[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2621 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 2621

To extend trade authorities procedures with respect to reciprocal trade 
                  agreements, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 7, 1997

  Mr. Archer (for himself, Mr. Crane, and Mr. Dreier) introduced the 
following bill; which was referred to the Committee on Ways and Means, 
     and in addition to the Committee on Rules, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL


 
To extend trade authorities procedures with respect to reciprocal trade 
                  agreements, and for other purposes.

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

                 TITLE I--TRADE AUTHORITIES PROCEDURES

SEC. 101. SHORT TITLE.

    This title may be cited as the ``Reciprocal Trade Agreement 
Authorities Act of 1997''.

SEC. 102. TRADE NEGOTIATING OBJECTIVES.

    (a) Overall Trade Negotiating Objectives.--The overall trade 
negotiating objectives of the United States for agreements subject to 
the provisions of section 103 are--
            (1) to obtain more open, equitable, and reciprocal market 
        access;
            (2) to obtain the reduction or elimination of barriers and 
        distortions that are directly related to trade and that 
        decrease market opportunities for United States exports or 
        otherwise distort United States trade;
            (3) to further strengthen the system of international 
        trading disciplines and procedures, including dispute 
        settlement; and
            (4) to foster economic growth, raise living standards, and 
        promote full employment in the United States and to enhance the 
        global economy.
    (b) Principal Trade Negotiating Objectives.--
            (1) Trade barriers and distortions.--The principal 
        negotiating objectives of the United States regarding trade 
        barriers and other trade distortions are--
                    (A) to expand competitive market opportunities for 
                United States exports and to obtain fairer and more 
                open conditions of trade by reducing or eliminating 
                tariff and nontariff barriers and policies and 
                practices of foreign governments directly related to 
                trade that decrease market opportunities for United 
                States exports or otherwise distort United States 
                trade; and
                    (B) to obtain reciprocal tariff and nontariff 
                barrier elimination agreements, with particular 
                attention to those tariff categories covered in section 
                111(b) of the Uruguay Round Agreements Act (19 U.S.C. 
                3521(b)).
            (2) Trade in services.--The principal negotiating objective 
        of the United States regarding trade in services is to reduce 
        or eliminate barriers to international trade in services, 
        including regulatory and other barriers that deny national 
        treatment and unreasonably restrict the establishment and 
        operations of service suppliers.
            (3) Foreign investment.--The principal negotiating 
        objective of the United States regarding foreign investment is 
        to reduce or eliminate artificial or trade-distorting barriers 
        to trade related foreign investment by--
                    (A) reducing or eliminating exceptions to the 
                principle of national treatment;
                    (B) freeing the transfer of funds relating to 
                investments;
                    (C) reducing or eliminating performance 
                requirements and other unreasonable barriers to the 
                establishment and operation of investments;
                    (D) seeking to establish standards for 
                expropriation and compensation for expropriation, 
                consistent with United States legal principles and 
                practice; and
                    (E) providing meaningful procedures for resolving 
                investment disputes.
            (4) Intellectual property.--The principal negotiating 
        objectives of the United States regarding trade-related 
        intellectual property are--
                    (A) to further promote adequate and effective 
                protection of intellectual property rights, including 
                through--
                            (i)(I) ensuring accelerated and full 
                        implementation of the Agreement on Trade-
                        Related Aspects of Intellectual Property Rights 
                        referred to in section 101(d)(15) of the 
                        Uruguay Round Agreements Act (19 U.S.C. 
                        3511(d)(15)),
                            (II) achieving improvements in the 
                        standards of that Agreement, particularly with 
                        respect to United States industries whose 
                        products are subject to the lengthiest 
                        transition periods for full compliance by 
                        developing countries with that Agreement; and
                            (III) ensuring that the provisions of any 
                        multilateral or bilateral trade agreement 
                        entered into by the United States provide 
                        protection at least as strong as the protection 
                        afforded by chapter 17 of the North American 
                        Free Trade Agreement and the annexes thereto;
                            (ii) providing strong protection for new 
                        and emerging technologies and new methods of 
                        transmitting and distributing products 
                        embodying intellectual property;
                            (iii) preventing or eliminating 
                        discrimination with respect to matters 
                        affecting the availability, acquisition, scope, 
                        maintenance, use, and enforcement of 
                        intellectual property rights; and
                            (iv) providing strong enforcement of 
                        intellectual property rights, including through 
                        accessible, expeditious, and effective civil, 
                        administrative, and criminal enforcement 
                        mechanisms; and
                    (B) to secure fair, equitable, and 
                nondiscriminatory market access opportunities for 
                United States persons that rely upon intellectual 
                property protection.
            (5) Transparency.--The principal negotiating objective of 
        the United States with respect to transparency is to obtain 
        broader application of the principle of transparency through--
                    (A) increased and more timely public access to 
                information regarding trade issues and the activities 
                of international trade institutions; and
                    (B) increased openness of dispute settlement 
                proceedings, including under the World Trade 
                Organization.
            (6) Reciprocal trade in agriculture.--The principal 
        negotiating objective of the United States with respect to 
        agriculture is to obtain competitive opportunities for United 
        States exports in foreign markets substantially equivalent to 
        the competitive opportunities afforded foreign exports in 
        United States markets and to achieve fairer and more open 
        conditions of trade in bulk and value-added commodities by--
                    (A) reducing or eliminating, by a date certain, 
                tariffs or other charges that decrease market 
                opportunities for United States exports--
                            (i) giving priority to those products that 
                        are subject to significantly higher tariffs or 
