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(b) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that—
(1) the appropriate officials in the executive
branch should implement vigorously the call for
Japan to undertake a major regulatory reform in the
telecommunications 
sector, 
the 
so-called 
‘‘Tele-
communications Big Bang’’;
(2) a ‘‘Telecommunications Big Bang’’ must ad-
dress fundamental legislative and regulatory issues
within a strictly defined timeframe;
(3) the new telecommunications regulatory
framework should put competition first in order to
encourage new and innovative businesses to enter the
telecommunications market in Japan;
(4) the Government of Japan should ensure that
Nippon Telegraph and Telephone Corporation (NTT)
and its affiliates (the NTT Group) are prevented from
using their dominant position in the wired and wire-
less market in an anticompetitive manner; and
(5) the Government of Japan should take credible
steps to ensure that competitive carriers have reason-
able, cost-based, and nondiscriminatory access to the
rights-of-way, facilities, and services controlled by
NTT, the NTT Group, other utilities, and the Govern-
ment of Japan, including—
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(A) access to interconnection at market-
based rates;
(B) unrestricted access to unbundled ele-
ments of the network belonging to NTT and the
NTT Group; and
(C) access to public roads for the installa-
tion of facilities.
SEC. 710. REPORTS TO THE FINANCE AND WAYS AND
MEANS COMMITTEES.
(a) REPORTS REGARDING INITIATIVES TO UPDATE
THE INTERNATIONAL MONETARY FUND.—Section 607 of the
Foreign Operations, Export Financing, and Related Appro-
priations Act, 1999 (as contained in section 101(d) of divi-
sion A of the Omnibus Consolidated and Emergency Sup-
plemental Appropriations Act, 1999) (Public Law 105–277;
112 Stat. 2681–224), relating to international financial
programs and reform, is amended—
(1) by inserting ‘‘Finance,’’ after ‘‘Foreign Rela-
tions,’’; and
(2) by inserting ‘‘, Ways and Means,’’ before
‘‘and Banking and Financial Services’’.
(b) REPORTS
ON FINANCIAL STABILIZATION PRO-
GRAMS.—Section 1704(b) of the International Financial
Institutions Act (22 U.S.C. 262r–3(b)) is amended to read
as follows:
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‘‘(b) TIMING.—Not later than March 15, 1999, and
semiannually thereafter, the Secretary of the Treasury shall
submit to the Committees on Banking and Financial Serv-
ices, Ways and Means, and International Relations of the
House of Representatives and the Committees on Finance,
Foreign Relations, and Banking, Housing, and Urban Af-
fairs of the Senate a report on the matters described in sub-
section (a).’’.
(c) ANNUAL REPORT ON THE STATE OF THE INTER-
NATIONAL FINANCIAL SYSTEM, IMF REFORM, AND COMPLI-
ANCE WITH IMF AGREEMENTS.—Section 1705(a) of the
International Financial Institutions Act (22 U.S.C. 262r–
4(a)) is amended by striking ‘‘Committee on Banking and
Financial Services of the House of Representatives and the
Committee on Foreign Relations of the Senate’’ and insert-
ing ‘‘Committees on Banking and Financial Services and
on Ways and Means of the House of Representatives and
the Committees on Finance and on Foreign Relations of
the Senate’’.
(d) AUDITS OF THE IMF.—Section 1706(a) of the
International Financial Institutions Act (22 U.S.C. 262r–
5(a)) is amended by striking ‘‘Committee on Banking and
Financial Services of the House of Representatives and the
Committee on Foreign Relations of the Senate’’ and insert-
ing ‘‘Committees on Banking and Financial Services and
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on Ways and Means of the House of Representatives and
the Committees on Finance and on Foreign Relations of
the Senate’’.
(e) REPORT ON PROTECTION OF BORDERS AGAINST
DRUG TRAFFIC.—Section 629 of the Treasury and General
Government Appropriations Act, 1999 (as contained in sec-
tion 101(h) of division A of the Omnibus Consolidated and
Emergency Supplemental Appropriations Act, 1999) (Pub-
lic Law 105–277; 112 Stat. 2681–522), relating to general
provisions, is amended by adding at the end the following
new paragraph:
‘‘(3) For purposes of paragraph (1), the term ‘appro-
priate congressional committees’ includes the Committee on
Finance of the Senate and the Committee on Ways and
Means of the House of Representatives.’’.
