--If paragraph (2)(A) applies to the 
                        request, the administering authority shall 
                        consult with the Trade Representative under 
                        paragraph (4).
                            ``(ii) Other requests.--If paragraph (2)(B) 
                        applies to the request, the administering 
                        authority shall determine, within 90 days after 
                        the date on which the notice of initiation of 
                        the proceeding is published, whether the 
                        requesting party has demonstrated that the 
                        scope or duration of the countermeasures is 
                        inadequate in light of all of the 
                        circumstances. If the administering authority 
                        determines that an extension is warranted, it 
                        shall amend the countermeasure order 
                        accordingly. The administering authority shall 
                        promptly publish the determination and any 
                        amendment to the order in the Federal Register, 
                        and shall provide a copy of any amended order 
                        to the Customs Service.
            ``(4) Consultation with trade representative.--If paragraph 
        (3)(B)(i) applies, the administering authority shall consult 
        with the Trade Representative concerning whether it would be 
        appropriate to request establishment of a dispute settlement 
        panel under the Shipbuilding Agreement for the purpose of 
        seeking authorization to extend the scope or duration of 
        countermeasures for a period in excess of 4 years.
            ``(5) Decision not to request panel.--If, based on 
        consultations under paragraph (4), the Trade Representative 
        decides not to request establishment of a panel, the Trade 
        Representative shall inform the party requesting the extension 
        of the countermeasures of the reasons for its decision in 
        writing. The decision shall not be subject to judicial review.
            ``(6) Panel proceedings.--If, based on consultations under 
        paragraph (4), the Trade Representative requests the 
        establishment of a panel under the Shipbuilding Agreement to 
        authorize an extension of the period of countermeasures, and 
        the panel authorizes such an extension, the administering 
        authority shall promptly amend the countermeasure order. The 
        administering authority shall publish notice of the amendment 
        in the Federal Register.
    ``(f) List of Vessels Subject to Countermeasures.--
            ``(1) General rule.--At least once during each 12-month 
        period beginning on the anniversary date of a determination to 
        impose countermeasures under this section, the administering 
        authority shall publish in the Federal Register a list of all 
        delivered vessels subject to countermeasures under the 
        determination.
            ``(2) Content of list.--The list under paragraph (1) shall 
        include the following information for each vessel, to the 
        extent the information is available:
                    ``(A) The name and general description of the 
                vessel.
                    ``(B) The vessel identification number.
                    ``(C) The shipyard where the vessel was 
                constructed.
                    ``(D) The last-known registry of the vessel.
                    ``(E) The name and address of the last-known owner 
                of the vessel.
                    ``(F) The delivery date of the vessel.
                    ``(G) The remaining duration of countermeasures on 
                the vessel.
                    ``(H) Any other identifying information available.
            ``(3) Amendment of list.---The administering authority may 
        amend the list from time to time to reflect new information 
        that comes to its attention and shall publish any amendments in 
        the Federal Register.
            ``(4) Service of list and amendments.--(A) The 
        administering authority shall serve a copy of the list 
        described in paragraph (1) on--
                    ``(i) the petitioner under section 802(b),
                    ``(ii) the United States Customs Service,
                    ``(iii) the Secretariat of the Organization for 
                Economic Cooperation and Development,
                    ``(iv) the owners of vessels on the list,
                    ``(v) the shipyards on the list, and
                    ``(vi) the government of the country in which a 
                shipyard on the list is located.
            ``(B) The administering authority shall serve a copy of any 
        amendments to the list under paragraph (3) or subsection (g)(3) 
        on--
                    ``(i) the parties listed in clauses (i), (ii), and 
                (iii) of subparagraph (A), and,
                    ``(ii) if the amendment affects their interests, 
                the parties listed in clauses (iv), (v), and (vi) of 
                subparagraph (A).
    ``(g) Administrative Review of List of Vessels Subject to 
Countermeasures.--
            ``(1) Request for review.--(A) An interested party may 
        request in writing a review of the list described in subsection 
        (f)(1), including any amendments thereto, to determine 
        whether--
                    ``(i) a vessel included in the list does not fall 
                within the scope of the applicable countermeasure order 
                and should be deleted, or
                    ``(ii) a vessel not included in the list falls 
                within the scope of the applicable countermeasure order 
                and should be added.
            ``(B) Any request seeking a determination described in 
        subparagraph (A)(i) shall be made within 90 days after the date 
        of publication of the applicable list.
            ``(2) Review.--If a proper request for review has been 
        received, the administering authority shall--
                    ``(A) publish notice of initiation of a review in 
                the Federal Register--
                            ``(i) not later than 15 days after the 
                        request is received, or
                            ``(ii) if the request seeks a determination 
                        described in paragraph (1)(A)(i), not later 
                        than 15 days after the deadline described in 
                        paragraph (1)(B), and
                    ``(B) review and determine whether the requesting 
                party has demonstrated that--
                            ``(i) a vessel included in the list does 
                        not qualify for such inclusion, or
                            ``(ii) a vessel not included in the list 
                        qualifies for inclusion.
            ``(3) Time for determination.--The administering authority 
        shall make its determination under paragraph (2)(B) within 90 
        days after the date on which the notice of initiation of such 
        review is published. If the administering authority determines 
        that a vessel should be added or deleted from the list, the 
        administering authority shall amend the list accordingly. The 
        administering authority shall promptly publish in the Federal 
        Register the determination and any such amendment to the list.
    ``(h) Expiration of Countermeasures.--Upon expiration of a 
countermeasure order imposed under this section, the administering 
authority shall promptly publish a notice of the expiration in the 
Federal Register.
    ``(i) Suspension or Termination of Proceedings or Countermeasures; 
Temporary Reduction of Countermeasures.--
            ``(1) If injurious pricing order revoked or suspended.--If 
        an injurious pricing order has been revoked or suspended under 
        section 806(d) or (e), the administering authority shall, as 
        appropriate, suspend or terminate proceedings under this 
        section with respect to that order, or suspend or revoke a 
        countermeasure order issued with respect to that injurious 
        pricing order.
            ``(2) If payment date amended.--(A) Subject to subparagraph 
        (C), if the payment date under an injurious pricing order is 
        amended under section 845, the administering authority shall, 
        as appropriate, suspend proceedings or modify deadlines under 
        this section, or suspend or amend a countermeasure order issued 
        with respect to that injurious pricing order.
            ``(B) In taking action under subparagraph (A), the 
        administering authority shall ensure that countermeasures are 
        not applied before the date that is 30 days after publication 
        in the Federal Register of the amended payment date.
            ``(C) If--
                    ``(i) a countermeasure order is issued under 
                subsection (c) before an amendment is made under 
                section 845 to the payment date of the injurious 
                pricing order to which the countermeasure order 
                applies, and
                    ``(ii) the administering authority determines that 
                the period of time between the original payment date 
                and the amended payment date is significant for 
                purposes of determining the appropriate scope or 
                duration of countermeasures,
        the administering authority may, in lieu of acting under 
        subparagraph (A), reinstitute proceedings under subsection (c) 
        for purposes of issuing a new determination under that 
        subsection.
    ``(j) Comment and Hearing.--In the course of any proceeding under 
subsection (c), (d), (e), or (g), the administering authority--
            ``(1) shall solicit comments from interested parties, and
            ``(2)(A) in a proceeding under subsection (c) or (d), upon 
        the request of an interested party, shall hold a hearing in 
        accordance with section 841(b) in connection with that 
        proceeding, or
            ``(B) in a proceeding under subsection (e) or (g), upon the 
        request of an interested party, may hold a hearing in 
        accordance with section 841(b) in connection with that 
        proceeding.

``SEC. 808. INJURIOUS PRICING PETITIONS BY THIRD COUNTRIES.

    ``(a) Filing of Petition.--The government of a Shipbuilding 
Agreement Party may file with the Trade Representative a petition 
requesting that an investigation be conducted to determine if--
            ``(1) a vessel from another Shipbuilding Agreement Party 
        has been sold in the United States at less than fair value, and
            ``(2) an industry, in the petitioning country, producing or 
        capable of producing a like vessel is materially injured by 
        reason of such sale.
    ``(b) Initiation.--The Trade Representative, after consultation 
with the administering authority and the Commission and obtaining the 
approval of the Parties Group under the Shipbuilding Agreement, shall 
determine whether to initiate an investigation described in subsection 
(a).
    ``(c) Determinations.--Upon initiation of an investigation under 
subsection (a), the Trade Representative shall request the following 
determinations be made in accordance with substantive and procedural 
requirements specified by the Trade Representative, notwithstanding any 
other provision of this title:
            ``(1) The administering authority shall determine whether 
        the subject vessel has been sold at less than fair value.
            ``(2) The Commission shall determine whether an industry in 
        the petitioning country is materially injured by reason of the 
        sale of the subject vessel in the United States.
    ``(d) Public Comment.--An opportunity for public comment shall be 
provided, as appropriate--
            ``(1) by the Trade Representative, in making the 
        determinations required by subsection (b), and
            ``(2) by the administering authority and the Commission, in 
        making the determinations required by subsection (c).
    ``(e) Issuance of Order.--If the administering authority makes an 
affirmative determination under paragraph (1) of subsection (c), and 
the Commission makes an affirmative determination under paragraph (2) 
of subsection (c), the administering authority shall--
            ``(1) order an injurious pricing charge in accordance with 
        section 806, and
            ``(2) make such determinations and take such other actions 
        as are required by sections 806 and 807, as if affirmative 
        determinations had been made under subsections (a) and (b) of 
        section 805.
    ``(f) Reviews of Determinations.--For purposes of review under 
section 516B, if an order is issued under subsection (e)--
            ``(1) the final determinations of the administering 
        authority and the Commission under subsection (c) shall be 
        treated as final determinations made under section 805, and
            ``(2) determinations of the administering authority under 
        subsection (e)(2) shall be treated as determinations made under 
        section 806 or 807, as the case may be.
    ``(g) Access to Information.--Section 843 shall apply to 
investigations under this section, to the extent specified by the Trade 
Representative, after consultation with the administering authority and 
the Commission.

                      ``Subtitle B--Special Rules

``SEC. 821. EXPORT PRICE.

    ``(a) Export Price.--For purposes of this title, the term `export 
price' means the price at which the subject vessel is first sold (or 
agreed to be sold) by or for the account of the foreign producer of the 
subject vessel to an unaffiliated United States buyer. The term `sold 
(or agreed to be sold) by or for the account of the foreign producer' 
includes any transfer of an ownership interest, including by way of 
lease or long-term bareboat charter, in conjunction with the original 
transfer from the producer, either directly or indirectly, to a United 
States buyer.
    ``(b) Adjustments to Export Price.--The price used to establish 
export price shall be--
            ``(1) increased by the amount of any import duties imposed 
        by the country of exportation which have been rebated, or which 
        have not been collected, by reason of the exportation of the 
        subject vessel, and
            ``(2) reduced by--
                    ``(A) the amount, if any, included in such price, 
                attributable to any additional costs, charges, or 
                expenses which are incident to bringing the subject 
                vessel from the shipyard in the exporting country to 
                the place of delivery,
                    ``(B) the amount, if included in such price, of any 
                export tax, duty, or other charge imposed by the 
                exporting country on the exportation of the subject 
                vessel, and
                    ``(C) all other expenses incidental to placing the 
                vessel in condition for delivery to the buyer.

``SEC. 822. NORMAL VALUE.