                        subsidy regimes of major producing countries; 
                        and
                            (ii) providing reasonable adjustment 
                        periods for United States import-sensitive 
                        products;
                    (B) reducing or eliminating subsidies that decrease 
                market opportunities for United States exports or 
                unfairly distort agriculture markets to the detriment 
                of the United States;
                    (C) developing, strengthening, and clarifying rules 
                and effective dispute settlement mechanisms to 
                eliminate practices that unfairly decrease United 
                States market access opportunities or distort 
                agricultural markets to the detriment of the United 
                States, particularly with respect to import-sensitive 
                products, including--
                            (i) unfair or trade-distorting activities 
                        of state trading enterprises and other 
                        administrative mechanisms;
                            (ii) unjustified trade restrictions or 
                        commercial requirements affecting new 
                        technologies, including biotechnology;
                            (iii) unjustified sanitary or phytosanitary 
                        restrictions, including those not based on 
                        sound science in contravention of the Uruguay 
                        Round Agreements;
                            (iv) other unjustified technical barriers 
                        to trade; and
                            (v) restrictive rules in the administration 
                        of tariff rate quotas;
                    (D) improving import relief mechanisms to recognize 
                the unique characteristics of perishable agriculture;
                    (E) taking into account whether a party to the 
                negotiations has failed to adhere to the provisions of 
already existing trade agreements with the United States or has 
circumvented obligations under those agreements;
                    (F) taking into account whether a product is 
                subject to market distortions by reason of a failure of 
                a major producing country to adhere to the provisions 
                of already existing trade agreements with the United 
                States or by the circumvention by that country of its 
                obligations under those agreements; and
                    (G) otherwise ensuring that countries that accede 
                to the World Trade Organization have made meaningful 
                market liberalization commitments in agriculture.
            (7) Labor, the environment, and other matters.--The 
        principal negotiating objective of the United States regarding 
        labor, the environment, and other matters is to address the 
        following aspects of foreign government policies and practices 
        regarding labor, the environment, and other matters that are 
        directly related to trade:
                    (A) To ensure that foreign labor, environmental, 
                health, or safety policies and practices do not 
                arbitrarily or unjustifiably discriminate or serve as 
                disguised barriers to trade.
                    (B) To ensure that foreign governments do not 
                derogate from or waive existing domestic environmental, 
                health, safety, or labor measures, including measures 
                that deter exploitative child labor, as an 
                encouragement to gain competitive advantage in 
                international trade or investment. Nothing in this 
                subparagraph is intended to address changes to a 
                country's laws that are nondiscriminatory and 
                consistent with sound macroeconomic development.
            (8) WTO extended negotiations.--The principal negotiating 
        objectives of the United States regarding trade in financial 
        services are those set forth in section 135(a) of the Uruguay 
        Round Agreements Act (19 U.S.C. 3555(a)), regarding trade in 
        civil aircraft are those set forth in section 135(c) of that 
        Act, and regarding rules of origin are the conclusion of an 
        agreement described in section 132 of that Act (19 U.S.C. 
        3552).
    (c) International Economic Policy Objectives.--
            (1) In general.--The President should take into account the 
        relationship between trade agreements and other important 
        priorities of the United States and seek to ensure that the 
        trade agreements entered into by the United States complement 
        and reinforce other policy goals. The United States priorities 
        in this area include--
                    (A) seeking to ensure that trade and environmental 
                policies are mutually supportive;
                    (B) seeking to protect and preserve the environment 
                and enhance the international means for doing so, while 
                optimizing the use of the world's resources;
                    (C) promoting the respect for worker rights and the 
                rights of children and an understanding of the 
                relationship between trade and worker rights, 
                particularly by working with the International Labor 
                Organization to encourage the observance and enforcing 
                of core labor standards, including exploitative child 
                labor; and
                    (D) supplementing and strengthening standards for 
                protection of intellectual property under conventions 
                administered by international organizations other than 
                the World Trade Organization, expanding the conventions 
                to cover new and emerging technologies, and eliminating 
                discrimination and unreasonable exceptions or 
                preconditions to such protection.
            (2) Applicability of trade authorities procedures.--Nothing 
        in this subsection shall be construed to authorize the use of 
        the trade authorities procedures described in section 103 to 
        modify United States law.
    (d) Guidance for Negotiators.--
            (1) Domestic objectives.--In pursuing the negotiating 
        objectives described in subsection (b), the negotiators on 
        behalf of the United States shall take into account United 
        States domestic objectives, including the protection of health 
        and safety, essential security, environmental, consumer, and 
        employment opportunity interests, and the law and regulations 
        related thereto.
            (2) Consultations with congressional advisers and 
        enforcement of the trade laws.--In the course of negotiations 
        conducted under this title, the United States Trade 
        Representative shall--
                    (A) consult closely and on a timely basis with, and 
                keep fully apprised of the negotiations, the 
                congressional advisers on trade policy and negotiations 
                appointed under section 161 of the Trade Act of 1974; 
                and
                    (B) take into account the need for the United 
                States to retain the ability to enforce rigorously its 
                trade laws in order to ensure that United States 
                workers, agricultural producers, and firms can compete 
                on fair terms and enjoy the benefits of reciprocal 
                trade concessions.
    (e) Adherence to Obligations Under Uruguay Round Agreements.--In 
determining whether to enter into negotiations with a particular 
country, the President shall take into account the extent to which that 
country has implemented, or has accelerated the implementation of, its 
obligations under the Uruguay Round Agreements.