SEC. 711. CLARIFICATION OF SECTION 334 OF THE URU-
GUAY ROUND AGREEMENTS ACT.
(a) IN GENERAL.—Section 334(b)(2) of the Uruguay
Round 
Agreements 
Act 
(19 
U.S.C. 
3592(b)(2)) 
is
amended—
(1) by redesignating subparagraphs (A) and (B)
as clauses (i) and (ii), respectively;
(2) in the matter preceding clause (i) (as redesig-
nated), by striking ‘‘Notwithstanding paragraph
(1)(D)’’ and inserting ‘‘(A) Notwithstanding para-
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graph (1)(D) and except as provided in subpara-
graphs (B) and (C)’’; and
(3) by adding at the end the following:
‘‘(B) Notwithstanding paragraph (1)(C), fabric
classified under the HTS as of silk, cotton, man-made
fiber, or vegetable fiber shall be considered to originate
in, and be the growth, product, or manufacture of, the
country, territory, or possession in which the fabric is
both dyed and printed when accompanied by 2 or
more of the following finishing operations: bleaching,
shrinking, fulling, napping, decating, permanent stiff-
ening, weighting, permanent embossing, or moireing.
‘‘(C) Notwithstanding paragraph (1)(D), goods
classified under HTS heading 6117.10, 6213.00,
6214.00, 6302.22, 6302.29, 6302.52, 6302.53, 6302.59,
6302.92, 6302.93, 6302.99, 6303.92, 6303.99, 6304.19,
6304.93, 6304.99, 9404.90.85, or 9404.90.95, except
for goods classified under such headings as of cotton
or of wool or consisting of fiber blends containing 16
percent or more by weight of cotton, shall be consid-
ered to originate in, and be the growth, product, or
manufacture of, the country, territory, or possession
in which the fabric is both dyed and printed when ac-
companied by 2 or more of the following finishing op-
erations: bleaching, shrinking, fulling, napping,
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decating, permanent stiffening, weighting, permanent
embossing, or moireing.’’.
(b) EFFECTIVE DATE.—The amendments made by this
section apply to goods entered, or withdrawn from ware-
house for consumption, on or after the date of enactment
of this Act.
SEC. 712. CHIEF AGRICULTURAL NEGOTIATOR.
(a) ESTABLISHMENT OF A POSITION.—There is estab-
lished the position of Chief Agricultural Negotiator in the
Office of the United States Trade Representative. The Chief
Agricultural Negotiator shall be appointed by the President,
with the rank of Ambassador, by and with the advice and
consent of the Senate.
(b) FUNCTIONS.—The primary function of the Chief
Agricultural Negotiator shall be to conduct trade negotia-
tions and to enforce trade agreements relating to United
States agricultural products and services. The Chief Agri-
cultural Negotiator shall be a vigorous advocate on behalf
of United States agricultural interests. The Chief Agricul-
tural Negotiator shall perform such other functions as the
United States Trade Representative may direct.
(c) COMPENSATION.—The Chief Agricultural Nego-
tiator shall be paid at the highest rate of basic pay payable
to a member of the Senior Executive Service.
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SEC. 713. REVISION OF RETALIATION LIST OR OTHER RE-
MEDIAL ACTION.
Section 306(b)(2) of the Trade Act of 1974 (19 U.S.C.
2416(b)(2)) is amended—
(1) by striking ‘‘If the’’ and inserting the fol-
lowing:
‘‘(A) 
FAILURE
TO
IMPLEMENT
REC-
OMMENDATION.—If the’’; and
(2) by adding at the end the following:
‘‘(B) REVISION OF RETALIATION LIST AND
ACTION.—
‘‘(i) IN GENERAL.—Except as provided
in clause (ii), in the event that the United
States initiates a retaliation list or takes
any other action described in section
301(c)(1) (A) or (B) against the goods of a
foreign country or countries because of the
failure of such country or countries to im-
plement the recommendation made pursu-
ant to a dispute settlement proceeding
under the World Trade Organization, the
Trade Representative shall periodically re-
vise the list or action to affect other goods
of the country or countries that have failed
to implement the recommendation.
