[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1254 Placed on Calendar Senate (PCS)]





                                                       Calendar No. 163

106th CONGRESS

  1st Session

                                S. 1254

_______________________________________________________________________

                                 A BILL

  To establish a comprehensive strategy for the elimination of market-
distorting practices affecting the global steel industry, and for other 
                               purposes.

_______________________________________________________________________

                             June 21, 1999

                 Read twice and placed on the calendar





                                                       Calendar No. 163
106th CONGRESS
  1st Session
                                S. 1254

  To establish a comprehensive strategy for the elimination of market-
distorting practices affecting the global steel industry, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 21, 1999

    Mr. Roth, from the Committee on Finance, reported the following 
     original bill; which was read twice and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
  To establish a comprehensive strategy for the elimination of market-
distorting practices affecting the global steel industry, 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Steel Trade 
Enforcement Act of 1999''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings; purpose.
Sec. 3. Definitions.
     TITLE I--COMPREHENSIVE STRATEGY FOR THE ELIMINATION OF MARKET-
         DISTORTING FACTORS AFFECTING THE GLOBAL STEEL INDUSTRY

Sec. 101. Directive to the Trade Representative.
Sec. 102. Appointment of coordinator and establishment of interagency 
                            working group.
Sec. 103. Consultation and reporting requirements.
Sec. 104. Investigations by International Trade Commission.
                     TITLE II--SAFEGUARD AMENDMENTS

Sec. 201. Amendments to chapter 1 of title II of the Trade Act of 1974.
                TITLE III--TIMELY RELEASE OF IMPORT DATA

Sec. 301. Amendments to section 332 of the Tariff Act of 1930.
Sec. 302. Early release of import data.
Sec. 303. Amendment to Tariff Act of 1930.
Sec. 304. Product monitoring.
             TITLE IV--INTERNATIONAL FINANCIAL INSTITUTIONS

Sec. 401. International financial institution lending.
                     TITLE V--SUSPENSION AGREEMENTS

Sec. 501. Industry or worker support for suspension agreements.

SEC. 2. FINDINGS; PURPOSE.

    (a) Findings.--Congress makes the following findings:
            (1) The steel industry worldwide faces a continuing glut of 
        steelmaking capacity.
            (2) The glut of steelmaking capacity is the result of 
        foreign government intervention in the market that encouraged 
        investment in steel production that would not have been 
        warranted under competitive market conditions.
            (3) Foreign governments continue to intervene in the steel 
        market--
                    (A) by imposing tariffs and quotas on imported 
                steel;
                    (B) by providing government subsidies for steel 
                production and for the export of steel products;
                    (C) by maintaining government ownership of 
                steelmaking capacity;
                    (D) by providing, at below market rates, input 
                materials used to produce steel;
                    (E) by steering investment toward steelmaking 
                capacity on terms inconsistent with competitive market 
                conditions; and
                    (F) by tolerating private anticompetitive practices 
                that have the effect of insulating foreign steel 
                manufacturers from the capital market pressures faced 
                by the United States industry.
            (4) Over the last decade, the United States steel industry 
        has undergone a significant restructuring that has made the 
        industry among the most productive in the world.
            (5) The United States steel industry is a globally 
        competitive producer of all steel products.
            (6) The United States steel industry faces a significant 
        challenge due to the economic fallout from financial 
        instability and economic mismanagement abroad.
            (7) The collapse of the demand for steel in foreign markets 
        led foreign producers, that benefit from many of the government 
        practices identified in paragraph (3), to shift their sales to 
        the United States market, resulting in a dramatic surge in 
        steel imports in the past 2 years at dumped or subsidized 
        prices.
            (8) The surge in imports is the most recent of several 
        challenges that have confronted the United States steel 
        industry since the 1960s, causing severe dislocations.
            (9) In the absence of United States action to eliminate the 
        market-distorting practices that led to the current glut of 
        steelmaking capacity worldwide, the United States industry is 
        likely to face similar surges in the future despite the sharp 
        improvements in the competitiveness of the United States steel 
        industry.
            (10) Congressional action is required to provide impetus to 
        the creation of a comprehensive strategy to eliminate the 
        market-distorting practices that are the underlying source of 
        the challenges facing the United States steel industry today.
    (b) Purposes.--The purpose of this Act is to facilitate the 
elimination of practices that have led to global overcapacity in steel 
production on terms inconsistent with competitive market conditions.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Trade representative.--The term ``Trade 
        Representative'' means the United States Trade Representative.
            (2) Comprehensive strategy.--The term ``comprehensive 
        strategy'' means the comprehensive strategy for the elimination 
        of market-distorting practices described in section 101(c) and 
        includes the findings that led to the development of the 
        strategy.