SEC. 103. TRADE AGREEMENTS AUTHORITY.

    (a) Agreements Regarding Tariff Barriers.--
            (1) In general.--Whenever the President determines that one 
        or more existing duties or other import restrictions of any 
        foreign country or the United States are unduly burdening and 
        restricting the foreign trade of the United States and that the 
        purposes, policies, and objectives of this title will be 
        promoted thereby, the President--
                    (A) may enter into trade agreements with foreign 
                countries before--
                            (i) October 1, 2001, or
                            (ii) October 1, 2005, if trade authorities 
                        procedures are extended under subsection (c), 
                        and
                    (B) may, subject to paragraphs (2) and (3), 
                proclaim--
                            (i) such modification or continuance of any 
                        existing duty, or
                            (ii) such continuance of existing duty-free 
                        or excise treatment,
                as the President determines to be required or 
                appropriate to carry out any such trade agreement. The 
                President shall notify the Congress of the President's 
                intention to enter into an agreement under this 
                subsection.
            (2) Limitations.--No proclamation may be made under 
        paragraph (1) that--
                    (A) reduces any rate of duty (other than a rate of 
                duty that does not exceed 5 percent ad valorem on the 
                date of the enactment of this Act) to a rate of duty 
                which is less than 50 percent of the rate of such duty 
                that applies on such date of enactment; or
                    (B) reduces the rate of duty on an article to take 
                effect on a date that is more than 10 years after the 
                first reduction that is proclaimed to carry out a trade 
                agreement with respect to such article.
            (3) Aggregate reduction; exemption from staging.--
                    (A) Aggregate reduction.--Except as provided in 
                subparagraph (B), the aggregate reduction in the rate 
                of duty on any article which is in effect on any day 
                pursuant to a trade agreement entered into under 
                paragraph (1) shall not exceed the aggregate reduction 
                which would have been in effect on such day if--
                            (i) a reduction of 3 percent ad valorem or 
                        a reduction of one-tenth of the total 
                        reduction, whichever is greater, had taken 
                        effect on the effective date of the first 
                        reduction proclaimed under paragraph (1) to 
                        carry out such agreement with respect to such 
                        article; and
                            (ii) a reduction equal to the amount 
                        applicable under clause (i) had taken effect at 
                        1-year intervals after the effective date of 
                        such first reduction.
                    (B) Exemption from staging.--No staging is required 
                under subparagraph (A) with respect to a duty reduction 
                that is proclaimed under paragraph (1) for an article 
                of a kind that is not produced in the United States. 
                The United States International Trade Commission shall 
                advise the President of the identity of articles that 
                may be exempted from staging under this subparagraph.
            (4) Rounding.--If the President determines that such action 
        will simplify the computation of reductions under paragraph 
        (3), the President may round an annual reduction by an amount 
        equal to the lesser of--
                    (A) the difference between the reduction without 
                regard to this paragraph and the next lower whole 
                number; or
                    (B) one-half of 1 percent ad valorem.
            (5) Other limitations.--A rate of duty reduction that may 
        not be proclaimed by reason of paragraph (2) may take effect 
        only if a provision authorizing such reduction is included 
        within an implementing bill provided for under section 105 and 
        that bill is enacted into law.
            (6) Other tariff modifications.--Notwithstanding paragraphs 
        (1)(B) and (2) through (5), and subject to the consultation and 
        layover requirements of section 115 of the Uruguay Round 
        Agreements Act, the President may proclaim the modification of 
        any duty or staged rate reduction of any duty set forth in 
        Schedule XX, as defined in section 2(5) of that Act, if the 
        United States agrees to such modification or staged rate 
        reduction in a negotiation for the reciprocal elimination or 
        harmonization of duties under the auspices of the World Trade 
Organization or as part of an interim agreement leading to the 
formation of a regional free-trade area.
            (7) Authority under uruguay round agreements act not 
        affected.--Nothing in this subsection shall limit the authority 
        provided to the President under section 111(b) of the Uruguay 
        Round Agreements Act (19 U.S.C. 3521(b)).
    (b) Agreements Regarding Tariff and Nontariff Barriers.--
            (1) In general.--(A) Whenever the President determines 
        that--
                    (i) one or more existing duties or any other import 
                restriction of any foreign country or the United States 
                or any other barrier to, or other distortion of, 
                international trade unduly burdens or restricts the 
                foreign trade of the United States or adversely affects 
                the United States economy, or
                    (ii) the imposition of any such barrier or 
                distortion is likely to result in such a burden, 
                restriction, or effect,
        and that the purposes, policies, and objectives of this title 
        will be promoted thereby, the President may enter into a trade 
        agreement described in subparagraph (B) during the period 
        described in subparagraph (C).
            (B) The President may enter into a trade agreement under 
        subparagraph (A) with foreign countries providing for--
                    (i) the reduction or elimination of a duty, 
                restriction, barrier, or other distortion described in 
                subparagraph (A), or
                    (ii) the prohibition of, or limitation on the 
                imposition of, such barrier or other distortion.
            (C) The President may enter into a trade agreement under 
        this paragraph before--
                    (i) October 1, 2001, or
                    (ii) October 1, 2005, if trade authorities 
                procedures are extended under subsection (c).
            (2) Conditions.--A trade agreement may be entered into 