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‘‘(ii) EXCEPTION.—The Trade Rep-
resentative is not required to revise the re-
taliation list or the action described in
clause (i) with respect to a country, if—
‘‘(I) the Trade Representative de-
termines that implementation of a rec-
ommendation made pursuant to a dis-
pute settlement proceeding described in
clause (i) by the country is imminent;
or
‘‘(II) the Trade Representative to-
gether with the petitioner involved in
the initial investigation under this
chapter (or if no petition was filed, the
affected United States industry) agree
that it is unnecessary to revise the re-
taliation list.
‘‘(C) SCHEDULE FOR REVISING LIST OR AC-
TION.—The Trade Representative shall, 120 days
after the date the retaliation list or other section
301(a) action is first taken, and every 180 days
thereafter, review the list or action taken and re-
vise, in whole or in part, the list or action to af-
fect other goods of the subject country or coun-
tries.
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‘‘(D) STANDARDS
FOR
REVISING
LIST
OR
ACTION.—In revising any list or action against
a country or countries under this subsection, the
Trade Representative shall act in a manner that
is most likely to result in the country or coun-
tries implementing the recommendations adopted
in the dispute settlement proceeding or in achiev-
ing a mutually satisfactory solution to the issue
that gave rise to the dispute settlement pro-
ceeding. The Trade Representative shall consult
with the petitioner, if any, involved in the ini-
tial investigation under this chapter.
‘‘(E) RETALIATION LIST.—The term ‘retal-
iation list’ means the list of products of a foreign
country or countries that have failed to comply
with the report of the panel or Appellate Body
of the WTO and with respect to which the Trade
Representative is imposing duties above the level
that would otherwise be imposed under the Har-
monized Tariff Schedule of the United States.’’.
SEC. 714. SENSE OF CONGRESS REGARDING COMPREHEN-
SIVE DEBT RELIEF FOR THE WORLD’S POOR-
EST COUNTRIES.
(a) FINDINGS.—Congress makes the following findings:
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(1) The burden of external debt has become a
major impediment to economic growth and poverty
reduction in many of the world’s poorest countries.
(2) Until recently, the United States Government
and other official creditors sought to address this
problem by rescheduling loans and in some cases pro-
viding limited debt reduction.
(3) Despite such efforts, the cumulative debt of
many of the world’s poorest countries continued to
grow beyond their capacity to repay.
(4) In 1997, the Group of Seven, the World
Bank, and the International Monetary Fund adopted
the Heavily Indebted Poor Countries Initiative
(HIPC), a commitment by the international commu-
nity that all multilateral and bilateral creditors, act-
ing in a coordinated and concerted fashion, would re-
duce poor country debt to a sustainable level.
(5) The HIPC Initiative is currently undergoing
reforms to address concerns raised about country con-
ditionality, the amount of debt forgiven, and the allo-
cation of savings realized through the debt forgiveness
program to ensure that the Initiative accomplishes the
goals of economic growth and poverty alleviation in
the world’s poorest countries.
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(6) Recently, the President requested Congress to
provide additional resources for bilateral debt forgive-
ness and additional United States contributions to
the HIPC Trust Fund.