    ``(a) Determination.--In determining under this title whether a 
subject vessel has been sold at less than fair value, a fair comparison 
shall be made between the export price and normal value of the subject 
vessel. In order to achieve a fair comparison with the export price, 
normal value shall be determined as follows:
            ``(1) Determination of normal value.--
                    ``(A) In general.--The normal value of the subject 
                vessel shall be the price described in subparagraph 
                (B), at a time reasonably corresponding to the time of 
                the sale used to determine the export price under 
                section 821(a).
                    ``(B) Price.--The price referred to in subparagraph 
                (A) is--
                            ``(i) the price at which a foreign like 
                        vessel is first sold in the exporting country, 
                        in the ordinary course of trade and, to the 
                        extent practicable, at the same level of trade, 
                        or
                            ``(ii) in a case to which subparagraph (C) 
                        applies, the price at which a foreign like 
                        vessel is so sold for consumption in a country 
                        other than the exporting country or the United 
                        States, if--
                                    ``(I) such price is representative, 
                                and
                                    ``(II) the administering authority 
                                does not determine that the particular 
                                market situation in such other country 
                                prevents a proper comparison with the 
                                export price.
                    ``(C) Third country sales.--This subparagraph 
                applies when--
                            ``(i) a foreign like vessel is not sold in 
                        the exporting country as described in 
                        subparagraph (B)(i), or
                            ``(ii) the particular market situation in 
                        the exporting country does not permit a proper 
                        comparison with the export price.
                    ``(D) Contemporaneous sale.--For purposes of 
                subparagraph (A), `a time reasonably corresponding to 
                the time of the sale' means within 3 months before or 
                after the sale of the subject vessel or, in the absence 
                of such sales, such longer period as the administering 
                authority determines would be appropriate.
            ``(2) Fictitious markets.--No pretended sale, and no sale 
        intended to establish a fictitious market, shall be taken into 
        account in determining normal value.
            ``(3) Use of constructed value.--If the administering 
        authority determines that the normal value of the subject 
        vessel cannot be determined under paragraph (1)(B) or (1)(C), 
        then the normal value of the subject vessel shall be the 
        constructed value of that vessel, as determined under 
        subsection (e).
            ``(4) Indirect sales.--If a foreign like vessel is sold 
        through an affiliated party, the price at which the foreign 
        like vessel is sold by such affiliated party may be used in 
        determining normal value.
            ``(5) Adjustments.--The price described in paragraph (1)(B) 
        shall be--
                    ``(A) reduced by--
                            ``(i) the amount, if any, included in the 
                        price described in paragraph (1)(B), 
                        attributable to any costs, charges, and 
                        expenses incident to bringing the foreign like 
                        vessel from the shipyard to the place of 
                        delivery to the purchaser,
                            ``(ii) the amount of any taxes imposed 
                        directly upon the foreign like vessel or 
                        components thereof which have been rebated, or 
                        which have not been collected, on the subject 
                        vessel, but only to the extent that such taxes 
                        are added to or included in the price of the 
                        foreign like vessel, and
                            ``(iii) the amount of all other expenses 
                        incidental to placing the foreign like vessel 
                        in condition for delivery to the buyer, and
                    ``(B) increased or decreased by the amount of any 
                difference (or lack thereof) between the export price 
                and the price described in paragraph (1)(B) (other than 
                a difference for which allowance is otherwise provided 
                under this section) that is established to the 
                satisfaction of the administering authority to be 
                wholly or partly due to--
                            ``(i) physical differences between the 
                        subject vessel and the vessel used in 
                        determining normal value, or
                            ``(ii) other differences in the 
                        circumstances of sale.
            ``(6) Adjustments for level of trade.--The price described 
        in paragraph (1)(B) shall also be increased or decreased to 
        make due allowance for any difference (or lack thereof) between 
        the export price and the price described in paragraph (1)(B) 
        (other than a difference for which allowance is otherwise made 
        under this section) that is shown to be wholly or partly due to 
        a difference in level of trade between the export price and 
        normal value, if the difference in level of trade--
                    ``(A) involves the performance of different selling 
                activities, and
                    ``(B) is demonstrated to affect price 
                comparability, based on a pattern of consistent price 
                differences between sales at different levels of trade 
                in the country in which normal value is determined.
        In a case described in the preceding sentence, the amount of 
        the adjustment shall be based on the price differences between 
        the two levels of trade in the country in which normal value is 
        determined.
            ``(7) Adjustments to constructed value.--Constructed value 
        as determined under subsection (d) may be adjusted, as 
        appropriate, pursuant to this subsection.
    ``(b) Sales at Less Than Cost of Production.--
            ``(1) Determination; sales disregarded.--Whenever the 
        administering authority has reasonable grounds to believe or 
        suspect that the sale of the foreign like vessel under 
        consideration for the determination of normal value has been 
        made at a price which represents less than the cost of 
        production of the foreign like vessel, the administering 
        authority shall determine whether, in fact, such sale was made 
        at less than the cost of production. If the administering 
        authority determines that the sale was made at less than the 
        cost of production and was not at a price which permits 
        recovery of all costs within 5 years, such sale may be 
        disregarded in the determination of normal value. Whenever such 
        a sale is disregarded, normal value shall be based on another 
        sale of a foreign like vessel in the ordinary course of trade. 
        If no sales made in the ordinary course of trade remain, the 
        normal value shall be based on the constructed value of the 
        subject vessel.
            ``(2) Definitions and special rules.--For purposes of this 
        subsection:
                    ``(A) Reasonable grounds to believe or suspect.--
                There are reasonable grounds to believe or suspect that 
                the sale of a foreign like vessel was made at a price 
                that is less than the cost of production of the vessel, 
                if an interested party described in subparagraph (C), 
                (D), (E), or (F) of section 861(17) provides 
                information, based upon observed prices or constructed 
                prices or costs, that the sale of the foreign like 
                vessel under consideration for the determination of 
                normal value has been made at a price which represents 
                less than the cost of production of the vessel.
                    ``(B) Recovery of costs.--If the price is below the 
                cost of production at the time of sale but is above the 
                weighted average cost of production for the period of 
                investigation, such price shall be considered to 
                provide for recovery of costs within 5 years.
            ``(3) Calculation of cost of production.--For purposes of 
        this section, the cost of production shall be an amount equal 
        to the sum of--
                    ``(A) the cost of materials and of fabrication or 
                other processing of any kind employed in producing the 
                foreign like vessel, during a period which would 
                ordinarily permit the production of that vessel in the 
                ordinary course of business, and
                    ``(B) an amount for selling, general, and 
                administrative expenses based on actual data pertaining 
                to the production and sale of the foreign like vessel 
                by the producer in question.
        For purposes of subparagraph (A), if the normal value is based 
        on the price of the foreign like vessel sold in a country other 
        than the exporting country, the cost of materials shall be 
        determined without regard to any internal tax in the exporting 
        country imposed on such materials or on their disposition which 
        are remitted or refunded upon exportation.
    ``(c) Nonmarket Economy Countries.--
            ``(1) In general.--If--
                    ``(A) the subject vessel is produced in a nonmarket 
                economy country, and
                    ``(B) the administering authority finds that 
                available information does not permit the normal value 
                of the subject vessel to be determined under subsection 
                (a),
        the administering authority shall determine the normal value of 
        the subject vessel on the basis of the value of the factors of 
        production utilized in producing the vessel and to which shall 
        be added an amount for general expenses and profit plus the 
        cost of expenses incidental to placing the vessel in a 
        condition for delivery to the buyer. Except as provided in 
        paragraph (2), the valuation of the factors of production shall 
        be based on the best available information regarding the values 
        of such factors in a market economy country or countries 
        considered to be appropriate by the administering authority.
            ``(2) Exception.--If the administering authority finds that 
        the available information is inadequate for purposes of 
        determining the normal value of the subject vessel under 
        paragraph (1), the administering authority shall determine the 
        normal value on the basis of the price at which a vessel that 
        is--
                    ``(A) comparable to the subject vessel, and
                    ``(B) produced in one or more market economy 
                countries that are at a level of economic development 
                comparable to that of the nonmarket economy country,
        is sold in other countries, including the United States.
            ``(3) Factors of production.--For purposes of paragraph 
        (1), the factors of production utilized in producing the vessel 
        include, but are not limited to--
                    ``(A) hours of labor required,
                    ``(B) quantities of raw materials employed,
                    ``(C) amounts of energy and other utilities 
                consumed, and
                    ``(D) representative capital cost, including 
                depreciation.
            ``(4) Valuation of factors of production.--The 
        administering authority, in valuing factors of production under 
        paragraph (1), shall utilize, to the extent possible, the 
        prices or costs of factors of production in one or more market 
        economy countries that are--
                    ``(A) at a level of economic development comparable 
                to that of the nonmarket economy country, and
                    ``(B) significant producers of comparable vessels.
    ``(d) Special Rule for Certain Multinational Corporations.--
Whenever, in the course of an investigation under this title, the 
administering authority determines that--
            ``(1) the subject vessel was produced in facilities which 
        are owned or controlled, directly or indirectly, by a person, 
        firm, or corporation which also owns or controls, directly or 
        indirectly, other facilities for the production of a foreign 
        like vessel which are located in another country or countries,
            ``(2) subsection (a)(1)(C) applies, and
            ``(3) the normal value of a foreign like vessel produced in 
        one or more of the facilities outside the exporting country is 
        higher than the normal value of the foreign like vessel 
        produced in the facilities located in the exporting country,
the administering authority shall determine the normal value of the 
subject vessel by reference to the normal value at which a foreign like 
vessel is sold from one or more facilities outside the exporting 
country. The administering authority, in making any determination under 
this subsection, shall make adjustments for the difference between the 
costs of production (including taxes, labor, materials, and overhead) 
of the foreign like vessel produced in facilities outside the exporting 
country and costs of production of the foreign like vessel produced in 
facilities in the exporting country, if such differences are 
demonstrated to its satisfaction.
    ``(e) Constructed Value.--
            ``(1) In general.--For purposes of this title, the 
        constructed value of a subject vessel shall be an amount equal 
        to the sum of--
                    ``(A) the cost of materials and fabrication or 
                other processing of any kind employed in producing the 
                subject vessel, during a period which would ordinarily 
                permit the production of the vessel in the ordinary 
                course of business, and
                    ``(B)(i) the actual amounts incurred and realized 
                by the foreign producer of the subject vessel for 
                selling, general, and administrative expenses, and for 
                profits, in connection with the production and sale of 
                a foreign like vessel, in the ordinary course of trade, 
                in the domestic market of the country of origin of the 
                subject vessel, or
                    ``(ii) if actual data are not available with 
                respect to the amounts described in clause (i), then--
                            ``(I) the actual amounts incurred and 
                        realized by the foreign producer of the subject 
                        vessel for selling, general, and administrative 
                        expenses, and for profits, in connection with 
                        the production and sale of the same general 
                        category of vessel in the domestic market of 
                        the country of origin of the subject vessel,
                            ``(II) the weighted average of the actual 
                        amounts incurred and realized by producers in 
                        the country of origin of the subject vessel 
                        (other than the producer of the subject vessel) 
                        for selling, general, and administrative 
                        expenses, and for profits, in connection with 
                        the production and sale of a foreign like 
                        vessel, in the ordinary course of trade, in the 
                        domestic market, or
                            ``(III) if data is not available under 
                        subclause (I) or (II), the amounts incurred and 
                        realized for selling, general, and 
                        administrative expenses, and for profits, based 
                        on any other reasonable method, except that the 
                        amount allowed for profit may not exceed the 
                        amount normally realized by foreign producers 
                        (other than the producer of the subject vessel) 
                        in connection with the sale of vessels in the 
                        same general category of vessel as the subject 
                        vessel in the domestic market of the country of 
                        origin of the subject vessel.
        The profit shall, for purposes of this paragraph, be based on 
        the average profit realized over a reasonable period of time 
        before and after the sale of the subject vessel and shall 
        reflect a reasonable profit at the time of such sale. For 
        purposes of the preceding sentence, a `reasonable period of 
        time' shall not, except where otherwise appropriate, exceed 6 
        months before, or 6 months after, the sale of the subject 
        vessel. In calculating profit under this paragraph, any 
        distortion which would result in other than a profit which is 
        reasonable at the time of the sale shall be eliminated.
            ``(2) Costs and profits based on other reasonable 
        methods.--When costs and profits are determined under paragraph 
        (1)(B)(ii)(III), such determination shall, except where 
        otherwise appropriate, be based on appropriate export sales by 
        the producer of the subject vessel or, absent such sales, to 
        export sales by other producers of a foreign like vessel or the 
        same general category of vessel as the subject vessel in the 
        country of origin of the subject vessel.
            ``(3) Costs of materials.--For purposes of paragraph 
        (1)(A), the cost of materials shall be determined without 
        regard to any internal tax in the exporting country imposed on 
        such materials or their disposition which are remitted or 
        refunded upon exportation of the subject vessel produced from 
        such materials.
    ``(f) Special Rules for Calculation of Cost of Production and for 
Calculation of Constructed Value.--For purposes of subsections (b) and 
(e)--
            ``(1) Costs.--
                    ``(A) In general.--Costs shall normally be 
                calculated based on the records of the foreign producer 
                of the subject vessel, if such records are kept in 
                accordance with the generally accepted accounting 
                principles of the exporting country and reasonably 
                reflect the costs associated with the production and 
                sale of the vessel. The administering authority shall 
                consider all available evidence on proper allocation of 
                costs, including that which is made available by the 
                foreign producer on a timely basis, if such allocations 
                have been historically used by the foreign producer, in 
                particular for establishing appropriate amortization 
                and depreciation periods, and allowances for capital 
                expenditures and other development costs.
                    ``(B) Nonrecurring costs.--Costs shall be adjusted 
                appropriately for those nonrecurring costs that benefit 
                current or future production, or both.
                    ``(C) Startup costs.--
                            ``(i) In general.--Costs shall be adjusted 
                        appropriately for circumstances in which costs 
                        incurred during the time period covered by the 
                        investigation are affected by startup 
                        operations.
                            ``(ii) Startup operations.--Adjustments 
                        shall be made for startup operations only 
                        where--
                                    ``(I) a producer is using new 
                                production facilities or producing a 
                                new type of vessel that requires 
                                substantial additional investment, and
                                    ``(II) production levels are 
                                limited by technical factors associated 
                                with the initial phase of commercial 
                                production.
                        For purposes of subclause (II), the initial 
                        phase of commercial production ends at the end 
                        of the startup period. In determining whether 
                        commercial production levels have been 
                        achieved, the administering authority shall 
                        consider factors unrelated to startup 
                        operations that might affect the volume of 
                        production processed, such as demand, 
                        seasonality, or business cycles.
                            ``(iii) Adjustment for startup 
                        operations.--The adjustment for startup 
                        operations shall be made by substituting the 
                        unit production costs incurred with respect to 
                        the vessel at the end of the startup period for 
                        the unit production costs incurred during the 
                        startup period. If the startup period extends 
                        beyond the period of the investigation under 
                        this title, the administering authority shall 
                        use the most recent cost of production data 
                        that it reasonably can obtain, analyze, and 
                        verify without delaying the timely completion 
                        of the investigation. For purposes of this 
                        subparagraph, the startup period ends at the 
                        point at which the level of commercial 
                        production that is characteristic of the 
                        vessel, the producer, or the industry is 
                        achieved.
                    ``(D) Costs due to extraordinary circumstances not 
                included.--Costs shall not include actual costs which 
                are due to extraordinary circumstances (including, but 
                not limited to, labor disputes, fire, and natural 
                disasters) and which are significantly over the cost 
                increase which the shipbuilder could have reasonably 
                anticipated and taken into account at the time of sale.
            ``(2) Transactions disregarded.--A transaction directly or 
        indirectly between affiliated persons may be disregarded if, in 
        the case of any element of value required to be considered, the 
        amount representing that element does not fairly reflect the 
        amount usually reflected in sales of a like vessel in the 
        market under consideration. If a transaction is disregarded 
        under the preceding sentence and no other transactions are 
        available for consideration, the determination of the amount 
        shall be based on the information available as to what the 
        amount would have been if the transaction had occurred between 
        persons who are not affiliated.
            ``(3) Major input rule.--If, in the case of a transaction 
        between affiliated persons involving the production by one of 
        such persons of a major input to the subject vessel, the 
        administering authority has reasonable grounds to believe or 
        suspect that an amount represented as the value of such input 
        is less than the cost of production of such input, then the 
        administering authority may determine the value of the major 
        input on the basis of the information available regarding such 
        cost of production, if such cost is greater than the amount 
        that would be determined for such input under paragraph (2).