        under this subsection only if such agreement makes progress in 
        meeting the applicable objectives described in section 102 and 
        the President satisfies the conditions set forth in section 
        104.
            (3) Bills qualifying for trade authorities procedures.--The 
        provisions of section 151 of the Trade Act of 1974 (in this 
        title referred to as ``trade authorities procedures'') apply to 
        a bill of either House of Congress consisting only of--
                    (A) a provision approving a trade agreement entered 
                into under this subsection and approving the statement 
                of administrative action, if any, proposed to implement 
                such trade agreement,
                    (B) provisions directly related to the principal 
                trade negotiating objectives set forth in section 
                102(b) achieved in such trade agreement, if those 
                provisions are necessary for the operation or 
                implementation of United States rights or obligations 
                under such trade agreement,
                    (C) provisions that define and clarify, or 
                provisions that are related to, the operation or effect 
                of the provisions of the trade agreement,
                    (D) provisions to provide adjustment assistance to 
                workers and firms adversely affected by trade, and
                    (E) provisions necessary for purposes of complying 
                with section 252 of the Balanced Budget and Emergency 
                Deficit Control Act of 1985 in implementing the trade 
                agreement,
        to the same extent as such section 151 applies to implementing 
        bills under that section. A bill to which this subparagraph 
        applies shall hereafter in this title be referred to as an 
        ``implementing bill''.
    (c) Extension Disapproval Process for Congressional Trade 
Authorities Procedures.--
            (1) In general.--Except as provided in section 105(b)--
                    (A) the trade authorities procedures apply to 
                implementing bills submitted with respect to trade 
                agreements entered into under subsection (b) before 
                October 1, 2001; and
                    (B) the trade authorities procedures shall be 
                extended to implementing bills submitted with respect 
                to trade agreements entered into under subsection (b) 
                after September 30, 2001, and before October 1, 2005, 
                if (and only if)--
                            (i) the President requests such extension 
                        under paragraph (2); and
                            (ii) neither House of the Congress adopts 
                        an extension disapproval resolution under 
                        paragraph (5) before October 1, 2001.
            (2) Report to congress by the president.--If the President 
        is of the opinion that the trade authorities procedures should 
        be extended to implementing bills described in paragraph 
        (1)(B), the President shall submit to the Congress, not later 
than July 1, 2001, a written report that contains a request for such 
extension, together with--
                    (A) a description of all trade agreements that have 
                been negotiated under subsection (b) and the 
                anticipated schedule for submitting such agreements to 
                the Congress for approval;
                    (B) a description of the progress that has been 
                made in negotiations to achieve the purposes, policies, 
                and objectives of this title, and a statement that such 
                progress justifies the continuation of negotiations; 
                and
                    (C) a statement of the reasons why the extension is 
                needed to complete the negotiations.
            (3) Report to congress by the advisory committee.--The 
        President shall promptly inform the Advisory Committee for 
        Trade Policy and Negotiations established under section 135 of 
        the Trade Act of 1974 (19 U.S.C. 2155) of the President's 
        decision to submit a report to the Congress under paragraph 
        (2). The Advisory Committee shall submit to the Congress as 
        soon as practicable, but not later than August 1, 2001, a 
        written report that contains--
                    (A) its views regarding the progress that has been 
                made in negotiations to achieve the purposes, policies, 
                and objectives of this title; and
                    (B) a statement of its views, and the reasons 
                therefor, regarding whether the extension requested 
                under paragraph (2) should be approved or disapproved.
            (4) Reports may be classified.--The reports submitted to 
        the Congress under paragraphs (2) and (3), or any portion of 
        such reports, may be classified to the extent the President 
        determines appropriate.
            (5) Extension disapproval resolutions.--(A) For purposes of 
        paragraph (1), the term ``extension disapproval resolution'' 
        means a resolution of either House of the Congress, the sole 
        matter after the resolving clause of which is as follows: 
        ``That the ____ disapproves the request of the President for 
        the extension, under section 103(c)(1)(B)(i) of the Reciprocal 
        Trade Agreement Authorities Act of 1997, of the provisions of 
        section 151 of the Trade Act of 1974 to any implementing bill 
        submitted with respect to any trade agreement entered into 
        under section 103(b) of the Reciprocal Trade Agreement 
        Authorities Act of 1997 after September 30, 2001.'', with the 
        blank space being filled with the name of the resolving House 
        of the Congress.
            (B) Extension disapproval resolutions--
                    (i) may be introduced in either House of the 
                Congress by any member of such House; and
                    (ii) shall be jointly referred, in the House of 
                Representatives, to the Committee on Ways and Means and 
                the Committee on Rules.
            (C) The provisions of sections 152(d) and (e) of the Trade 
        Act of 1974 (19 U.S.C. 2192(d) and (e)) (relating to the floor 
        consideration of certain resolutions in the House and Senate) 
        apply to extension disapproval resolutions.
            (D) It is not in order for--
                    (i) the Senate to consider any extension 
                disapproval resolution not reported by the Committee on 
                Finance;
                    (ii) the House of Representatives to consider any 
                extension disapproval resolution not reported by the 
                Committee on Ways and Means and the Committee on Rules; 
                or
                    (iii) either House of the Congress to consider an 
                extension disapproval resolution after September 30, 
                2001.