(b) SENSE OF CONGRESS.—It is the sense of Congress
that—
(1) Congress and the President should work to-
gether, without undue delay and in concert with the
international community, to make comprehensive debt
relief available to the world’s poorest countries in a
manner that promotes economic growth and poverty
alleviation;
(2) this program of bilateral and multilateral
debt relief should be designed to strengthen and ex-
pand the private sector, encourage increased trade
and investment, support the development of free mar-
kets, and promote broad-scale economic growth in
beneficiary countries;
(3) this program of debt relief should also sup-
port the adoption of policies to alleviate poverty and
to ensure that benefits are shared widely among the
population, such as through initiatives to advance
education, improve health, combat AIDS, and pro-
mote clean water and environmental protection;
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(4) these debt relief agreements should be de-
signed and implemented in a transparent manner
and with the broad participation of the citizenry of
the debtor country and should ensure that country
circumstances are adequately taken into account;
(5) no country should receive the benefits of debt
relief if that country does not cooperate with the
United States on terrorism or narcotics enforcement,
is a gross violator of the human rights of its citizens,
or is engaged in conflict or spends excessively on its
military; and
(6) in order to prevent adverse impact on a key
industry in many developing countries, the Inter-
national Monetary Fund must mobilize its own re-
sources for providing debt relief to eligible countries
without allowing gold to reach the open market, or
otherwise adversely affecting the market price of gold.
SEC. 715. REPORT ON TRADE ADJUSTMENT ASSISTANCE
FOR 
AGRICULTURAL 
COMMODITY 
PRO-
DUCERS.
(a) IN GENERAL.—Not later than 4 months after the
date of enactment of this Act, the Secretary of Labor, in
consultation with the Secretary of Agriculture and the Sec-
retary of Commerce, shall submit to the Committee on Ways
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and Means of the House of Representatives and the Com-
mittee on Finance of the Senate a report that—
(1) examines the applicability to agricultural
commodity producers of trade adjustment assistance
programs established under title II of the Trade Act
of 1974; and
(2) sets forth recommendations to improve the
operation of those programs as the programs apply to
agricultural commodity producers or to establish a
new trade adjustment assistance program for agricul-
tural commodity producers.
(b) CONTENTS.—In preparing the report required by
subsection (a), the Secretary of Labor shall—
(1) assess the degree to which the existing trade
adjustment assistance programs address the adverse
effects on agricultural commodity producers due to
price suppression caused by increased imports of like
or directly competitive agricultural commodities; and
(2) examine the effectiveness of the program ben-
efits authorized under subchapter B of chapter 2 and
chapter 3 of title II of the Trade Act of 1974 in rem-
edying the adverse effects, including price suppres-
sion, caused by increased imports of like or directly
competitive agricultural commodities.
(c) DEFINITIONS.—In this section:
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(1) AGRICULTURAL COMMODITY.—The term ‘‘ag-
ricultural commodity’’ means any agricultural com-
modity, including livestock, fish or harvested seafood
in its raw or natural state.
(2) AGRICULTURAL
COMMODITY
PRODUCER.—
The term ‘‘agricultural commodity producer’’ means
any person who is engaged in the production and sale
of an agricultural commodity in the United States
and who owns or shares the ownership and risk of
loss of the agricultural commodity.
SEC. 716. STUDY ON IMPROVING AFRICAN AGRICULTURAL
PRACTICES.
(a) IN GENERAL.—The United States Department of
Agriculture, in consultation with American Land Grant
Colleges and Universities and not-for-profit international
organizations, is authorized to conduct a two-year study on
ways to improve the flow of American farming techniques
and practices to African farmers. The study conducted by
the Department of Agriculture shall include an examina-
tion of ways of improving or utilizing—
(1) knowledge of insect and sanitation proce-
dures;
(2) modern farming and soil conservation tech-
niques;
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(3) modern farming equipment (including main-
taining the equipment);
(4) marketing crop yields to prospective pur-
chasers; and
(5) crop maximization practices.
The study shall be submitted to the Committee on Agri-
culture, Nutrition, and Forestry of the Senate and the Com-
mittee on Agriculture of the House of Representatives not
later than September 30, 2001.
(b) LAND GRANT COLLEGES AND NOT-FOR-PROFIT IN-
STITUTIONS.—The Department of Agriculture is encouraged
to consult with American Land Grant Colleges and not-for-
profit international organizations that have firsthand
knowledge of current African farming practices.
(c) AUTHORIZATION OF FUNDING.—There is author-
ized to be appropriated $2,000,000 to conduct the study de-
scribed in subsection (a).
SEC. 717. ANTICORRUPTION EFFORTS.