``SEC. 823. CURRENCY CONVERSION.

    ``(a) In General.--In an injurious pricing proceeding under this 
title, the administering authority shall convert foreign currencies 
into United States dollars using the exchange rate in effect on the 
date of sale of the subject vessel, except that if it is established 
that a currency transaction on forward markets is directly linked to a 
sale under consideration, the exchange rate specified with respect to 
such foreign currency in the forward sale agreement shall be used to 
convert the foreign currency.
    ``(b) Date of Sale.--For purposes of this section, `date of sale' 
means the date of the contract of sale or, where appropriate, the date 
on which the material terms of sale are otherwise established. If the 
material terms of sale are significantly changed after such date, the 
date of sale is the date of such change. In the case of such a change 
in the date of sale, the administering authority shall make appropriate 
adjustments to take into account any unreasonable effect on the 
injurious pricing margin due only to fluctuations in the exchange rate 
between the original date of sale and the new date of sale.

                        ``Subtitle C--Procedures

``SEC. 841. HEARINGS.

    ``(a) Upon Request.--The administering authority and the Commission 
shall each hold a hearing in the course of an investigation under this 
title, upon the request of any party to the investigation, before 
making a final determination under section 805.
    ``(b) Procedures.--Any hearing required or permitted under this 
title shall be conducted after notice published in the Federal 
Register, and a transcript of the hearing shall be prepared and made 
available to the public. The hearing shall not be subject to the 
provisions of subchapter II of chapter 5 of title 5, United States 
Code, or to section 702 of such title.

``SEC. 842. DETERMINATIONS ON THE BASIS OF THE FACTS AVAILABLE.

    ``(a) In General.--If--
            ``(1) necessary information is not available on the record, 
        or
            ``(2) an interested party or any other person--
                    ``(A) withholds information that has been requested 
                by the administering authority or the Commission under 
                this title,
                    ``(B) fails to provide such information by the 
                deadlines for the submission of the information or in 
                the form and manner requested, subject to subsections 
                (b)(1) and (d) of section 844,
                    ``(C) significantly impedes a proceeding under this 
                title, or
                    ``(D) provides such information but the information 
                cannot be verified as provided in section 844(g),
        the administering authority and the Commission shall, subject 
        to section 844(c), use the facts otherwise available in 
        reaching the applicable determination under this title.
    ``(b) Adverse Inferences.--If the administering authority or the 
Commission (as the case may be) finds that an interested party has 
failed to cooperate by not acting to the best of its ability to comply 
with a request for information from the administering authority or the 
Commission, the administering authority or the Commission (as the case 
may be), in reaching the applicable determination under this title, may 
use an inference that is adverse to the interests of that party in 
selecting from among the facts otherwise available. Such adverse 
inference may include reliance on information derived from--
            ``(1) the petition, or
            ``(2) any other information placed on the record.
    ``(c) Corroboration of Secondary Information.--When the 
administering authority or the Commission relies on secondary 
information rather than on information obtained in the course of an 
investigation under this title, the administering authority and the 
Commission, as the case may be, shall, to the extent practicable, 
corroborate that information from independent sources that are 
reasonably at their disposal.

``SEC. 843. ACCESS TO INFORMATION.