SEC. 104. CONSULTATIONS.

    (a) Notice and Consultation Before Negotiation.--
            (1) In general.--The President, with respect to any 
        agreement that is subject to the provisions of section 103(b), 
        shall--
                    (A) provide, at least 90 calendar days before 
                initiating negotiations, written notice to the Congress 
                of the President's intention to enter into the 
                negotiations and set forth therein the date the 
                President intends to initiate such negotiations, the 
                specific United States objectives for the negotiations, 
                and whether the President intends to seek an agreement, 
                or changes to an existing agreement; and
                    (B) before and after submission of the notice, 
                consult regarding the negotiations with the Committee 
                on Finance of the Senate and the Committee on Ways and 
                Means of the House of Representatives and such other 
                committees of the House and Senate as the President 
                deems appropriate.
            (2) Consultations regarding negotiations on certain 
        objectives.--
                    (A) Consultation.--In addition to the requirements 
                set forth in paragraph (1), before initiating 
                negotiations with respect to a trade agreement entered 
                into under section 103(b) in which the subject matter 
                is directly related to the principal trade negotiating 
                objectives set forth in section 2(b)(1) or section 
                102(b)(7), the President shall consult with the 
                Committee on Ways and Means of the House of 
                Representatives and the Committee on Finance of the 
                Senate and with the appropriate industry sector 
                advisory groups established under section 135 of the 
                Trade Act of 1974 with respect to such negotiations.
                    (B) Scope.--The consultations described in 
                subparagraph (A) shall concern the manner in which the 
                negotiation will address the objective of reducing or 
                eliminating a specific tariff or nontariff barrier or 
                foreign government policy or practice directly related 
                to trade that decreases market opportunities for United 
                States exports or otherwise distorts United States 
                trade.
            (3) Negotiations regarding agriculture.--Before initiating 
        negotiations under section 102(b)(6)(A) with any country, the 
        President shall assess whether United States tariffs on 
        agriculture products that were bound under the Uruguay Round 
        Agreements are lower than the tariffs bound by that country. In 
        addition, the President shall consider whether the tariff 
        levels bound and applied throughout the world with respect to 
        imports from the United States are higher than United States 
        tariffs and whether the negotiation provides an opportunity to 
        address any such disparity. The President shall consult with 
        the Committee on Ways and Means and the Committee on 
        Agriculture of the House of Representatives and the Committee 
        on Finance and the Committee on Agriculture, Nutrition, and 
        Forestry of the Senate concerning the results of the 
        assessment, whether it is appropriate for the United States to 
        agree to further tariff reductions based on the conclusions 
        reached in the assessment, and how all applicable negotiating 
        objectives will be met.
    (b) Consultation With Congress Before Agreements Entered Into.--
            (1) Consultation.--Before entering into any trade agreement 
        under section 103(b), the President shall consult with--
                    (A) the Committee on Ways and Means of the House of 
                Representatives and the Committee on Finance of the 
                Senate; and
                    (B) each other committee of the House and the 
                Senate, and each joint committee of the Congress, which 
                has jurisdiction over legislation involving subject 
                matters which would be affected by the trade agreement.
            (2) Scope.--The consultation described in paragraph (1) 
        shall include consultation with respect to--
                    (A) the nature of the agreement;
                    (B) how and to what extent the agreement will 
                achieve the applicable purposes, policies, and 
                objectives of this title; and
                    (C) the implementation of the agreement under 
                section 105.
    (c) Advisory Committee Reports.--The report required under section 
135(e)(1) of the Trade Act of 1974 regarding any trade agreement 
entered into under section 103(a) or (b) of this Act shall be provided 
to the President, the Congress, and the United States Trade 
Representative not later than 30 days after the date on which the 
President notifies the Congress under section 103(a)(1) or 105(a)(1)(A) 
of the President's intention to enter into the agreement.

