(1) PROCLAMATION
AUTHORITY.—After the 
date of the enactment of this Act— 
(A) the President may proclaim such ac-
tions, and 
(B) other appropriate officers of the 
United States Government may issue such reg-
ulations, 
as may be necessary to ensure that any provision of 
this Act, or amendment made by this Act, that takes 
effect on the date on which the Agreement enters 
into force is appropriately implemented on such 
date, but no such proclamation or regulation may 
have an effective date earlier than the date on which 
the Agreement enters into force. 
(2) EFFECTIVE DATE OF CERTAIN PROCLAIMED 
ACTIONS.—Any action proclaimed by the President 
under the authority of this Act that is not subject 
to the consultation and layover provisions under sec-
tion 104 may not take effect before the 15th day 
after the date on which the text of the proclamation 
is published in the Federal Register. 
(3) WAIVER OF 15-DAY RESTRICTION.—The 15- 
day restriction contained in paragraph (2) on the 
taking effect of proclaimed actions is waived to the 
extent that the application of such restriction would 
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prevent the taking effect on the date on which the 
Agreement enters into force of any action pro-
claimed under this section. 
(b) INITIAL REGULATIONS.—Initial regulations nec-
essary or appropriate to carry out the actions required by 
or authorized under this Act or proposed in the statement 
of 
administrative 
action 
submitted 
under 
section 
101(a)(2) to implement the Agreement shall, to the max-
imum extent feasible, be issued within 1 year after the 
date on which the Agreement enters into force. In the case 
of any implementing action that takes effect on a date 
after the date on which the Agreement enters into force, 
initial regulations to carry out that action shall, to the 
maximum extent feasible, be issued within 1 year after 
such effective date. 
SEC. 104. CONSULTATION AND LAYOVER PROVISIONS FOR, 
AND EFFECTIVE DATE OF, PROCLAIMED AC-
TIONS. 
If a provision of this Act provides that the implemen-
tation of an action by the President by proclamation is 
subject to the consultation and layover requirements of 
this section, such action may be proclaimed only if— 
(1) the President has obtained advice regarding 
the proposed action from— 
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(A) the appropriate advisory committees 
established under section 135 of the Trade Act 
of 1974 (19 U.S.C. 2155); and 
(B) the Commission; 
(2) the President has submitted to the Com-
mittee on Finance of the Senate and the Committee 
on Ways and Means of the House of Representatives 
a report that sets forth— 
(A) the action proposed to be proclaimed 
and the reasons therefor; and 
(B) the advice obtained under paragraph 
(1); 
(3) a period of 60 calendar days, beginning on 
the first day on which the requirements set forth in 
paragraphs (1) and (2) have been met, has expired; 
and 
(4) the President has consulted with the com-
mittees referred to in paragraph (2) regarding the 
proposed action during the period referred to in 
paragraph (3). 
SEC. 105. ADMINISTRATION OF DISPUTE SETTLEMENT PRO-
CEEDINGS. 
(a) ESTABLISHMENT OR DESIGNATION OF OFFICE.— 
The President is authorized to establish or designate with-
in the Department of Commerce an office that shall be 
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responsible for providing administrative assistance to pan-
els established under chapter 22 of the Agreement. The 
office shall not be considered to be an agency for purposes 
of section 552 of title 5, United States Code. 
(b) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated for each fiscal year after 
fiscal year 2011 to the Department of Commerce up to 
$750,000 for the establishment and operations of the of-
fice established or designated under subsection (a) and for 
the payment of the United States share of the expenses 
of panels established under chapter 22 of the Agreement. 
SEC. 106. ARBITRATION OF CLAIMS. 
The United States is authorized to resolve any claim 
against 
the 
United 
States 
covered 
by 
article 
11.16.1(a)(i)(C) or article 11.16.1(b)(i)(C) of the Agree-
ment, pursuant to the Investor-State Dispute Settlement 
procedures set forth in section B of chapter 11 of the 
Agreement. 
SEC. 107. EFFECTIVE DATES; EFFECT OF TERMINATION. 
(a) EFFECTIVE DATES.—Except as provided in sub-
section (b), this Act and the amendments made by this 
Act take effect on the date on which the Agreement enters 
into force. 
(b) EXCEPTIONS.— 
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(1) IN GENERAL.—Sections 1 through 3, sec-
tion 207(g), this title, and title V take effect on the 
date of the enactment of this Act. 
(2) CERTAIN AMENDATORY PROVISIONS.—The 
amendments made by sections 203, 204, 206, and 
401 of this Act take effect on the date of the enact-
ment of this Act and apply with respect to Korea on 
the date on which the Agreement enters into force. 
(c) TERMINATION
OF
THE AGREEMENT.—On the 
date on which the Agreement terminates, this Act (other 
than this subsection and title V) and the amendments 
made by this Act (other than the amendments made by 
title V) shall cease to have effect. 
TITLE II—CUSTOMS PROVISIONS 
SEC. 201. TARIFF MODIFICATIONS. 
(a) TARIFF MODIFICATIONS PROVIDED FOR IN THE 
AGREEMENT.—The President may proclaim— 
(1) such modifications or continuation of any 
duty, 
(2) such continuation of duty-free or excise 
treatment, or 
(3) such additional duties, 
as the President determines to be necessary or appropriate 
to carry out or apply articles 2.3, 2.5, and 2.6, and Annex 
2-B, Annex 4-B, and Annex 22-A, of the Agreement. 
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(b) OTHER TARIFF MODIFICATIONS.—Subject to the 
consultation and layover provisions of section 104, the 
President may proclaim— 
(1) such modifications or continuation of any 
duty, 
(2) such modifications as the United States 
may agree to with Korea regarding the staging of 
any duty treatment set forth in Annex 2-B of the 
Agreement, 
(3) such continuation of duty-free or excise 
treatment, or 
(4) such additional duties, 
as the President determines to be necessary or appropriate 
to maintain the general level of reciprocal and mutually 
advantageous concessions with respect to Korea provided 
for by the Agreement. 
(c) CONVERSION TO AD VALOREM RATES.—For pur-
poses of subsections (a) and (b), with respect to any good 
for which the base rate in the Schedule of the United 
States to Annex 2-B of the Agreement is a specific or com-
pound rate of duty, the President may substitute for the 
base rate an ad valorem rate that the President deter-
mines to be equivalent to the base rate. 
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