    ``(a) Information Generally Made Available.--
            ``(1) Progress of investigation reports.--The administering 
        authority and the Commission shall, from time to time upon 
        request, inform the parties to an investigation under this 
        title of the progress of that investigation.
            ``(2) Ex parte meetings.--The administering authority and 
        the Commission shall maintain a record of any ex parte meeting 
        between--
                    ``(A) interested parties or other persons providing 
                factual information in connection with a proceeding 
                under this title, and
                    ``(B) the person charged with making the 
                determination, or any person charged with making a 
                final recommendation to that person, in connection with 
                that proceeding,
        if information relating to that proceeding was presented or 
        discussed at such meeting. The record of such an ex parte 
        meeting shall include the identity of the persons present at 
        the meeting, the date, time, and place of the meeting, and a 
        summary of the matters discussed or submitted. The record of 
        the ex parte meeting shall be included in the record of the 
        proceeding.
            ``(3) Summaries; non-proprietary submissions.--The 
        administering authority and the Commission shall disclose--
                    ``(A) any proprietary information received in the 
                course of a proceeding under this title if it is 
                disclosed in a form which cannot be associated with, or 
                otherwise be used to identify, operations of a 
                particular person, and
                    ``(B) any information submitted in connection with 
                a proceeding which is not designated as proprietary by 
                the person submitting it.
            ``(4) Maintenance of public record.--The administering 
        authority and the Commission shall maintain and make available 
        for public inspection and copying a record of all information 
        which is obtained by the administering authority or the 
        Commission, as the case may be, in a proceeding under this 
        title to the extent that public disclosure of the information 
        is not prohibited under this chapter or exempt from disclosure 
        under section 552 of title 5, United States Code.
    ``(b) Proprietary Information.--
            ``(1) Proprietary status maintained.--
                    ``(A) In general.--Except as provided in subsection 
                (a)(4) and subsection (c), information submitted to the 
                administering authority or the Commission which is 
                designated as proprietary by the person submitting the 
                information shall not be disclosed to any person 
                without the consent of the person submitting the 
                information, other than--
                            ``(i) to an officer or employee of the 
                        administering authority or the Commission who 
                        is directly concerned with carrying out the 
                        investigation in connection with which the 
                        information is submitted or any other 
                        proceeding under this title covering the same 
                        subject vessel, or
                            ``(ii) to an officer or employee of the 
                        United States Customs Service who is directly 
                        involved in conducting an investigation 
                        regarding fraud under this title.
                    ``(B) Additional requirements.--The administering 
                authority and the Commission shall require that 
                information for which proprietary treatment is 
                requested be accompanied by--
                            ``(i) either--
                                    ``(I) a nonproprietary summary in 
                                sufficient detail to permit a 
                                reasonable understanding of the 
                                substance of the information submitted 
                                in confidence, or
                                    ``(II) a statement that the 
                                information is not susceptible to 
                                summary, accompanied by a statement of 
                                the reasons in support of the 
                                contention, and
                            ``(ii) either--
                                    ``(I) a statement which permits the 
                                administering authority or the 
                                Commission to release under 
                                administrative protective order, in 
                                accordance with subsection (c), the 
                                information submitted in confidence, or
                                    ``(II) a statement to the 
                                administering authority or the 
                                Commission that the business 
                                proprietary information is of a type 
                                that should not be released under 
                                administrative protective order.
            ``(2) Unwarranted designation.--If the administering 
        authority or the Commission determines, on the basis of the 
        nature and extent of the information or its availability from 
        public sources, that designation of any information as 
        proprietary is unwarranted, then it shall notify the person who 
        submitted it and ask for an explanation of the reasons for the 
        designation. Unless that person persuades the administering 
        authority or the Commission that the designation is warranted, 
        or withdraws the designation, the administering authority or 
        the Commission, as the case may be, shall return it to the 
        party submitting it. In a case in which the administering 
        authority or the Commission returns the information to the 
        person submitting it, the person may thereafter submit other 
        material concerning the subject matter of the returned 
        information if the submission is made within the time otherwise 
        provided for submitting such material.
    ``(c) Limited Disclosure of Certain Proprietary Information Under 
Protective Order.--
            ``(1) Disclosure by administering authority or 
        commission.--
                    ``(A) In general.--Upon receipt of an application 
                (before or after receipt of the information requested) 
                which describes in general terms the information 
                requested and sets forth the reasons for the request, 
                the administering authority or the Commission shall 
                make all business proprietary information presented to, 
                or obtained by it, during a proceeding under this title 
                (except privileged information, classified information, 
                and specific information of a type for which there is a 
                clear and compelling need to withhold from disclosure) 
                available to all interested parties who are parties to 
                the proceeding under a protective order described in 
                subparagraph (B), regardless of when the information is 
                submitted during the proceeding. Customer names (other 
                than the name of the United States buyer of the subject 
                vessel) obtained during any investigation which 
                requires a determination under section 805(b) may not 
                be disclosed by the administering authority under 
                protective order until either an order is published 
                under section 806(a) as a result of the investigation 
                or the investigation is suspended or terminated. The 
                Commission may delay disclosure of customer names 
                (other than the name of the United States buyer of the 
                subject vessel) under protective order during any such 
                investigation until a reasonable time before any 
                hearing provided under section 841 is held.
                    ``(B) Protective order.--The protective order under 
                which information is made available shall contain such 
                requirements as the administering authority or the 
                Commission may determine by regulation to be 
                appropriate. The administering authority and the 
                Commission shall provide by regulation for such 
                sanctions as the administering authority and the 
                Commission determine to be appropriate, including 
                disbarment from practice before the agency.
                    ``(C) Time limitations on determinations.--The 
                administering authority or the Commission, as the case 
                may be, shall determine whether to make information 
                available under this paragraph--
                            ``(i) not later than 14 days (7 days if the 
                        submission pertains to a proceeding under 
                        section 803(a)) after the date on which the 
                        information is submitted, or
                            ``(ii) if--
                                    ``(I) the person submitting the 
                                information raises objection to its 
                                release, or
                                    ``(II) the information is unusually 
                                voluminous or complex,
                        not later than 30 days (10 days if the 
                        submission pertains to a proceeding under 
                        section 803(a)) after the date on which the 
                        information is submitted.
                    ``(D) Availability after determination.--If the 
                determination under subparagraph (C) is affirmative, 
                then--
                            ``(i) the business proprietary information 
                        submitted to the administering authority or the 
                        Commission on or before the date of the 
                        determination shall be made available, subject 
                        to the terms and conditions of the protective 
                        order, on such date, and
                            ``(ii) the business proprietary information 
                        submitted to the administering authority or the 
                        Commission after the date of the determination 
                        shall be served as required by subsection (d).
                    ``(E) Failure to disclose.--If a person submitting 
                information to the administering authority refuses to 
                disclose business proprietary information which the 
                administering authority determines should be released 
                under a protective order described in subparagraph (B), 
                the administering authority shall return the 
                information, and any nonconfidential summary thereof, 
                to the person submitting the information and summary 
                and shall not consider either.
            ``(2) Disclosure under court order.--If the administering 
        authority or the Commission denies a request for information 
        under paragraph (1), then application may be made to the United 
        States Court of International Trade for an order directing the 
        administering authority or the Commission, as the case may be, 
        to make the information available. After notification of all 
        parties to the investigation and after an opportunity for a 
        hearing on the record, the court may issue an order, under such 
        conditions as the court deems appropriate, which shall not have 
        the effect of stopping or suspending the investigation, 
        directing the administering authority or the Commission to make 
        all or a portion of the requested information described in the 
        preceding sentence available under a protective order and 
        setting forth sanctions for violation of such order if the 
        court finds that, under the standards applicable in proceedings 
        of the court, such an order is warranted, and that--
                    ``(A) the administering authority or the Commission 
                has denied access to the information under subsection 
                (b)(1),
                    ``(B) the person on whose behalf the information is 
                requested is an interested party who is a party to the 
                investigation in connection with which the information 
                was obtained or developed, and
                    (C) the party which submitted the information to 
                which the request relates has been notified, in advance 
                of the hearing, of the request made under this section 
                and of its right to appear and be heard.
    ``(d) Service.--Any party submitting written information, including 
business proprietary information, to the administering authority or the 
Commission during a proceeding shall, at the same time, serve the 
information upon all interested parties who are parties to the 
proceeding, if the information is covered by a protective order. The 
administering authority or the Commission shall not accept any such 
information that is not accompanied by a certificate of service and a 
copy of the protective order version of the document containing the 
information. Business proprietary information shall only be served upon 
interested parties who are parties to the proceeding that are subject 
to protective order, except that a nonconfidential summary thereof 
shall be served upon all other interested parties who are parties to 
the proceeding.
    ``(e) Information Relating to Violations of Protective Orders and 
Sanctions.--The administering authority and the Commission may withhold 
from disclosure any correspondence, private letters of reprimand, 
settlement agreements, and documents and files compiled in relation to 
investigations and actions involving a violation or possible violation 
of a protective order issued under subsection (c), and such information 
shall be treated as information described in section 552(b)(3) of title 
5, United States Code.
    ``(f) Opportunity for Comment by Vessel Buyers.--The administering 
authority and the Commission shall provide an opportunity for buyers of 
subject vessels to submit relevant information to the administering 
authority concerning a sale at less than fair value or countermeasures, 
and to the Commission concerning material injury by reason of the sale 
of a vessel at less than fair value.
    ``(g) Publication of Determinations; Requirements for Final 
Determinations.--
            ``(1) In general.--Whenever the administering authority 
        makes a determination under section 802 whether to initiate an 
        investigation, or the administering authority or the Commission 
        makes a preliminary determination under section 803, a final 
        determination under section 805, a determination under 
        subsection (b), (c), (d), (e)(3)(B)(ii), (g), or (i) of section 
        807, or a determination to suspend an investigation under this 
        title, the administering authority or the Commission, as the 
        case may be, shall publish the facts and conclusions supporting 
        that determination, and shall publish notice of that 
        determination in the Federal Register.
            ``(2) Contents of notice or determination.--The notice or 
        determination published under paragraph (1) shall include, to 
        the extent applicable--
                    ``(A) in the case of a determination of the 
                administering authority--
                            ``(i) the names of the foreign producer and 
                        the country of origin of the subject vessel,
                            ``(ii) a description sufficient to identify 
                        the subject vessel,
                            ``(iii) with respect to an injurious 
                        pricing charge, the injurious pricing margin 
                        established and a full explanation of the 
                        methodology used in establishing such margin,
                            ``(iv) with respect to countermeasures, the 
                        scope and duration of countermeasures and, if 
applicable, any changes thereto, and
                            ``(v) the primary reasons for the 
                        determination, and
                    ``(B) in the case of a determination of the 
                Commission--
                            ``(i) considerations relevant to the 
                        determination of injury, and
                            ``(ii) the primary reasons for the 
                        determination.
            ``(3) Additional requirements for final determinations.--In 
        addition to the requirements set forth in paragraph (2)--
                    ``(A) the administering authority shall include in 
                a final determination under section 805 or 807(c) an 
                explanation of the basis for its determination that 
                addresses relevant arguments, made by interested 
                parties who are parties to the investigation, 
                concerning the establishment of the injurious pricing 
                charge with respect to which the determination is made, 
                and
                    ``(B) the Commission shall include in a final 
                determination of injury an explanation of the basis for 
                its determination that addresses relevant arguments 
                that are made by interested parties who are parties to 
                the investigation concerning the effects and impact on 
                the industry of the sale of the subject vessel.

``SEC. 844. CONDUCT OF INVESTIGATIONS.

    ``(a) Certification of Submissions.--Any person providing factual 
information to the administering authority or the Commission in 
connection with a proceeding under this title on behalf of the 
petitioner or any other interested party shall certify that such 
information is accurate and complete to the best of that person's 
knowledge.
    ``(b) Difficulties in Meeting Requirements.--
            ``(1) Notification by interested party.--If an interested 
        party, promptly after receiving a request from the 
        administering authority or the Commission for information, 
        notifies the administering authority or the Commission (as the 
        case may be) that such party is unable to submit the 
        information requested in the requested form and manner, 
        together with a full explanation and suggested alternative 
        forms in which such party is able to submit the information, 
        the administering authority or the Commission (as the case may 
        be) shall consider the ability of the interested party to 
        submit the information in the requested form and manner and may 
        modify such requirements to the extent necessary to avoid 
        imposing an unreasonable burden on that party.
            ``(2) Assistance to interested parties.--The administering 
        authority and the Commission shall take into account any 
        difficulties experienced by interested parties, particularly 
        small companies, in supplying information requested by the 
        administering authority or the Commission in connection with 
        investigations under this title, and shall provide to such 
        interested parties any assistance that is practicable in 
        supplying such information.
    ``(c) Deficient Submissions.--If the administering authority or the 
Commission determines that a response to a request for information 
under this title does not comply with the request, the administering 
authority or the Commission (as the case may be) shall promptly inform 
the person submitting the response of the nature of the deficiency and 
shall, to the extent practicable, provide that person with an 
opportunity to remedy or explain the deficiency in light of the time 
limits established for the completion of investigations or reviews 
under this title. If that person submits further information in 
response to such deficiency and either--
            ``(1) the administering authority or the Commission (as the 
        case may be) finds that such response is not satisfactory, or
            ``(2) such response is not submitted within the applicable 
        time limits,
then the administering authority or the Commission (as the case may be) 
may, subject to subsection (d), disregard all or part of the original 
and subsequent responses.
    ``(d) Use of Certain Information.--In reaching a determination 
under section 803, 805, or 807, the administering authority and the 
Commission shall not decline to consider information that is submitted 
by an interested party and is necessary to the determination but does 
not meet all the applicable requirements established by the 
administering authority or the Commission if--
            ``(1) the information is submitted by the deadline 
        established for its submission,
            ``(2) the information can be verified,
            ``(3) the information is not so incomplete that it cannot 
        serve as a reliable basis for reaching the applicable 
        determination,
            ``(4) the interested party has demonstrated that it acted 
        to the best of its ability in providing the information and 
        meeting the requirements established by the administering 
        authority or the Commission with respect to the information, 
        and
            ``(5) the information can be used without undue 
        difficulties.
    ``(e) Nonacceptance of Submissions.--If the administering authority 
or the Commission declines to accept into the record any information 
submitted in an investigation under this title, it shall, to the extent 
practicable, provide to the person submitting the information a written 
explanation of the reasons for not accepting the information.
    ``(f) Public Comment on Information.--Information that is submitted 
on a timely basis to the administering authority or the Commission 
during the course of a proceeding under this title shall be subject to 
comment by other parties within such reasonable time as the 
administering authority or the Commission shall provide. The 
administering authority and the Commission, before making a final 
determination under section 805 or 807, shall cease collecting 
information and shall provide the parties with a final opportunity to 
comment on the information obtained by the administering authority or 
the Commission (as the case may be) upon which the parties have not 
previously had an opportunity to comment. Comments containing new 
factual information shall be disregarded.
    ``(g) Verification.--The administering authority shall verify all 
information relied upon in making a final determination under section 
805.

``SEC. 845. ADMINISTRATIVE ACTION FOLLOWING SHIPBUILDING AGREEMENT 
              PANEL REPORTS.