SEC. 105. IMPLEMENTATION OF TRADE AGREEMENTS.

    (a) In General.--
            (1) Notification and submission.--Any agreement entered 
        into under section 103(b) shall enter into force with respect 
        to the United States if (and only if)--
                    (A) the President, at least 90 calendar days before 
                the day on which the President enters into the trade 
                agreement, notifies the House of Representatives and 
                the Senate of the President's intention to enter into 
                the agreement, and promptly thereafter publishes notice 
                of such intention in the Federal Register;
                    (B) within 60 days after entering into the 
                agreement, the President submits to the Congress a 
                description of those changes to existing laws that the 
                President considers would be required in order to bring 
                the United States into compliance with the agreement;
                    (C) after entering into the agreement, the 
                President submits a copy of the final legal text of the 
                agreement, together with--
                            (i) a draft of an implementing bill 
                        described in section 103(b)(3);
                            (ii) a statement of any administrative 
                        action proposed to implement the trade 
                        agreement; and
                            (iii) the supporting information described 
                        in paragraph (2); and
                    (D) the implementing bill is enacted into law.
            (2) Supporting information.--The supporting information 
        required under paragraph (1)(C)(iii) consists of--
                    (A) an explanation as to how the implementing bill 
                and proposed administrative action will change or 
                affect existing law; and
                    (B) a statement--
                            (i) asserting that the agreement makes 
                        progress in achieving the applicable purposes, 
                        policies, and objectives of this title;
                            (ii) setting forth the reasons of the 
                        President regarding--
                                    (I) how and to what extent the 
                                agreement makes progress in achieving 
                                the applicable purposes, policies, and 
                                objectives referred to in clause (i);
                                    (II) whether and how the agreement 
                                changes provisions of an agreement 
                                previously negotiated;
                                    (III) how the agreement serves the 
                                interests of United States commerce; 
                                and
                                    (IV) how the implementing bill 
                                complies with section 103(b)(3).
            (3) Reciprocal benefits.--In order to ensure that a foreign 
        country that is not a party to a trade agreement entered into 
        under section 103(b) does not receive benefits under the 
        agreement unless the country is also subject to the obligations 
        under the agreement, the implementing bill submitted with 
        respect to the agreement shall provide that the benefits and 
        obligations under the agreement apply only to the parties to 
        the agreement, if such application is consistent with the terms 
        of the agreement. The implementing bill may also provide that 
        the benefits and obligations under the agreement do not apply 
        uniformly to all parties to the agreement, if such application 
        is consistent with the terms of the agreement.
    (b) Limitations on Trade Authorities Procedures.--
            (1) For lack of consultations.--
                    (A) In general.--The trade authorities procedures 
                shall not apply to any implementing bill submitted with 
                respect to a trade agreement entered into under section 
                103(b) if during the 60-day period beginning on the 
                date that one House of Congress agrees to a procedural 
                disapproval resolution for lack of notice or 
                consultations with respect to that trade agreement, the 
                other House separately agrees to a procedural 
                disapproval resolution with respect to that agreement.
                    (B) Procedural disapproval resolution.--For 
                purposes of this paragraph, the term ``procedural 
                disapproval resolution'' means a resolution of either 
                House of Congress, the sole matter after the resolving 
                clause of which is as follows: ``That the President has 
                failed or refused to notify or consult (as the case may 
                be) with Congress in accordance with section 104 or 105 
                of the Reciprocal Trade Agreement Authorities Act of 
                1997 on negotiations with respect to, or entering into, 
                a trade agreement to which section 103(b) of that Act 
                applies and, therefore, the provisions of section 151 
                of the Trade Act of 1974 shall not apply to any 
                implementing bill submitted with respect to that trade 
                agreement.''.
            (2) Procedures for considering resolutions.--(A) Procedural 
        disapproval resolutions--
                    (i) in the House of Representatives--
                            (I) shall be introduced by the chairman or 
                        ranking minority member of the Committee on 
                        Ways and Means or the chairman or ranking 
                        minority member of the Committee on Rules;
                            (II) shall be jointly referred to the 
                        Committee on Ways and Means and the Committee 
                        on Rules; and
                            (III) may not be amended by either 
                        Committee; and
                    (ii) in the Senate shall be original resolutions of 
                the Committee on Finance.
            (B) The provisions of section 152(d) and (e) of the Trade 
        Act of 1974 (19 U.S.C. 2192(d) and (e)) (relating to the floor 
        consideration of certain resolutions in the House and Senate) 
        apply to procedural disapproval resolutions.
            (C) It is not in order for the House of Representatives to 
        consider any procedural disapproval resolution not reported by 
        the Committee on Ways and Means and the Committee on Rules.
    (c) Rules of House of Representatives and Senate.--Subsection (b) 
of this section and section 103(c) are enacted by the Congress--
            (1) as an exercise of the rulemaking power of the House of 
        Representatives and the Senate, respectively, and as such are 
        deemed a part of the rules of each House, respectively, and 
        such procedures supersede other rules only to the extent that 
        they are inconsistent with such other rules; and
            (2) with the full recognition of the constitutional right 
        of either House to change the rules (so far as relating to the 
        procedures of that House) at any time, in the same manner, and 
        to the same extent as any other rule of that House.

