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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2372 Introduced in Senate (IS)]

  2d Session
                                S. 2372

 To amend the Trade Act of 1974 regarding identifying trade expansion 
                              priorities.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             April 29, 2004

Mr. Corzine (for himself, Mr. Baucus, Mr. Daschle, and Mr. Lautenberg) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL

 
 To amend the Trade Act of 1974 regarding identifying trade expansion 
                              priorities.

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

SECTION 1. IDENTIFICATION OF TRADE EXPANSION PRIORITIES.

    Section 310 of the Trade Act of 1974 is amended to read as follows:

``SEC. 310. IDENTIFICATION OF TRADE EXPANSION PRIORITIES.

    ``(a) Identification.--
            ``(1) Identification and report.--Within 30 days after the 
        submission in each of calendar year 2005 through 2009 of the 
        report required by section 181(b), the Trade Representative 
        shall--
                    ``(A) review United States trade expansion 
                priorities;
                    ``(B) identify priority foreign country practices, 
                the elimination of which is likely to have the most 
                significant potential to increase United States 
                exports, either directly or through the establishment 
                of a beneficial precedent; and
                    ``(C) submit to the Committee on Finance of the 
                Senate and the Committee on Ways and Means of the House 
                of Representatives and publish in the Federal Register 
                a report on the priority foreign country practices 
                identified.
            ``(2) Factors.--In identifying priority foreign country 
        practices under paragraph (1), the Trade Representative shall 
        take into account all relevant factors, including--
                    ``(A) the major barriers and trade distorting 
                practices described in the National Trade Estimate 
                Report required under section 181(b);
                    ``(B) the trade agreements to which a foreign 
                country is a party and its compliance with those 
                agreements;
                    ``(C) the medium- and long-term implications of 
                foreign government procurement plans; and
                    ``(D) the international competitive position and 
                export potential of United States products and 
                services.
            ``(3) Contents of report.--The Trade Representative may 
        include in the report, if appropriate--
                    ``(A) a description of foreign country practices 
                that may in the future warrant identification as 
                priority foreign country practices; and
                    ``(B) a statement about other foreign country 
                practices that were not identified because they are 
                already being addressed by provisions of United States 
                trade law, by existing bilateral trade agreements, or 
                as part of trade negotiations with other countries and 
                progress is being made toward the elimination of such 
                practices.
    ``(b) Initiation of Consultations.--By no later than the date that 
is 21 days after the date on which a report is submitted to the 
appropriate congressional committees under subsection (a)(1), the Trade 
Representative shall seek consultations with each foreign country 
identified in the report as engaging in priority foreign country 
practices for the purpose of reaching a satisfactory resolution of such 
priority practices.
    ``(c) Initiation of Investigation.--If a satisfactory resolution of 
priority foreign country practices has not been reached under 
subsection (b) within 90 days after the date on which a report is 
submitted to the appropriate congressional committees under subsection 
(a)(1), the Trade Representative shall initiate under section 302(b)(1) 
an investigation under this chapter with respect to such priority 
foreign country practices.
    ``(d) Agreements for the Elimination of Barriers.--In the 
consultations with a foreign country that the Trade Representative is 
required to request under section 303(a) with respect to an 
investigation initiated by reason of subsection (c), the Trade 
Representative shall seek to negotiate an agreement that provides for 
the elimination of the practices that are the subject of the 
investigation as quickly as possible or, if elimination of the 
practices is not feasible, an agreement that provides for compensatory 
trade benefits.
    ``(e) Reports.--The Trade Representative shall include in the 
semiannual report required by section 309 a report on the status of any 
investigations initiated pursuant to subsection (c) and, where 
appropriate, the extent to which such investigations have led to 
increased opportunities for the export of products and services of the 
United States.''.
                                 <all>
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