     TITLE I--COMPREHENSIVE STRATEGY FOR THE ELIMINATION OF MARKET-
        DISTORTING PRACTICES AFFECTING THE GLOBAL STEEL INDUSTRY

SEC. 101. DIRECTIVE TO THE TRADE REPRESENTATIVE.

    (a) Initiation of Investigation.--Not later than 45 days after the 
date of enactment of this Act, the Trade Representative shall initiate 
an investigation under section 302(b) of the Trade Act of 1974 of 
market-distorting practices of foreign governments that have insulated 
foreign steel producers from competitive pressures and have contributed 
to the investment in, and development of, steel manufacturing capacity 
on terms inconsistent with competitive market conditions. The 
provisions of sections 302(b)(1)(B), 303, and 304 of the Trade Act of 
1974 shall not apply to the investigation conducted pursuant to this 
subsection.
    (b) Identification of Priority Foreign Market-Distorting 
Practices.--
            (1) In general.--In the course of the investigation 
        described in subsection (a), the Trade Representative shall 
        identify the priority foreign market-distorting practices that 
        have the greatest impact on the United States steel industry as 
        targets for further action under subsection (d).
            (2) Annual identification.--The Trade Representative shall 
        annually update and publish in the Federal Register a list of 
        the priority foreign market-distorting practices that have the 
        greatest impact on the United States steel industry as targets 
        for further action under title III of the Trade Act of 1974 (19 
        U.S.C. 2411 et seq.) or any other provision of law.
            (3) Initiation of investigation.--
                    (A) In general.--By no later than the date that is 
                30 days after the date on which a practice is 
                identified under paragraph (2), initiate an 
                investigation under section 302(b) of the Trade Act of 
                1974 with respect to such practice if--
                            (i) at that time the practice is not the 
                        subject of any other investigation or action 
                        under this title or under title III of the 
                        Trade Act of 1974; and
                            (ii) the foreign government, with respect 
                        to which a priority foreign market-distorting 
                        practice has been identified, fails to take 
                        steps to eliminate the practice.
                    (B) Exception.--The Trade Representative shall not 
                be required to initiate an investigation under 
                subparagraph (A) with respect to any practice of a 
                foreign country if the Trade Representative determines 
                that the initiation of the investigation would be 
                detrimental to the economic interest of the United 
                States and so certifies to Congress.
    (c) Comprehensive Strategy.--
            (1) In general.--The Trade Representative shall, as a 
        result of the investigation required under subsection (a)--
                    (A) develop a comprehensive strategy for the 
                elimination of the market-distorting practices 
                identified under subsection (b)(1); and
                    (B) not later than 6 months after the date of 
                enactment of this Act, submit to the President the 
                comprehensive strategy including the findings that led 
                to the development of the strategy.
            (2) Factors to be considered.--In developing the 
        comprehensive strategy under this subsection, the Trade 
        Representative shall consider all relevant factors, including--
                    (A) the market-distorting practices described in 
                subsection (a);
                    (B) the impact of foreign market-distorting 
                practices on the United States economy generally and on 
                the United States steel industry and its workers, and 
                steel-using industry and its workers specifically;
                    (C) the extent to which a foreign country's market-
                distorting practices are prohibited under the trade 
agreements to which that foreign country is a party;
                    (D) the extent to which a foreign country's market-
                distorting practices are prohibited under existing 
                commitments made by that foreign country to an 
                international financial institution (as defined in 
                section 401(b));
                    (E) the extent to which a foreign government's 
                failure to enforce its antimonopoly law leads to 
                market-distorting practices; and
                    (F) the views of the public, the United States 
                steel industry and its workers, and steel-using 
                industries.
            (3) Notice; public hearing.--The Trade Representative shall 
        hold at least one public hearing on the comprehensive strategy 
        to consider all relevant factors. Not later than 45 days after 
        the date of enactment of this Act, the Trade Representative 
        shall publish in the Federal Register notice of the 
        investigation and the public hearing to be conducted under this 
        section.
    (d) Recommendations for Action.--The Trade Representative shall 
include within the strategy described in subsection (c), 
recommendations for action to address the foreign market-distorting 
practices identified in subsection (b)(1) and a schedule for 
implementing any action recommended. The recommendations shall include, 
where appropriate, one or more of the following actions:
            (1) Negotiations on a multilateral or bilateral basis to 
        liberalize trade in steel products worldwide, including--
                    (A) the elimination of tariffs, quantitative 
                restraints, licensing requirements, or any other 
                barrier to imports of steel products that have the 
                effect of insulating foreign steel producers from 
                competition;
                    (B) the elimination of any export or production 
                subsidies provided by foreign governments to steel 
                producers, including the elimination of the practice of 
                providing capital or input materials at below-market 
                rates or other practices that have the effect of 
                distorting the terms of trade or encouraging investment 
                in steel manufacturing capacity on terms inconsistent 
                with competitive market conditions;
                    (C) the elimination of restrictions on capital 
                movement or investment that--
                            (i) allow foreign governments to insulate 
                        manufacturers from the competitive effects of a 
                        functioning global capital market; or
                            (ii) otherwise permit foreign governments 
                        to direct financing to steel manufacturers 
                        regardless of market conditions;
                    (D) the privatization of any state-owned steel 
                manufacturing capacity where government ownership 
                permits the manufacturer to operate on terms 
                inconsistent with competitive market conditions; and
                    (E) the elimination of administrative guidance by a 
                foreign government to its steel producers that leads to 
                market-distorting practices or prevents the removal of 
                market-distorting practices.
            (2) Initiation of action under section 201 of the Trade Act 
        of 1974 (19 U.S.C. 2251).
            (3) Use of the authority available to the President under 
        section 122 of the Trade Act of 1974 (19 U.S.C. 2132).
            (4) Initiation of a countervailing duty investigation under 
        title VII of the Tariff Act of 1930 (19 U.S.C. 1671 et seq.).
            (5) Initiation of an antidumping duty investigation under 
        title VII of the Tariff Act of 1930.
            (6) Initiation of an action under section 302 of the Trade 
        Act of 1974 (19 U.S.C. 2412).
            (7) Consideration by the Attorney General or the Chairman 
        of the Federal Trade Commission of evidence of anticompetitive 
        behavior in foreign markets that has the effect of insulating 
        foreign steel producers from competitive pressures of the 
        marketplace and leads to adverse impacts in the United States 
        market, including--
                    (A) private anticompetitive behavior, such as 
                cartelization;
                    (B) governmental toleration of anticompetitive 
                behavior; and
                    (C) governmental action that encourages, requires 
                or prevents the elimination of anticompetitive 
                behavior.
            (8) Any other action the Trade Representative deems 
        appropriate.
    (e) Identification of Resources.--The Trade Representative shall, 
as part of the comprehensive strategy, identify and report to Congress 
regarding the resources necessary to implement actions recommended in 
the comprehensive strategy.