SEC. 106. TREATMENT OF CERTAIN TRADE AGREEMENTS.

    (a) Certain Agreements.--Notwithstanding section 103(b)(2), if an 
agreement to which section 103(b) applies--
            (1) is entered into under the auspices of the World Trade 
        Organization regarding trade in information technology 
        products,
            (2) is entered into under the auspices of the World Trade 
        Organization regarding extended negotiations on financial 
        services as described in section 135(a) of the Uruguay Round 
        Agreements Act (19 U.S.C. 3555(a)),
            (3) is entered into under the auspices of the World Trade 
        Organization regarding the rules of origin work program 
        described in Article 9 of the Agreement on Rules of Origin 
        referred to in section 101(d)(10) of the Uruguay Round 
        Agreements Act (19 U.S.C. 3511(d)(10)), or
            (4) is entered into with Chile,
and results from negotiations that were commenced before the date of 
the enactment of this Act, subsection (b) shall apply.
    (b) Treatment of Agreements.--In the case of any agreement to which 
subsection (a) applies--
            (1) the applicability of the trade authorities procedures 
        to implementing bills for be determined without regard to the 
        requirements of section 104(a), and any procedural disapproval 
        resolution under section 105(b)(1)(B) shall not be in order 
        with respect to the provisions of section 104(a); and
            (2) consultations under section 104(a) that would be 
        required prior to initiation of negotiations shall be made as 
        soon as feasible after the enactment of this Act.

SEC. 107. CONFORMING AMENDMENTS.

    (a) In General.--Title I of the Trade Act of 1974 (19 U.S.C. 2111 
et seq.) is amended as follows:
            (1) Implementing bill.--
                    (A) Section 151(b)(1) (19 U.S.C. 2191(b)(1)) is 
                amended by striking ``section 1103(a)(1) of the Omnibus 
                Trade and Competitiveness Act of 1988, or section 282 
                of the Uruguay Round Agreements Act'' and inserting 
                ``section 282 of the Uruguay Round Agreements Act, or 
                section 105(a)(1) of the Reciprocal Trade Agreement 
                Authorities Act of 1997''.
                    (B) Section 151(c)(1) (19 U.S.C. 2191(c)(1)) is 
                amended by striking ``or section 282 of the Uruguay 
                Round Agreements Act'' and inserting ``, section 282 of 
                the Uruguay Round Agreements Act, or section 105(a)(1) 
                of the Reciprocal Trade Agreement Authorities Act of 
                1997''.
            (2) Advice from international trade commission.--Section 
        131 (19 U.S.C. 2151) is amended--
                    (A) in subsection (a)--
                            (i) in paragraph (1), by striking ``section 
                        123 of this Act or section 1102 (a) or (c) of 
                        the Omnibus Trade and Competitiveness Act of 
                        1988,'' and inserting ``section 123 of this Act 
                        or section 103(a) or (b) of the Reciprocal 
                        Trade Agreement Authorities Act of 1997,''; and
                            (ii) in paragraph (2), by striking 
                        ``section 1102 (b) or (c) of the Omnibus Trade 
                        and Competitiveness Act of 1988'' and inserting 
                        ``section 103(b) of the Reciprocal Trade 
                        Agreement Authorities Act of 1997'';
                    (B) in subsection (b), by striking ``section 
                1102(a)(3)(A)'' and inserting ``section 103(a)(3)(A) of 
                the Reciprocal Trade Agreement Authorities Act of 
                1997'' before the end period; and
                    (C) in subsection (c), by striking ``section 1102 
                of the Omnibus Trade and Competitiveness Act of 1988,'' 
                and inserting ``section 103 of the Reciprocal Trade 
                Agreement Authorities Act of 1997,''.
            (3) Hearings and advice.--Sections 132, 133(a), and 134(a) 
        (19 U.S.C. 2152, 2153(a), and 2154(a)) are each amended by 
        striking ``section 1102 of the Omnibus Trade and 
        Competitiveness Act of 1988,'' each place it appears and 
        inserting ``section 103 of the Reciprocal Trade Agreement 
        Authorities Act of 1997,''.
            (4) Prerequisites for offers.--Section 134(b) (19 U.S.C. 
        2154(b)) is amended by striking ``section 1102 of the Omnibus 
        Trade and Competitiveness Act of 1988'' and inserting ``section 
        103 of the Reciprocal Trade Agreement Authorities Act of 
        1997''.
            (5) Advice from private and public sectors.--Section 135 
        (19 U.S.C. 2155) is amended--
                    (A) in subsection (a)(1)(A), by striking ``section 
                1102 of the Omnibus Trade and Competitiveness Act of 
                1988'' and inserting ``section 103 of the Reciprocal 
                Trade Agreement Authorities Act of 1997'';
                    (B) in subsection (e)(1)--
                            (i) by striking ``section 1102 of the 
                        Omnibus Trade and Competitiveness Act of 1988'' 
                        each place it appears and inserting ``section 
                        103 of the Reciprocal Trade Agreement 
                        Authorities Act of 1997''; and
                            (ii) by striking ``section 1103(a)(1)(A) of 
                        such Act of 1988'' and inserting ``section 
                        105(a)(1)(A) of the Reciprocal Trade Agreement 
                        Authorities Act of 1997''; and
                    (C) in subsection (e)(2), by striking ``section 
                1101 of the Omnibus Trade and Competitiveness Act of 
                1988'' and inserting ``section 102 of the Reciprocal 
                Trade Agreement Authorities Act of 1997''.
            (6) Transmission of agreements to congress.--Section 162(a) 
        (19 U.S.C. 2212(a)) is amended by striking ``or under section 
        1102 of the Omnibus Trade and Competitiveness Act of 1988'' and 
        inserting ``or under section 103 of the Reciprocal Trade 
        Agreement Authorities Act of 1997''.
    (b) Application of Certain Provisions.--For purposes of applying 
sections 125, 126, and 127 of the Trade Act of 1974 (19 U.S.C. 2135, 
2136(a), and 2137)--
            (1) any trade agreement entered into under section 103 
        shall be treated as an agreement entered into under section 101 
        or 102, as appropriate, of the Trade Act of 1974 (19 U.S.C. 
        2111 or 2112); and
            (2) any proclamation or Executive order issued pursuant to 
        a trade agreement entered into under section 103 shall be 
        treated as a proclamation or Executive order issued pursuant to 
        a trade agreement entered into under section 102 of the Trade 
        Act of 1974.