    ``(a) Action by United States International Trade Commission.--
             ``(1) Advisory report.--If a dispute settlement panel 
        under the Shipbuilding Agreement finds in a report that an 
        action by the Commission in connection with a particular 
        proceeding under this title is not in conformity with the 
        obligations of the United States under the Shipbuilding 
        Agreement, the Trade Representative may request the Commission 
        to issue an advisory report on whether this title permits the 
        Commission to take steps in connection with the particular 
        proceeding that would render its action not inconsistent with 
        the findings of the panel concerning those obligations. The 
        Trade Representative shall notify the Committee on Ways and 
        Means of the House of Representatives and the Committee on 
        Finance of the Senate of such request.
            ``(2) Time limits for report.--The Commission shall 
        transmit its report under paragraph (1) to the Trade 
        Representative within 30 calendar days after the Trade 
        Representative requests the report.
            ``(3) Consultations on request for commission 
        determination.--If a majority of the Commissioners issues an 
        affirmative report under paragraph (1), the Trade 
        Representatives shall consult with the congressional committees 
        listed in paragraph (1) concerning the matter.
            ``(4) Commission determination.--Notwithstanding any other 
        provision of this title, if a majority of the Commissioners 
        issues an affirmative report under paragraph (1), the 
        Commission, upon the written request of the Trade 
        Representative, shall issue a determination in connection with 
        the particular proceeding that would render the Commission's 
        action described in paragraph (1) not inconsistent with the 
        findings of the panel. The Commission shall issue its 
        determination not later than 120 calendar days after the 
        request from the Trade Representative is made.
            ``(5) Consultations on implementation of commission 
        determination.--The Trade Representative shall consult with the 
        congressional committees listed in paragraph (1) before the 
        Commission's determination under paragraph (4) is implemented.
            ``(6) Revocation of order.--If, by virtue of the 
        Commission's determination under paragraph (4), an injurious 
        pricing order is no longer supported by an affirmative 
        Commission determination under this title, the Trade 
        Representative may, after consulting with the congressional 
        committees under paragraph (5), direct the administering 
        authority to revoke the injurious pricing order.
    ``(b) Action by Administering Authority.--
            ``(1) Consultations with administering authority and 
        congressional committees.--Promptly after a report or other 
        determination by a dispute settlement panel under the 
        Shipbuilding Agreement is issued that contains findings that--
                    ``(A) an action by the administering authority in a 
                proceeding under this title is not in conformity with 
                the obligations of the United States under the 
                Shipbuilding Agreement,
                    ``(B) the due date for payment of an injurious 
                pricing charge contained in an order issued under 
                section 806 should be amended,
                    ``(C) countermeasures provided for in an order 
                issued under section 807 should be provisionally 
                suspended or reduced pending the final decision of the 
                panel, or
                    ``(D) the scope or duration of countermeasures 
                imposed under section 807 should be narrowed or 
                shortened,
        the Trade Representative shall consult with the administering 
        authority and the congressional committees listed in subsection 
        (a)(1) on the matter.
            ``(2) Determination by administering authority.--
        Notwithstanding any other provision of this title, the 
        administering authority shall, in response to a written request 
        from the Trade Representative, issue a determination, or an 
        amendment to or suspension of an injurious pricing or 
        countermeasure order, as the case may be, in connection with 
        the particular proceeding that would render the administering 
        authority's action described in paragraph (1) not inconsistent 
        with the findings of the panel.
            ``(3) Time limits for determinations.--The administering 
        authority shall issue its determination, amendment, or 
        suspension under paragraph (2)--
                    ``(A) with respect to a matter described in 
                subparagraph (A) of paragraph (1), within 180 calendar 
                days after the request from the Trade Representative is 
                made, and
                    ``(B) with respect to a matter described in 
                subparagraph (B), (C), or (D) of paragraph (1), within 
                15 calendar days after the request from the Trade 
                Representative is made.
            ``(4) Consultations before implementation.--Before the 
        administering authority implements any determination, 
        amendment, or suspension under paragraph (2), the Trade 
        Representative shall consult with the administering authority 
        and the congressional committees listed in subsection (a)(1) 
        with respect to such determination, amendment, or suspension.
            ``(5) Implementation of determination.--The Trade 
        Representative may, after consulting with the administering 
        authority and the congressional committees under paragraph (4), 
        direct the administering authority to implement, in whole or in 
        part, the determination, amendment, or suspension made under 
        paragraph (2).
            ``(6) Implementation of determination; notice of 
        implementation.--The administering authority shall implement 
        the determination, amendment, or suspension under paragraph 
        (2)--
                    ``(A) with respect to a matter described in 
                subparagraph (A) of paragraph (1), only if the 
                injurious pricing margin determined under paragraph (2) 
                differs from the injurious pricing margin in the 
                determination reviewed by the panel, and
                    ``(B) with respect to a matter described in 
                subparagraph (B), (C), or (D) of paragraph (1), upon 
                issuance of the determination, amendment, or suspension 
                under paragraph (2).
        The administering authority shall publish notice of such 
        implementation in the Federal Register.
    ``(c) Opportunity for Comment by Interested Parties.--Before 
issuing a determination, amendment, or suspension, the administering 
authority, in a matter described in subsection (b)(1)(A), or the 
Commission, in a matter described in subsection (a)(1), as the case may 
be, shall provide interested parties with an opportunity to submit 
written comments and, in appropriate cases, may hold a hearing, with 
respect to the determination.

                       ``Subtitle D--Definitions

``SEC. 861. DEFINITIONS.

