(A) the likelihood that the proposed unilat-
eral economic sanction will achieve its stated
objectives within the stated period of time; and
(B) the impact of the proposed unilateral
economic sanction on—
(i) humanitarian conditions, including
the impact on conditions in any specific
countries on which the sanctions are pro-
posed to be imposed;
(ii) humanitarian activities of United
States and foreign nongovernmental orga-
nizations;
(iii) relations with United States al-
lies;
(iv) other United States national secu-
rity and foreign policy interests; and
(v) countries and entities other than
those on which the sanction is proposed to
be imposed.
(3) A description and assessment of—
(A) diplomatic and other steps the United
States has taken to accomplish the intended ob-
jectives of the proposed sanction;
(B) the likelihood of multilateral adoption
of comparable measures;
(C) comparable measures undertaken by
other countries;
(D) alternative measures to promote the
same objectives, and an assessment of their po-
tential effectiveness;
(E) any obligations of the United States
under international treaties or trade agreements
with which the proposed sanction may conflict;
(F) the likelihood that the proposed sanc-
tion will lead to retaliation against United
States interests, including agricultural interests;
and
(G) whether the achievement of the objec-
tives of the proposed sanction outweighs any
likely costs to United States foreign policy, na-
tional security, economic, and humanitarian in-
terests, including any potential harm to United
States business, agriculture, and consumers,
and any potential harm to the international
reputation of the United States as a reliable
supplier of products, technology, agricultural
commodities, and services.
(f) 
REPORT
BY
THE
SECRETARY
OF
AGRI-
CULTURE.—Prior to the imposition of a unilateral eco-
nomic sanction by the President, the Secretary of Agri-
culture shall submit to the appropriate committees a re-
port which shall contain an assessment of—
(1) the extent to which any country or countries
proposed to be sanctioned are markets that ac-
counted for, in the preceding calendar year, more
than 3 percent of all export sales from the United
States of any agricultural commodity;
(2) the likelihood that exports of agricultural
commodities from the United States will be affected
by the proposed sanction or by retaliation by any
country proposed to be sanctioned, including specific
commodities which are most likely to be affected;
(3) the likely effect on incomes of producers of
the specific commodities identified by the Secretary;
(4) the extent to which the proposed sanction
would permit foreign suppliers to replace United
States suppliers; and
(5) the likely effect of the prosed sanction on
the reputation of United States farmers as reliable
suppliers of agricultural commodities in general, and
of the specific commodities identified by the Sec-
retary.
(g) REPORT
BY
THE
UNITED
STATES
INTER-
NATIONAL TRADE COMMISSION.—Before imposing a uni-
lateral economic sanction, the President shall make a
timely request to the United States International Trade
Commission for a report on the likely short-term and long-
term costs of the proposed sanction to the United States
economy, including the potential impact on United States
trade performance, employment, and growth, the inter-
national reputation of the United States as a reliable sup-
plier of products, agricultural commodities, technology,
and services, and the economic well-being and inter-
national competitive position of United States industries,
firms, workers, farmers, and communities.
(h) WAIVER IN CASE OF NATIONAL EMERGENCY.—
The President may waive any of the requirements of sub-
sections (a), (b), (c), (e), (f), and (g), in the event that
the President determines that there exists a national
emergency that requires the exercise of the waiver. In the
event of such a waiver, the requirements waived shall be
met during the 60-day period immediately following the
imposition of the unilateral economic sanction, and the
sanction shall terminate 90 days after being imposed un-
less such requirements are met. The President may waive
any of the requirements of paragraphs (1)(B), (1)(D), and
(2) of subsection (d) in the event that the President deter-
mines that the unilateral economic sanction is related to
actual or imminent armed conflict involving the United
States.
(i) SANCTIONS REVIEW COMMITTEE.—The President
shall establish a Sanctions Review Committee to coordi-
nate United States policy regarding unilateral economic
sanctions and to provide appropriate recommendations to
the President prior to decisions regarding such sanctions.
The Committee shall be comprised of—
(1) the Secretary of State;
(2) the Secretary of the Treasury;
(3) the Secretary of Defense;
(4) the Secretary of Agriculture;
(5) the Secretary of Commerce;
(6) the Secretary of Energy;
(7) the United States Trade Representative;
(8) the Director of the Office of Management
and Budget;
(9) the Chairman of the Council of Economic
Advisers;
(10) the Assistant to the President for National
Security Affairs; and
(11) the Assistant to the President for Eco-
nomic Policy.
(j) INAPPLICABILITY OF OTHER PROVISIONS.—This
section applies notwithstanding any other provision of law.
SEC. 8. ANNUAL REPORTS.
(a) ANNUAL REPORT.—Not later than 6 months
after the date of the enactment of this Act, and annually
thereafter, the President shall submit to the appropriate
committees a report detailing with respect to each country
or entity against which a unilateral economic sanction has
been imposed—
(1) the extent to which the sanction has
achieved foreign policy or national security objectives
of the United States with respect to that country or
entity;
(2) the extent to which the sanction has harmed
humanitarian interests in that country, the country
in which that entity is located, or in other countries;
and
(3) the impact of the sanction on other national
security and foreign policy interests of the United
States, including relations with countries friendly to
the United States, and on the United States econ-
omy.
(b) REPORT
BY
THE
UNITED
STATES
INTER-
NATIONAL
TRADE
COMMISSION.—Not later than 6
months after the date of the enactment of this Act, and
annually thereafter, the United States International Trade
Commission shall report to the appropriate committees on
the costs, individually and in the aggregate, of all unilat-
eral economic sanctions in effect under United States law,
regulation, or Executive order. The calculation of such
costs shall include an assessment of the impact of such
measures on the international reputation of the United
States as a reliable supplier of products, agricultural com-
modities, technology, and services.
Æ