SEC. 108. DEFINITIONS.

    In this title:
            (1) United states person.--The term ``United States 
        person'' means--
                    (A) a United States citizen;
                    (B) a partnership, corporation, or other legal 
                entity organized under the laws of the United States; 
                and
                    (C) a partnership, corporation, or other legal 
                entity that is organized under the laws of a foreign 
                country and is controlled by entities described in 
                subparagraph (B) or United States citizens, or both.
            (2) Uruguay round agreements.--The term ``Uruguay Round 
        Agreements'' has the meaning given that term in section 2(7) of 
        the Uruguay Round Agreements Act (19 U.S.C. 3501(7)).
            (3) World trade organization.--The term ``World Trade 
        Organization'' means the organization established pursuant to 
        the WTO Agreement.
            (4) WTO agreement.--The term ``WTO Agreement'' means the 
        Agreement Establishing the World Trade Organization entered 
        into on April 15, 1994.

                 TITLE II--TRADE ADJUSTMENT ASSISTANCE

SEC. 201. ADJUSTMENT ASSISTANCE FOR WORKERS.

    Section 245 of the Trade Act of 1974 (19 U.S.C. 2317) is amended--
            (1) in subsection (a) by striking ``1993'' and all that 
        follows through ``1998'' and inserting ``1998, 1999, and 
        2000''; and
            (2) in subsection (b) by striking ``1994'' and all that 
        follows through ``1998'' and inserting ``1998, 1999, and 
        2000''.

SEC. 202. ADJUSTMENT ASSISTANCE FOR FIRMS.

    Section 256(b) of the Trade Act of 1974 (19 U.S.C. 2346(b)) is 
amended by striking ``1993'' and all that follows through ``1998'' and 
inserting ``1998, 1999, and 2000''.

SEC. 203. GENERAL ACCOUNTING OFFICE REPORT.

    Section 280(a) of the Trade Act of 1974 (19 U.S.C. 2391(a)) is 
amended--
            (1) by striking ``2, 3, and 4'' and inserting ``2 and 3''; 
        and
            (2) by striking ``January 31, 1980'' and inserting 
        ``October 1, 1999''.

SEC. 204. TERMINATION.

    Section 285(c) of the Trade Act of 1974 (19 U.S.C. 2271 note) is 
amended in paragraphs (1) and (2)(A)(i) by striking ``1998'' and 
inserting ``2000''.

SEC. 205. EFFECTIVE DATE.

    The amendments made by this title take effect on the date of the 
enactment of this Act.

                     TITLE III--REVENUE PROVISIONS

SEC. 301. REPEAL OF SPECIAL RULE FOR RENTAL USE OF VACATION HOMES, 
              ETC., FOR LESS THAN 15 DAYS.

    (a) In General.--Section 280A of the Internal Revenue Code of 1986 
(relating to disallowance of certain expenses in connection with 
business use of home, rental of vacation homes, etc.) is amended by 
striking subsection (g).
    (b) No Basis Reduction Unless Depreciation Claimed.--Section 1016 
of such Code is amended by redesignating subsection (e) as subsection 
(f) and by inserting after subsection (d) the following new subsection:
    ``(e) Special Rule Where Rental Use of Vacation Home, Etc., for 
Less Than 15 Days.--If a dwelling unit is used during the taxable year 
by the taxpayer as a residence and such dwelling unit is actually 
rented for less than 15 days during the taxable year, the reduction 
under subsection (a)(2) by reason of such rental use in any taxable 
year beginning after December 31, 1997, shall not exceed the 
depreciation deduction allowed for such rental use.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1997.
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