    ``For purposes of this title:
            ``(1) Administering authority.--The term `administering 
        authority' means the Secretary of Commerce, or any other 
        officer of the United States to whom the responsibility for 
        carrying out the duties of the administering authority under 
        this title are transferred by law.
            ``(2) Commission.--The term `Commission' means the United 
        States International Trade Commission.
            ``(3) Country.--The term `country' means a foreign country, 
        a political subdivision, dependent territory, or possession of 
        a foreign country and, except as provided in paragraph 
        (16)(E)(iii), may not include an association of 2 or more 
        foreign countries, political subdivisions, dependent 
        territories, or possessions of countries into a customs union 
        outside the United States.
            ``(4) Industry.--
                    ``(A) In general.--Except as used in section 808, 
                the term `industry' means the producers as a whole of a 
                domestic like vessel, or those producers whose 
                collective capability to produce a domestic like vessel 
                constitutes a major proportion of the total domestic 
                capability to produce a domestic like vessel.
                    ``(B) Producer.--A `producer' of a domestic like 
                vessel includes an entity that is producing the 
                domestic like vessel and an entity with the capability 
                to produce the domestic like vessel.
                    ``(C) Capability to produce a domestic like 
                vessel.--A producer has the `capability to produce a 
                domestic like vessel' if it is capable of producing a 
                domestic like vessel with its present facilities or 
                could adapt its facilities in a timely manner to 
                produce a domestic like vessel.
                    ``(D) Related parties.--(i) In an investigation 
                under this title, if a producer of a domestic like 
                vessel and the foreign producer, seller (other than the 
                foreign producer), or United States buyer of the 
                subject vessel are related parties, or if a producer of 
                a domestic like vessel is also a United States buyer of 
                the subject vessel, the domestic producer may, in 
                appropriate circumstances, be excluded from the 
                industry.
                    ``(ii) For purposes of clause (i), a domestic 
                producer and the foreign producer, seller, or United 
                States buyer shall be considered to be related parties, 
                if--
                            ``(I) the domestic producer directly or 
                        indirectly controls the foreign producer, 
                        seller or United States buyer,
                            ``(II) the foreign producer, seller, or 
                        United States buyer directly or indirectly 
                        controls the domestic producer,
                            ``(III) a third party directly or 
                        indirectly controls the domestic producer and 
                        the foreign producer, seller, or United States 
                        buyer, or
                            ``(IV) the domestic producer and the 
                        foreign producer, seller, or United States 
                        buyer directly or indirectly control a third 
                        party and there is reason to believe that the 
                        relationship causes the producer to act 
                        differently than a nonrelated producer.
                For purposes of this subparagraph, a party shall be 
                considered to directly or indirectly control another 
                party if the party is legally or operationally in a 
                position to exercise restraint or direction over the 
                other party.
                    ``(E) Product lines.--In an investigation under 
                this title, the effect of the sale of the subject 
                vessel shall be assessed in relation to the United 
                States production (or production capability) of a 
                domestic like vessel if available data permit the 
                separate identification of production (or production 
                capability) in terms of such criteria as the production 
                process or the producer's profits. If the domestic 
                production (or production capability) of a domestic 
                like vessel has no separate identity in terms of such 
                criteria, then the effect of the sale shall be assessed 
                by the examination of the production (or production 
                capability) of the narrowest group or range of vessels, 
                which includes a domestic like vessel, for which the 
                necessary information can be provided.
            ``(5) Buyer.--The term `buyer' means any person who 
        acquires an ownership interest in a vessel, including by way of 
        lease or long-term bareboat charter, in conjunction with the 
        original transfer from the producer, either directly or 
        indirectly, including an individual or company which owns or 
        controls a buyer. There may be more than one buyer of any one 
        vessel.
            ``(6) United states buyer.--The term `United States buyer' 
        means a buyer that is any of the following:
                    ``(A) A United States citizen.
                    ``(B) A juridical entity, including any 
                corporation, company, association, or other 
                organization, that is legally constituted under the 
                laws and regulations of the United States or a 
                political subdivision thereof, regardless of whether 
                the entity is organized for pecuniary gain, privately 
                or government owned, or organized with limited or 
                unlimited liability.
                    ``(C) A juridical entity that is owned or 
                controlled by nationals or entities described in 
                subparagraphs (A) and (B). For the purposes of this 
                subparagraph--
                            ``(i) the term `own' means having more than 
                        a 50 percent interest, and
                            ``(ii) the term `control' means the actual 
                        ability to have substantial influence on 
                        corporate behavior, and control is presumed to 
                        exist where there is at least a 25 percent 
                        interest.
                If ownership of a company is established under clause 
                (i), other control is presumed not to exist unless it 
                is otherwise established.
            ``(7) Ownership interest.--An `ownership interest' in a 
        vessel includes any contractual or proprietary interest which 
        allows the beneficiary or beneficiaries of such interest to 
        take advantage of the operation of the vessel in a manner 
        substantially comparable to the way in which an owner may 
        benefit from the operation of the vessel. In determining 
        whether such substantial comparability exists, the 
        administering authority shall consider--
                    ``(A) the terms and circumstances of the 
                transaction which conveys the interest,
                    ``(B) commercial practice,
                    ``(C) whether the vessel subject to the transaction 
                is integrated into the operations of the beneficiary or 
                beneficiaries, and
                    ``(D) whether in practice there is a likelihood 
                that the beneficiary or beneficiaries of such interests 
                will take advantage of and the risk for the operation 
                of the vessel for a significant part of the life-time 
                of the vessel.
            ``(8) Vessel.--
                    ``(A) In general.--Except as otherwise specifically 
                provided under international agreements, the term 
                `vessel' means--
                            ``(i) a self-propelled seagoing vessel of 
                        100 gross tons or more used for transportation 
                        of goods or persons or for performance of a 
                        specialized service (including, but not limited 
                        to, ice breakers and dredgers), and
                            ``(ii) a tug of 365 kilowatts or more,
                that is produced in a Shipbuilding Agreement Party or a 
                country that is not a Shipbuilding Agreement Party and 
                not a WTO member.
                    ``(B) Exclusions.--The term `vessel' does not 
                include--
                            ``(i) any fishing vessel destined for the 
                        fishing fleet of the country in which the 
                        vessel is built,
                            ``(ii) any military vessel, and
                            ``(iii) any vessel sold before the date 
                        that the Shipbuilding Agreement enters into 
                        force with respect to the United States, except 
                        that any vessel sold after December 21, 1994, 
                        for delivery more than 5 years after the date 
                        of the contract of sale shall be a `vessel' for 
                        purposes of this title unless the shipbuilder 
                        demonstrates to the administering authority 
                        that the extended delivery date was for normal 
                        commercial reasons and not to avoid 
                        applicability of this title.
                    ``(C) Self-propelled seagoing vessel.--A vessel is 
                `self-propelled seagoing' if its permanent propulsion 
                and steering provide it all the characteristics of 
                self-navigability in the high seas.
                    ``(D) Military vessel.--A `military vessel' is a 
                vessel which, according to its basic structural 
                characteristics and ability, is intended to be used 
                exclusively for military purposes.
            ``(9) Like vessel.--The term ``like vessel'' means a vessel 
        of the same type, same purpose, and approximate size as the 
        subject vessel and possessing characteristics closely 
        resembling those of the subject vessel.
            ``(10) Domestic like vessel.--The term `domestic like 
        vessel' means a like vessel produced in the United States.
            ``(11) Foreign like vessel.--Except as used in section 
        822(e)(1)(B)(ii)(II), the term `foreign like vessel' means a 
        like vessel produced by the foreign producer of the subject 
        vessel for sale in the producer's domestic market or in a third 
        country.
            ``(12) Same general category of vessel.--The term `same 
        general category of vessel' means a vessel of the same type and 
purpose as the subject vessel, but of a significantly different size.
            ``(13) Subject vessel.--The term `subject vessel' means a 
        vessel subject to investigation under section 801 or 808.
            ``(14) Foreign producer.--The term `foreign producer' means 
        the producer or producers of the subject vessel.
            ``(15) Exporting country.--The term `exporting country' 
        means the country in which the subject vessel was built.
            ``(16) Material injury.--
                    ``(A) In general.--The term `material injury' means 
                harm which is not inconsequential, immaterial, or 
                unimportant.
                    ``(B) Sale and consequent impact.--In making 
                determinations under sections 803(a) and 805(b), the 
                Commission in each case--
                            ``(i) shall consider--
                                    ``(I) the sale of the subject 
                                vessel,
                                    ``(II) the effect of the sale of 
                                the subject vessel on prices in the 
                                United States for a domestic like 
                                vessel, and
                                    ``(III) the impact of the sale of 
                                the subject vessel on domestic 
                                producers of the domestic like vessel, 
                                but only in the context of production 
                                operations within the United States, 
                                and
                            ``(ii) may consider such other economic 
                        factors as are relevant to the determination 
                        regarding whether there is or has been material 
                        injury by reason of the sale of the subject 
                        vessel.
                In the notification required under section 805(d), the 
                Commission shall explain its analysis of each factor 
                considered under clause (i), and identify each factor 
                considered under clause (ii) and explain in full its 
                relevance to the determination.
                    ``(C) Evaluation of relevant factors.--For purposes 
                of subparagraph (B)--
                            ``(i) Sale of the subject vessel.--In 
                        evaluating the sale of the subject vessel, the 
                        Commission shall consider whether the sale, 
                        either in absolute terms or relative to 
                        production or demand in the United States, in 
                        terms of either volume or value, is or has been 
                        significant.
                            ``(ii) Price.--In evaluating the effect of 
                        the sale of the subject vessel on prices, the 
                        Commission shall consider whether--
                                    ``(I) there has been significant 
                                price underselling of the subject 
                                vessel as compared with the price of a 
                                domestic like vessel, and
                                    ``(II) the effect of the sale of 
                                the subject vessel otherwise depresses 
                                or has depressed prices to a 
                                significant degree or prevents or has 
                                prevented price increases, which 
                                otherwise would have occurred, to a 
                                significant degree.
                            ``(iii) Impact on affected domestic 
                        industry.--In examining the impact required to 
                        be considered under subparagraph (B)(i)(III), 
                        the Commission shall evaluate all relevant 
                        economic factors which have a bearing on the 
                        state of the industry in the United States, 
                        including, but not limited to--
                                    ``(I) actual and potential decline 
                                in output, sales, market share, 
                                profits, productivity, return on 
                                investments, and utilization of 
                                capacity,
                                    ``(II) factors affecting domestic 
                                prices, including with regard to sales,
                                    ``(III) actual and potential 
                                negative effects on cash flow, 
                                employment, wages, growth, ability to 
                                raise capital, and investment,
                                    ``(IV) actual and potential 
                                negative effects on the existing 
                                development and production efforts of 
                                the domestic industry, including 
                                efforts to develop a derivative or more 
                                advanced version of a domestic like 
                                vessel, and
                                    ``(V) the magnitude of the 
                                injurious pricing margin.
                        The Commission shall evaluate all relevant 
                        economic factors described in this clause 
                        within the context of the business cycle and 
                        conditions of competition that are distinctive 
                        to the affected industry.
                    ``(D) Standard for determination.--The presence or 
                absence of any factor which the Commission is required 
                to evaluate under subparagraph (C) shall not 
                necessarily give decisive guidance with respect to the 
                determination by the Commission of material injury.
                    ``(E) Threat of material injury.--
                            ``(i) In general.--In determining whether 
                        an industry in the United States is threatened 
                        with material injury by reason of the sale of 
                        the subject vessel, the Commission shall 
                        consider, among other relevant economic 
                        factors--
                                    ``(I) any existing unused 
                                production capacity or imminent, 
                                substantial increase in production 
                                capacity in the exporting country 
                                indicating the likelihood of 
                                substantially increased sales of a 
                                foreign like vessel to United States 
                                buyers, taking into account the 
                                availability of other export markets to 
                                absorb any additional exports,
                                    ``(II) whether the sale of a 
                                foreign like vessel or other factors 
                                indicate the likelihood of significant 
                                additional sales to United States 
                                buyers,
                                    ``(III) whether sale of the subject 
                                vessel or sale of a foreign like vessel 
                                by the foreign producer are at prices 
                                that are likely to have a significant 
                                depressing or suppressing effect 
on domestic prices, and are likely to increase demand for further 
sales,
                                    ``(IV) the potential for product-
                                shifting if production facilities in 
                                the exporting country, which can 
                                presently be used to produce a foreign 
                                like vessel or could be adapted in a 
                                timely manner to produce a foreign like 
                                vessel, are currently being used to 
                                produce other types of vessels,
                                    ``(V) the actual and potential 
                                negative effects on the existing 
                                development and production efforts of 
                                the domestic industry, including 
                                efforts to develop a derivative or more 
                                advanced version of a domestic like 
                                vessel, and
                                    ``(VI) any other demonstrable 
                                adverse trends that indicate the 
                                probability that there is likely to be 
                                material injury by reason of the sale 
                                of the subject vessel.
                            ``(ii) Basis for determination.--The 
                        Commission shall consider the factors set forth 
                        in clause (i) as a whole. The presence or 
                        absence of any factor which the Commission is 
                        required to consider under clause (i) shall not 
                        necessarily give decisive guidance with respect 
                        to the determination. Such a determination may 
                        not be made on the basis of mere conjecture or 
                        supposition.
                            ``(iii) Effect of injurious pricing in 
                        third-country markets.--
                                    ``(I) In general.--The Commission 
                                shall consider whether injurious 
                                pricing in the markets of foreign 
                                countries (as evidenced by injurious 
                                pricing findings or injurious pricing 
                                remedies of other Shipbuilding 
                                Agreement Parties, or antidumping 
                                determinations of, or measures imposed 
                                by, other countries, against a like 
                                vessel produced by the producer under 
                                investigation) suggests a threat of 
                                material injury to the domestic 
                                industry. In the course of its 
                                investigation, the Commission shall 
                                request information from the foreign 
                                producer or United States buyer 
                                concerning this issue.
                                    ``(II) European communities.--For 
                                purposes of this clause, the European 
                                Communities as a whole shall be treated 
                                as a single foreign country.
                    ``(F) Cumulation for determining material injury.--
                            ``(i) In general.--For purposes of clauses 
                        (i) and (ii) of subparagraph (C), and subject 
                        to clause (ii) of this subparagraph, the 
                        Commission shall cumulatively assess the 
                        effects of sales of foreign like vessels from 
                        all foreign producers with respect to which--
                                    ``(I) petitions were filed under 
                                section 802(b) on the same day,
                                    ``(II) investigations were 
                                initiated under section 802(a) on the 
                                same day, or
                                    ``(III) petitions were filed under 
                                section 802(b) and investigations were 
                                initiated under section 802(a) on the 
                                same day,
                        if, with respect to such vessels, the foreign 
                        producers compete with each other and with 
                        producers of a domestic like vessel in the 
                        United States market.
                            ``(ii) Exceptions.--The Commission shall 
                        not cumulatively assess the effects of sales 
                        under clause (i)--
                                    ``(I) with respect to which the 
                                administering authority has made a 
                                preliminary negative determination, 
                                unless the administering authority 
                                subsequently made a final affirmative 
                                determination with respect to those 
                                sales before the Commission's final 
                                determination is made, or
                                    ``(II) from any producer with 
                                respect to which the investigation has 
                                been terminated.
                            ``(iii) Records in final investigations.--
                        In each final determination in which it 
                        cumulatively assesses the effects of sales 
                        under clause (i), the Commission may make its 
                        determinations based on the record compiled in 
                        the first investigation in which it makes a 
                        final determination, except that when the 
                        administering authority issues its final 
                        determination in a subsequently completed 
                        investigation, the Commission shall permit the 
                        parties in the subsequent investigation to 
                        submit comments concerning the significance of 
                        the administering authority's final 
                        determination, and shall include such comments 
                        and the administering authority's final 
                        determination in the record for the subsequent 
                        investigation.
                    ``(G) Cumulation for determining threat of material 
                injury.--To the extent practicable and subject to 
                subparagraph (F)(ii), for purposes of clause (i) (II) 
                and (III) of subparagraph (E), the Commission may 
                cumulatively assess the effects of sales of like 
                vessels from all countries with respect to which--
                            ``(i) petitions were filed under section 
                        802(b) on the same day,
                            ``(ii) investigations were initiated under 
                        section 802(a) on the same day, or
                            ``(iii) petitions were filed under section 
                        802(b) and investigations were initiated under 
                        section 802(a) on the same day,
                if, with respect to such vessels, the foreign producers 
                compete with each other and with producers of a 
                domestic like vessel in the United States market.
            ``(17) Interested party.--The term `interested party' 
        means, in a proceeding under this title--
                    ``(A)(i) the foreign producer, seller (other than 
                the foreign producer), and the United States buyer of 
                the subject vessel, or
                    ``(ii) a trade or business association a majority 
                of the members of which are the foreign producer, 
                seller, or United States buyer of the subject vessel,
                    ``(B) the government of the country in which the 
                subject vessel is produced or manufactured,
                    ``(C) a producer that is a member of an industry,
                    ``(D) a certified union or recognized union or 
                group of workers which is representative of an 
                industry,
                    ``(E) a trade or business association a majority of 
                whose members are producers in an industry,
                    ``(F) an association, a majority of whose members 
                is composed of interested parties described in 
                subparagraph (C), (D), or (E), and
                    ``(G) for purposes of section 807, a purchaser who, 
                after the effective date of an order issued under that 
                section, entered into a contract of sale with the 
                foreign producer that is subject to the order.
            ``(18) Affirmative determinations by divided commission.--
        If the Commissioners voting on a determination by the 
        Commission are evenly divided as to whether the determination 
        should be affirmative or negative, the Commission shall be 
        deemed to have made an affirmative determination. For the 
        purpose of applying this paragraph when the issue before the 
        Commission is to determine whether there is or has been--
                    ``(A) material injury to an industry in the United 
                States,
                    ``(B) threat of material injury to such an 
                industry, or
                    ``(C) material retardation of the establishment of 
                an industry in the United States,
        by reason of the sale of the subject vessel, an affirmative 
        vote on any of the issues shall be treated as a vote that the 
        determination should be affirmative.
            ``(19) Ordinary course of trade.--The term `ordinary course 
        of trade' means the conditions and practices which, for a 
        reasonable time before the sale of the subject vessel, have 
        been normal in the shipbuilding industry with respect to a like 
        vessel. The administering authority shall consider the 
        following sales and transactions, among others, to be outside 
        the ordinary course of trade:
                    ``(A) Sales disregarded under section 822(b)(1).
                    ``(B) Transactions disregarded under section 
                822(f)(2).
            ``(20) Nonmarket economy country.--
                    ``(A) In general.--The term `nonmarket economy 
                country' means any foreign country that the 
                administering authority determines does not operate on 
                market principles of cost or pricing structures, so 
                that sales of vessels in such country do not reflect 
                the fair value of the vessels.
                    ``(B) Factors to be considered.--In making 
                determinations under subparagraph (A) the administering 
                authority shall take into account--
                            ``(i) the extent to which the currency of 
                        the foreign country is convertible into the 
                        currency of other countries,
                            ``(ii) the extent to which wage rates in 
                        the foreign country are determined by free 
                        bargaining between labor and management,
                            ``(iii) the extent to which joint ventures 
                        or other investments by firms of other foreign 
                        countries are permitted in the foreign country,
                            ``(iv) the extent of government ownership 
                        or control of the means of production,
                            ``(v) the extent of government control over 
                        the allocation of resources and over the price 
                        and output decisions of enterprises, and
                            ``(vi) such other factors as the 
                        administering authority considers appropriate.
                    ``(C) Determination in effect.--
                            ``(i) Any determination that a foreign 
                        country is a nonmarket economy country shall 
                        remain in effect until revoked by the 
                        administering authority.
                            ``(ii) The administering authority may make 
                        a determination under subparagraph (A) with 
                        respect to any foreign country at any time.
                    ``(D) Determinations not in issue.--Notwithstanding 
                any other provision of law, any determination made by 
                the administering authority under subparagraph (A) 
                shall not be subject to judicial review in any 
                investigation conducted under subtitle A.
            ``(21) Shipbuilding agreement.--The term `Shipbuilding 
        Agreement' means The Agreement Respecting Normal Competitive 
        Conditions in the Commercial Shipbuilding and Repair Industry, 
        resulting from negotiations under the auspices of the 
        Organization for Economic Cooperation and Development, and 
        entered into on December 21, 1994.
            ``(22) Shipbuilding agreement party.--The term 
        `Shipbuilding Agreement Party' means a state or separate 
        customs territory that is a Party to the Shipbuilding 
        Agreement, and with respect to which the United States applies 
        the Shipbuilding Agreement.
            ``(23) WTO agreement.--The term `WTO Agreement' means the 
        Agreement defined in section 2(9) of the Uruguay Round 
        Agreements Act.
            ``(24) WTO member.--The term `WTO member' means a state, or 
        separate customs territory (within the meaning of Article XII 
        of the WTO Agreement), with respect to which the United States 
        applies the WTO Agreement.
            ``(25) Trade representative.--The term `Trade 
        Representative' means the United States Trade Representative.
            ``(26) Affiliated persons.--The following persons shall be 
        considered to be `affiliated' or `affiliated persons':
                    ``(A) Members of a family, including brothers and 
                sisters (whether by the whole or half blood), spouse, 
                ancestors, and lineal descendants.
                    ``(B) Any officer or director of an organization 
                and such organization.
                    ``(C) Partners.
                    ``(D) Employer and employee.
                    ``(E) Any person directly or indirectly owning, 
                controlling, or holding with power to vote, 5 percent 
                or more of the outstanding voting stock or shares of 
                any organization, and such organization.
                    ``(F) Two or more persons directly or indirectly 
                controlling, controlled by, or under common control 
                with, any person.
                    ``(G) Any person who controls any other person, and 
                such other person.
        For purposes of this paragraph, a person shall be considered to 
        control another person if the person is legally or 
        operationally in a position to exercise restraint or direction 
        over the other person.
            ``(27) Injurious pricing.--The term `injurious pricing' 
        refers to the sale of a vessel at less than fair value.
            ``(28) Injurious pricing margin.--
                    ``(A) In general.--The term `injurious pricing 
                margin' means the amount by which the normal value 
                exceeds the export price of the subject vessel.
                    ``(B) Magnitude of the injurious pricing margin.--
                The magnitude of the injurious pricing margin used by 
                the Commission shall be--
                            ``(i) in making a preliminary determination 
                        under section 803(a) in an investigation 
                        (including any investigation in which the 
                        Commission cumulatively assesses the effect of 
                        sales under paragraph (16)(F)(i)), the 
                        injurious pricing margin or margins published 
                        by the administering authority in its notice of 
                        initiation of the investigation; and
                            ``(ii) in making a final determination 
                        under section 805(b), the injurious pricing 
                        margin or margins most recently published by 
                        the administering authority before the closing 
                        of the Commission's administrative record.
            ``(29) Commercial interest reference rate.--The term 
        `Commercial Interest Reference Rate' or `CIRR' means an 
        interest rate that the administering authority determines to be 
        consistent with Annex III, and appendices and notes thereto, of 
        the Understanding on Export Credits for Ships, resulting from 
        negotiations under the auspices of the Organization for 
        Economic Cooperation, and entered into on December 21, 1994.
            ``(30) Antidumping.--
                    ``(A) WTO members.--In the case of a WTO member, 
                the term `antidumping' refers to action taken pursuant 
                to the Agreement on Implementation of Article VI of the 
                General Agreement on Tariffs and Trade 1994.
                    ``(B) Other cases.--In the case of any country that 
                is not a WTO member, the term `antidumping' refers to 
                action taken by the country against the sale of a 
                vessel at less than fair value that is comparable to 
                action described in subparagraph (A).
            ``(31) Broad multiple bid.--The term `broad multiple bid' 
        means a bid in which the proposed buyer extends an invitation 
        to at least all the producers in the industry known by the 
        buyer to be capable of building the subject vessel.''.