(a) FINDINGS.—Congress makes the following findings:
(1) Corruption and bribery of public officials is
a major problem in many African countries and rep-
resents a serious threat to the development of a func-
tioning domestic private sector, to United States busi-
ness and trade interests, and to prospects for democ-
racy and good governance in African countries.
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(2) Of the 17 countries in sub-Saharan Africa
rated by the international watchdog group, Trans-
parency International, as part of the 1998 Corrup-
tion Perception Index, 13 ranked in the bottom half.
(3) The Organization for Economic Cooperation
and Development (OECD) Convention on Combating
Bribery of Foreign Public Officials in International
Business Transactions, which has been signed by all
29 members of the OECD plus Argentina, Brazil,
Bulgaria, Chile, and the Slovak Republic and which
entered into force on February 15, 1999, represents a
significant step in the elimination of bribery and cor-
ruption in international commerce.
(4) As a party to the OECD Convention on
Combating Bribery of Foreign Public Officials in
International Business Transactions, the United
States should encourage the highest standards possible
with respect to bribery and corruption.
(b) SENSE OF CONGRESS.—It is the sense of Congress
that the United States should encourage at every oppor-
tunity the accession of sub-Saharan African countries, as
defined in section 104, to the OECD Convention on Com-
bating Bribery of Foreign Public Officials in International
Business Transactions.
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SEC. 718. SENSE OF THE SENATE REGARDING EFFORTS TO
COMBAT DESERTIFICATION IN AFRICA AND
OTHER NATIONS.
(a) FINDINGS.—Congress finds that—
(1) desertification affects approximately one-
sixth of the world’s population and one-quarter of the
total land area;
(2) over 1,000,000 hectares of Africa are affected
by desertification;
(3) dryland degradation is an underlying cause
of recurrent famine in Africa;
(4) the United Nations Environment Programme
estimates 
that 
desertification 
costs 
the 
world
$42,000,000,000 a year, not including incalculable
costs in human suffering; and
(5) the United States can strengthen its partner-
ships throughout Africa and other nations affected by
desertification, help alleviate social and economic cri-
ses caused by misuse of natural resources, and reduce
dependence on foreign aid, by taking a leading role
to combat desertification.
(b) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that the United States should expeditiously work with
the international community, particularly Africa and other
nations affected by desertification, to—
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(1) strengthen international cooperation to com-
bat desertification;
(2) promote the development of national and re-
gional strategies to address desertification and in-
crease public awareness of this serious problem and
its effects;
(3) develop and implement national action pro-
grams that identify the causes of desertification and
measures to address it; and
(4) recognize the essential role of local govern-
ments and nongovernmental organizations in devel-
oping 
and 
implementing 
measures 
to 
address
desertification.
SEC. 719. REPORT ON WORLD TRADE ORGANIZATION MIN-
ISTERIAL.
(a) SENSE OF CONGRESS.—Congress recognizes the
importance of the new round of international trade negotia-
tions that will be launched at the World Trade Organiza-
tion (WTO) Ministerial Conference in Seattle, Washington,
from November 30 to December 3, 1999.
(b) REPORT.—Not later than February 3, 2000, the
United States Trade Representative shall submit a report
to Congress regarding discussions on the Agreement on Im-
plementation of Article VI of the General Agreement on
Tariffs and Trade 1994 (the Antidumping Agreement) and
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the Agreement on Subsidies and Countervailing Measures
during the Seattle Ministerial Conference. The report shall
include a complete description of such discussions, includ-
ing proposals made to renegotiate those agreements, the
member government making the proposal, and the United
States Trade Representative’s response to the proposal, with
a description as to how the response achieves United States
trade goals.
SEC. 720. MARKING OF IMPORTED JEWELRY.
(a) MARKING REQUIREMENT.—Not later than the date
that is 1 year after the date of enactment of this Act, the
Secretary of the Treasury shall prescribe and implement
regulations that require that all jewelry described in sub-
section (b) that enters the customs territory of the United
States have the English name of the country of origin in-
delibly marked in a conspicuous place on such jewelry by
cutting, die-sinking, engraving, stamping, or some other
permanent method to the same extent as such marking is
required for Native American-style jewelry under section
134.43 of title 19, Code of Federal Regulations, as in effect
on October 1, 1998.
