[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 1083 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                S. 1083

 To direct the President to withhold extension of the WTO Agreement to 
 any country that is not complying with its obligations under the New 
                York Convention, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                July 27 (legislative day, July 10), 1995

  Mr. Thomas introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To direct the President to withhold extension of the WTO Agreement to 
 any country that is not complying with its obligations under the New 
                York Convention, and for other purposes.
    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 ``New York Convention Compliance 
Act''.

SEC. 2. ACCESSION OF CERTAIN COUNTRIES TO THE WTO.

    Section 1106 of the Omnibus Trade and Competitiveness Act of 1988 
(19 U.S.C. 2905) is amended--
            (1) by redesignating subsection (e) as subsection (f),
            (2) by inserting after subsection (d) the following new 
        subsection:
    ``(e) Additional Requirements Relating to Obligations Under the New 
York Convention.--
            ``(1) In general.--In addition to the requirements 
        described in subsection (a), before any country that is a party 
        to the New York Convention accedes to the WTO Agreement, the 
        President shall determine whether the country is fulfilling its 
        obligations under the New York Convention.
            ``(2) Effects of negative determination.--If the President 
        determines that a country is not fulfilling its obligations 
        under the New York Convention--
                    ``(A) the President shall reserve the right of the 
                United States to withhold extension of the application 
                of the WTO Agreement between the United States and the 
                country, and
                    ``(B) the WTO Agreement shall not apply between the 
                United States and the country until--
                            ``(i) the President certifies to the 
                        Congress that the country is fulfilling its 
                        obligations under the New York Convention, or
                            ``(ii) a bill submitted under subsection 
                        (c) which approves the extension of the 
                        application of the WTO Agreement between the 
                        United States and the country is enacted into 
                        law.
            ``(3) New york convention.--For purposes of this 
        subsection, the term `New York Convention' means the Convention 
        on Recognition and Enforcement of Foreign Arbitral Awards, done 
        at New York, June 10, 1958.'',
            (3) in subsection (d), by striking ``subsection (a)'' and 
        inserting ``subsections (a) and (e)'', and
            (4) by amending the heading for such section to read as 
        follows: ``accession of state trading regimes and certain other 
        countries to the general agreement on tariffs and trade or the 
        wto.''.
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