SEC. 102. ENFORCEMENT OF COUNTERMEASURES.

    Part II of title IV of the Tariff Act of 1930 is amended by adding 
at the end the following:

``SEC. 468. SHIPBUILDING AGREEMENT COUNTERMEASURES.

    ``(a) In General.--Notwithstanding any other provision of law, upon 
receiving from the Secretary of Commerce a list of vessels subject to 
countermeasures under section 807, the Customs Service shall deny any 
request for a permit to lade or unlade passengers, merchandise, or 
baggage from or onto those vessels so listed.
    ``(b) Exceptions.--Subsection (a) shall not be applied to deny a 
permit for the following:
            ``(1) To unlade any United States citizen or permanent 
        legal resident alien from a vessel included in the list 
        described in subsection (a), or to unlade any refugee or any 
        alien who would otherwise be eligible to apply for asylum and 
        withholding of deportation under the Immigration and 
        Nationality Act.
            ``(2) To lade or unlade any crewmember of such vessel.
            ``(3) To lade or unlade coal and other fuel supplies (for 
        the operation of the listed vessel), ships' stores, sea stores, 
        and the legitimate equipment of such vessel.
            ``(4) To lade or unlade supplies for the use or sale on 
        such vessel.
            ``(5) To lade or unlade such other merchandise, baggage, or 
        passenger as the Customs Service shall determine necessary to 
        protect the immediate health, safety, or welfare of a human 
        being.
    ``(c) Correction of Ministerial or Clerical Errors.--
            ``(1) Petition for correction.--If the master of any vessel 
        whose application for a permit to lade or unlade has been 
        denied under this section believes that such denial resulted 
        from a ministerial or clerical error, not amounting to a 
        mistake of law, committed by any Customs officer, the master 
        may petition the Customs Service for correction of such error, 
        as provided by regulation.
            ``(2) Inapplicability of sections 514 and 520.--
        Notwithstanding paragraph (1), imposition of countermeasures 
        under this section shall not be deemed an exclusion or other 
        protestable decision under section 514, and shall not be 
        subject to correction under section 520.
            ``(3) Petitions seeking administrative review.--Any 
        petition seeking administrative review of any matter regarding 
        the Secretary of Commerce's decision to list a vessel under 
        section 807 must be brought under that section.
    ``(d) Penalties.--In addition to any other provision of law, the 
Customs Service may impose a civil penalty of not to exceed $10,000 
against the master of any vessel--
            ``(1) who submits false information in requesting any 
        permit to lade or unlade; or
            ``(2) who attempts to, or actually does, lade or unlade in 
        violation of any denial of such permit under this section.''.

SEC. 103. JUDICIAL REVIEW IN INJURIOUS PRICING AND COUNTERMEASURE 
              PROCEEDINGS.

    (a) Judicial Review.--Part III of title IV of the Tariff Act of 
1930 is amended by inserting after section 516A the following:

``SEC. 516B. JUDICIAL REVIEW IN INJURIOUS PRICING AND COUNTERMEASURE 
              PROCEEDINGS.

    ``(a) Review of Determination.--
            ``(1) In general.--Within 30 days after the date of 
        publication in the Federal Register of--
                    ``(A)(i) a determination by the administering 
                authority under section 802(c) not to initiate an 
                investigation,
                    ``(ii) a negative determination by the Commission 
                under section 803(a) as to whether there is or has been 
                reasonable indication of material injury, threat of 
                material injury, or material retardation,
                    ``(iii) a determination by the administering 
                authority to suspend or revoke an injurious pricing 
                order under section 806(d) or (e),
                    ``(iv) a determination by the administering 
                authority under section 807(c),
                    ``(v) a determination by the administering 
                authority in a review under section 807(d),
                    ``(vi) a determination by the administering 
                authority concerning whether to extend the scope or 
                duration of a countermeasure order under section 
                807(e)(3)(B)(ii),
                    ``(vii) a determination by the administering 
                authority to amend a countermeasure order under section 
                807(e)(6),
                    ``(viii) a determination by the administering 
                authority in a review under section 807(g),
                    ``(ix) a determination by the administering 
                authority under section 807(i) to terminate 
                proceedings, or to amend or revoke a countermeasure 
                order,
                    ``(x) a determination by the administering 
                authority under section 845(b), with respect to a 
                matter described in paragraph (1)(D) of that section, 
                or
                    ``(B)(i) an injurious pricing order based on a 
                determination described in subparagraph (A) of 
                paragraph (2),
                    ``(ii) notice of a determination described in 
                subparagraph (B) of paragraph (2),
                    ``(iii) notice of implementation of a determination 
                described in subparagraph (C) of paragraph (2), or
                    ``(iv) notice of revocation of an injurious pricing 
                order based on a determination described in 
                subparagraph (D) of paragraph (2),
        an interested party who is a party to the proceeding in 
        connection with which the matter arises may commence an action 
        in the United States Court of International Trade by filing 
        concurrently a summons and complaint, each with the content and 
        in the form, manner, and style prescribed by the rules of that 
        court, contesting any factual findings or legal conclusions 
        upon which the determination is based.
            ``(2) Reviewable determinations.--The determinations 
        referred to in paragraph (1)(B) are--
                    ``(A) a final affirmative determination by the 
                administering authority or by the Commission under 
                section 805, including any negative part of such a 
                determination (other than a part referred to in 
                subparagraph (B)),
                    ``(B) a final negative determination by the 
                administering authority or the Commission under section 
                805,
                    ``(C) a determination by the administering 
                authority under section 845(b), with respect to a 
                matter described in paragraph (1)(A) of that section, 
                and
                    ``(D) a determination by the Commission under 
                section 845(a) that results in the revocation of an 
                injurious pricing order.
            ``(3) Exception.--Notwithstanding the 30-day limitation 
        imposed by paragraph (1) with regard to an order described in 
        paragraph (1)(B)(i), a final affirmative determination by the 
        administering authority under section 805 may be contested by 
        commencing an action, in accordance with the provisions of 
        paragraph (1), within 30 days after the date of publication in 
        the Federal Register of a final negative determination by the 
        Commission under section 805.
            ``(4) Procedures and fees.--The procedures and fees set 
        forth in chapter 169 of title 28, United States Code, apply to 
        an action under this section.
    ``(b) Standards of Review.--
            ``(1) Remedy.--The court shall hold unlawful any 
        determination, finding, or conclusion found--
                    ``(A) in an action brought under subparagraph (A) 
                of subsection (a)(1), to be arbitrary, capricious, an 
                abuse of discretion, or otherwise not in accordance 
                with law, or
                    ``(B) in an action brought under subparagraph (B) 
                of subsection (a)(1), to be unsupported by substantial 
                evidence on the record, or otherwise not in accordance 
                with law.
            ``(2) Record for review.--
                    ``(A) In general.--For purposes of this subsection, 
                the record, unless otherwise stipulated by the parties, 
                shall consist of--
                            ``(i) a copy of all information presented 
                        to or obtained by the administering authority 
                        or the Commission during the course of the 
                        administrative proceeding, including all 
                        governmental memoranda pertaining to the case 
                        and the record of ex parte meetings required to 
                        be kept by section 843(a)(2); and
                            ``(ii) a copy of the determination, all 
                        transcripts or records of conferences or 
                        hearings, and all notices published in the 
                        Federal Register.
                    ``(B) Confidential or privileged material.--The 
                confidential or privileged status accorded to any 
                documents, comments, or information shall be preserved 
                in any action under this section. Notwithstanding the 
                preceding sentence, the court may examine, in camera, 
                the confidential or privileged material, and may 
                disclose such material under such terms and conditions 
                as it may order.
    ``(c) Standing.--Any interested party who was a party to the 
proceeding under title VIII shall have the right to appear and be heard 
as a party in interest before the United States Court of International 
Trade in an action under this section. The party filing the action 
shall notify all such interested parties of the filing of an action 
under this section, in the form, manner, and within the time prescribed 
by rules of the court.
    ``(d) Definitions.--For purposes of this section:
            ``(1) Administering authority.--The term `administering 
        authority' has the meaning given that term in section 861(1).
            ``(2) Commission.--The term `Commission' means the United 
        States International Trade Commission.
            ``(3) Interested party.--The term `interested party' means 
        any person described in section 861(17).''.
    (b) Conforming Amendments.--
            (1) Jurisdiction of the court.--Section 1581(c) of title 
        28, United States Code, is amended by inserting ``or 516B'' 
        after ``section 516A''.
            (2) Relief.--Section 2643 of title 28, United States Code, 
        is amended--
                    (A) in subsection (c)(1) by striking ``and (5)'' 
                and inserting ``(5), and (6)''; and
                    (B) in subsection (c) by adding at the end the 
                following new paragraph:
    ``(6) In any civil action under section 516B of the Tariff Act of 
1930, the Court of International Trade may not issue injunctions or any 
other form of equitable relief, except with regard to implementation of 
a countermeasure order under section 468 of that Act, upon a proper 
showing that such relief is warranted.''.