(b) JEWELRY.—The jewelry described in this sub-
section means any article described in heading 7117 of the
Harmonized Tariff Schedule of the United States.
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(c) DEFINITION.—As used in this section, the term
‘‘enters the customs territory of the United States’’ means
enters, or is withdrawn from warehouse for consumption,
in the customs territory of the United States.
SEC. 721. SENSE OF THE SENATE REGARDING TARIFF IN-
VERSIONS.
It is the sense of the Senate that United States trade
policy should, while taking into account the conditions of
United States producers, especially those currently facing
tariff phase-outs negotiated under prior trade agreements,
place a priority on the elimination or amelioration of tariff
inversions that undermine the competitiveness of United
States consuming industries.
SEC. 722. LIMITATIONS ON BENEFITS.
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, no benefits under this Act shall be granted to
any country (or to any designated zone in that country)
that does not meet and effectively enforce the standards re-
garding child labor established by the ILO Convention (No.
182) for the Elimination of the Worst Forms of Child
Labor.
(b) REPORT.—Not later than 12 months after the date
of enactment of this Act and annually thereafter, the Presi-
dent, after consultation with the Trade Policy Review Com-
mittee, shall submit a report to Congress on the enforcement
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of, and compliance with, the standards described in sub-
section (a).
SEC. 723. AGRICULTURE TRADE NEGOTIATING OBJECTIVES
AND CONSULTATIONS WITH CONGRESS.
(a) FINDINGS.—Congress finds that—
(1) United States agriculture contributes posi-
tively to the United States balance of trade and
United States agricultural exports support in excess
of 1,000,000 United States jobs;
(2) United States agriculture competes success-
fully worldwide despite the fact that United States
producers are at a competitive disadvantage because
of the trade distorting support and subsidy practices
of other countries and despite the fact that significant
tariff and nontariff barriers exist to United States ex-
ports; and
(3) a successful conclusion of the next round of
World Trade Organization negotiations is critically
important to the United States agricultural sector.
(b) OBJECTIVES.—The agricultural trade negotiating
objectives of the United States with respect to the World
Trade Organization negotiations include—
(1) immediately eliminating all export subsidies
worldwide while maintaining bona fide food aid and
preserving United States market development and ex-
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port credit programs that allow the United States to
compete with other foreign export promotion efforts;
(2) leveling the playing field for United States
producers of agricultural products by eliminating
blue box subsidies and disciplining domestic supports
in a way that forces producers to face world prices on
all production in excess of domestic food security
needs while allowing the preservation of non-trade
distorting programs to support family farms and
rural communities;
(3) disciplining state trading enterprises by in-
sisting on transparency and banning discriminatory
pricing practices that amount to de facto export sub-
sidies so that the enterprises do not (except in cases
of bona fide food aid) sell in foreign markets at prices
below domestic market prices or prices below the full
costs of acquiring and delivering agricultural prod-
ucts to the foreign markets;
(4) 
insisting 
that 
the 
Sanitary 
and
Phytosanitary Accord agreed to in the Uruguay
Round applies to new technologies, including bio-
technology, and clarifying that labeling requirements
to allow consumers to make choices regarding bio-
technology products or other regulatory requirements
cannot be used as disguised barriers to trade;
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(5) increasing opportunities for United States
exports of agricultural products by first reducing tar-
iff and nontariff barriers to trade to the same or
lower levels than exist in the United States and then
eliminating barriers, such as—
(A) restrictive or trade distorting practices
that adversely impact perishable or cyclical
products;
(B) restrictive rules in the administration
of tariff-rate quotas; and
(C) unjustified sanitary and phytosanitary
restrictions or other unjustified technical barriers
to agricultural trade;
(6) encouraging government policies that avoid
price-depressing surpluses; and
(7) strengthening dispute settlement procedures
so that countries cannot maintain unjustified restric-
tions on United States exports in contravention of
their commitments.