                       TITLE II--OTHER PROVISIONS

SEC. 201. EQUIPMENT AND REPAIR OF VESSELS.

    Section 466 of the Tariff Act of 1930 (19 U.S.C. 1466), is amended 
by adding at the end the following new subsection:
    ``(i) The duty imposed by subsection (a) shall not apply with 
respect to activities occurring in a Shipbuilding Agreement Party, as 
defined in section 861(22), with respect to--
            ``(1) self-propelled seagoing vessels of 100 gross tons or 
        more that are used for transportation of goods or persons or 
        for performance of a specialized service (including, but not 
limited to, ice breakers and dredges), and
            ``(2) tugs of 365 kilowatts or more.
A vessel shall be considered `self-propelled seagoing' if its permanent 
propulsion and steering provide it all the characteristics of self-
navigability in the high seas.''.

SEC. 202. EFFECT OF AGREEMENT WITH RESPECT TO PRIVATE REMEDIES.

    No person other than the United States--
            (1) shall have any cause of action or defense under the 
        Shipbuilding Agreement or by virtue of congressional approval 
        of the agreement, or
            (2) may challenge, in any action brought under any 
        provision of law, any action or inaction by any department, 
        agency, or other instrumentality of the United States, the 
        District of Columbia, any State, any political subdivision of a 
        State, or any territory or possession of the United States on 
        the ground that such action or inaction is inconsistent with 
        such agreement.

SEC. 203. IMPLEMENTING REGULATIONS.

    After the date of the enactment of this Act, the heads of agencies 
with functions under this Act and the amendments made by this Act may 
issue such regulations as may be necessary to ensure that this Act is 
appropriately implemented on the date the Shipbuilding Agreement enters 
into force with respect to the United States.

SEC. 204. AMENDMENTS TO THE MERCHANT MARINE ACT, 1936.

    The Merchant Marine Act, 1936, is amended as follows:
            (1) Section 511(a)(2) (46 App. U.S.C. 1161(a)(2)) is 
        amended by inserting after ``1939,'' the following: ``or, if 
        the vessel is a Shipbuilding Agreement vessel, constructed in a 
        Shipbuilding Agreement Party, but only with regard to moneys 
        deposited, on or after the date on which the Shipbuilding Trade 
        Agreement Act takes effect, into a construction reserve fund 
        established under subsection (b)''.
            (2) Section 601(a) (46 App. U.S.C. 1171(a)) is amended by 
        striking ``, and that such vessel or vessels were built in the 
        United States, or have been documented under the laws of the 
        United States not later than February 1, 1928, or actually 
        ordered and under construction for the account of citizens of 
        the United States prior to such date,'' and inserting ``and 
        that such vessel or vessels were built in the United States, 
        or, if the vessel or vessels are Shipbuilding Agreement 
        vessels, in a Shipbuilding Agreement Party''.
            (3) Section 606(6) (46 App. U.S.C. 1176(6)) is amended by 
        inserting ``or, if the vessel is a Shipbuilding Agreement 
        vessel, in a Shipbuilding Agreement Party or in the United 
        States, before ``, except in an emergency.''.
            (4) Section 607 (46 App. U.S.C. 1177) is amended as 
        follows:
                    (A) Subsection (a) is amended by inserting ``or, if 
                the vessel is a Shipbuilding Agreement vessel, in a 
                Shipbuilding Agreement Party,'' after ``built in the 
                United States''.
                    (B) Subsection (k) is amended as follows:
                            (i) Paragraph (1) is amended by striking 
                        subparagraph (A) and inserting the following:
                    ``(A)(i) constructed in the United States and, if 
                reconstructed, reconstructed in the United States or in 
                a Shipbuilding Agreement Party, or
                    ``(ii) that is a Shipbuilding Agreement vessel and 
                is constructed in a Shipbuilding Agreement Party and, 
                if reconstructed, is reconstructed in a Shipbuilding 
                Agreement Party or in the United States,''.
                            (ii) Paragraph (2)(A) is amended to read as 
                        follows:
                    ``(A)(i) constructed in the United States and, if 
                reconstructed, reconstructed in the United States or in 
                a Shipbuilding Agreement Party, or
                    ``(ii) that is a Shipbuilding Agreement vessel and 
                is constructed in a Shipbuilding Agreement Party and, 
                if reconstructed, is reconstructed in a Shipbuilding 
                Agreement Party or in the United States, but only with 
                regard to moneys deposited into the fund on or after 
                the date on which the Shipbuilding Trade Agreement Act 
                takes effect.''.
            (5) Section 610 (46 App. U.S.C. 1180) is amended by 
        striking ``shall be built in a domestic yard or shall have been 
        documented under the laws of the United States not later than 
        February 1, 1928, or actually ordered and under construction 
        for the account of citizens of the United States prior to such 
        date,'' and inserting ``shall be built in the United States or, 
        if the vessel is a Shipbuilding Agreement vessel, in a 
        Shipbuilding Agreement Party,''.
            (6) Section 901(b)(1) (46 App. U.S.C. 1241(b)(1)) is 
        amended by striking the third sentence and inserting the 
        following:
``For purposes of this section, the term `privately owned United 
States-flag commercial vessels' shall be deemed to include--
            ``(A) any privately owned United States-flag commercial 
        vessel constructed in the United States, and if rebuilt, 
        rebuilt in the United States or in a Shipbuilding Agreement 
        Party on or after the date on which the Shipbuilding Trade 
        Agreement Act takes effect, and
            ``(B) any privately owned vessel constructed in a 
        Shipbuilding Agreement Party on or after the date on which the 
        Shipbuilding Trade Agreement Act takes effect, and if rebuilt, 
        rebuilt in a Shipbuilding Agreement Party or in the United 
        States, that is documented pursuant to chapter 121 of title 46, 
        United States Code.
The term `privately owned United States-flag commercial vessels' shall 
also be deemed to include any cargo vessel that so qualified pursuant 
to section 615 of this Act or this paragraph before the date on which 
the Shipbuilding Trade Agreement Act takes effect. The term `privately 
owned United States-flag commercial vessels' shall not be deemed to 
include any liquid bulk cargo vessel that does not meet the 
requirements of section 3703a of title 46, United States Code.''.
            (7) Section 905 (46 App. U.S.C. 1244) is amended by adding 
        at the end the following:
    ``(h) The term `Shipbuilding Agreement' means the Agreement 
Respecting Normal Competitive Conditions in the Commercial Shipbuilding 
and Repair Industry, which resulted from negotiations under the 
auspices of the Organization for Economic Cooperation and Development, 
and was entered into on December 21, 1994.
    ``(i) The term `Shipbuilding Agreement Party' means a state or 
separate customs territory that is a Party to the Shipbuilding 
Agreement, and with respect to which the United States applies the 
Shipbuilding Agreement.
    ``(j) The term `Shipbuilding Agreement vessel' means a vessel to 
which the Secretary determines Article 2.1 of the Shipbuilding 
Agreement applies.
    ``(k) The term `Export Credit Understanding' means the 
Understanding on Export Credits for Ships which resulted from 
negotiations under the auspices of the Organization for Economic 
Cooperation and Development and was entered into on December 21, 1994.
    ``(l) The term `Export Credit Understanding vessel' means a vessel 
to which the Secretary determines the Export Credit Understanding 
applies.''.
            (8) Section 1104A (46 App. U.S.C. 1274) is amended as 
        follows:
                    (A) Paragraph (5) of subsection (b) is amended to 
                read as follows:
            ``(5) shall bear interest (exclusive of charges for the 
        guarantee and service charges, if any) at rates not to exceed 
        such percent per annum on the unpaid principal as the Secretary 
        determines to be reasonable, taking into account the range of 
        interest rates prevailing in the private market for similar 
        loans and the risks assumed by the Secretary, except that, with 
        respect to Export Credit Understanding vessels, and 
        Shipbuilding Agreement vessels, the obligations shall bear 
        interest at a rate the Secretary determines to be consistent 
        with obligations of the United States under the Export Credit 
        Understanding or the Shipbuilding Agreement, as the case may 
        be;''.
                    (B) Subsection (i) is amended to read as follows:
    ``(i)(1) Except as provided in paragraph (2), the Secretary may 
not, with respect to--
            ``(A) the general 75 percent or less limitation contained 
        in subsection (b)(2),
            ``(B) the 87\1/2\ percent or less limitation contained in 
        the 1st, 2nd, 4th, or 5th proviso to subsection (b)(2) or in 
        section 1112(b), or
            ``(C) the 80 percent or less limitation in the 3rd proviso 
        to such subsection,
establish by rule, regulation, or procedure any percentage within any 
such limitation that is, or is intended to be, applied uniformly to all 
guarantees or commitments to guarantee made under this section that are 
subject to the limitation.
    ``(2) With respect to Export Credit Understanding vessels and 
Shipbuilding Agreement vessels, the Secretary may establish by rule, 
regulation, or procedure a uniform percentage that the Secretary 
determines to be consistent with obligations of the United States under 
the Export Credit Understanding or the Shipbuilding Agreement, as the 
case may be.''.
                    (C) Section 1104B(b) (46 App. U.S.C. 1274a(b)) is 
                amended by striking the period at the end and inserting 
                the following:
``, except that, with respect to Export Credit Understanding vessels 
and Shipbuilding Agreement vessels, the Secretary may establish by 
rule, regulation, or procedure a uniform percentage that the Secretary 
determines to be consistent with obligations of the United States under 
the Export Credit Understanding or the Shipbuilding Agreement, as the 
case may be.''.
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