(c) CONSULTATION WITH CONGRESSIONAL COMMIT-
TEES.—
(1) CONSULTATION BEFORE OFFER MADE.—Be-
fore the United States Trade Representative negotiates
a trade agreement that would reduce tariffs on agri-
cultural products or require a change in United
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States agricultural law, the United States Trade Rep-
resentative shall consult with the Committee on Agri-
culture, Nutrition, and Forestry and the Committee
on Finance of the Senate and the Committee on Agri-
culture and the Committee on Ways and Means of the
House of Representatives.
(2) CONSULTATION
BEFORE
AGREEMENT
INI-
TIALED.—Not less than 48 hours before initialing an
agreement relating to agricultural trade negotiated
under the auspices of the World Trade Organization,
the United States Trade Representative shall consult
closely with the committees referred to in paragraph
(1) regarding—
(A) the details of the agreement;
(B) the potential impact of the agreement
on United States agricultural producers; and
(C) any changes in United States law nec-
essary to implement the agreement.
(3) NO SECRET SIDE DEALS.—Any agreement or
other understanding (whether verbal or in writing)
that relates to agricultural trade that is not disclosed
to the Congress before legislation implementing a
trade agreement is introduced in either house of Con-
gress shall not be considered to be part of the agree-
ment approved by Congress and shall have no force
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and effect under United States law or in any dispute
settlement body.
(d) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that—
(1) reaching a successful agreement on agri-
culture should be the top priority of United States ne-
gotiators; and
(2) if the primary competitors of the United
States do not reduce their trade distorting domestic
supports and export subsidies in accordance with the
negotiating objectives expressed in this section, the
United States should take steps to increase the lever-
age of United States negotiators and level the playing
field for United States producers in order to improve
United States farm income and to encourage United
States competitors to eliminate export subsidies and
domestic supports that are harmful to United States
farmers and ranchers.
SEC. 724. APPLICATION OF DENIAL OF FOREIGN TAX CRED-
IT REGARDING TRADE AND INVESTMENT
WITH RESPECT TO CERTAIN FOREIGN COUN-
TRIES.
(a) IN GENERAL.—Section 901(j) of the Internal Rev-
enue Code of 1986 (relating to denial of foreign tax credit,
etc., regarding trade and investment with respect to certain
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foreign countries) is amended by adding at the end the fol-
lowing new paragraph:
‘‘(5) WAIVER OF DENIAL.—
‘‘(A) IN
GENERAL.—Paragraph (1) shall
not apply with respect to taxes paid or accrued
to a country if the President—
‘‘(i) determines that a waiver of the
application of such paragraph is in the na-
tional interest of the United States and will
expand trade and investment opportunities
for United States companies in such coun-
try, and
‘‘(ii) reports such waiver under sub-
paragraph (B).
‘‘(B) REPORT.—Not less than 30 days be-
fore the date on which a waiver is granted under
this paragraph, the President shall report to
Congress—
‘‘(i) the intention to grant such waiver,
and
‘‘(ii) the reason for the determination
under subparagraph (A)(i).’’.
(b) EFFECTIVE DATE.—The amendment made by this
section shall apply on or after February 1, 2001.
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SEC. 725. UNREASONABLE ACTS, POLICIES, AND PRAC-
TICES.
Section 301(d)(3)(B)(i) of the Trade Act of 1974 (19
U.S.C. 2411(d)(3)(B)(i)) is amended by striking subclause
(IV) and inserting the following:
‘‘(IV) market opportunities, including
the toleration by a foreign government of
systematic anticompetitive activities, which
include predatory pricing, discriminatory
pricing, or pricing below cost of production
by enterprises or among enterprises in the
foreign country (including state trading en-
terprises and state corporations) if the acts,
policies, or practices are inconsistent with
commercial practices and have the effect of
restricting access of United States goods or
services to the foreign market or third coun-
try markets,’’.
Amend the title so as to read: ‘‘An Act to authorize
a new trade and investment policy for sub-Saharan Afri-
ca, expand trade benefits to the countries in the Carib-
bean Basin, renew the generalized system of preferences,
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and reauthorize the trade adjustment assistance pro-
grams.’’.
Attest:
Secretary.
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