SEC. 102. APPOINTMENT OF COORDINATOR AND ESTABLISHMENT OF INTERAGENCY 
              WORKING GROUP.

    (a) Appointment of Coordinator.--The Trade Representative shall 
appoint one Deputy Trade Representative to serve as the coordinator of 
the development and implementation of the comprehensive strategy 
required by section 101(c).
    (b) Establishment of Working Group.--Not later than 30 days after 
the date of enactment of this Act, the President shall establish an 
interagency working group composed of representatives from the 
Departments of Commerce, Justice, State, Treasury, and Labor, the 
National Economic Council, the National Security Council, and such 
other departments and agencies as the President deems appropriate, to 
assist the Trade Representative in the development and the 
implementation of the comprehensive strategy required by section 
101(c).

SEC. 103. CONSULTATION AND REPORTING REQUIREMENTS.

    (a) Consultation.--The Trade Representative shall consult with the 
Committee on Finance of the Senate and the Committee on Ways and Means 
of the House of Representatives at least once every 60 days during the 
course of the investigation required under section 101(a), and 
regularly thereafter, regarding the implementation of the comprehensive 
strategy required by section 101(c).
    (b) Report to Congress.--Not later than 6 months after the date of 
enactment of this Act, the Trade Representative shall submit the 
comprehensive strategy report required by section 101(c)(1) to the 
Committee on Finance of the Senate and the Committee on Ways and Means 
of the House of Representatives.

SEC. 104. INVESTIGATIONS BY INTERNATIONAL TRADE COMMISSION.

    (a) Initiation by the Trade Representative.--The Trade 
Representative shall request that the International Trade Commission 
initiate an investigation pursuant to section 332 of the Tariff Act of 
1930 (19 U.S.C. 1332), and subject to such deadlines as the Trade 
Representative may establish, request any economic analyses and reports 
as the Trade Representative deems necessary to carry out the 
investigation required by section 101(a) and to develop the 
comprehensive strategy required by section 101(c).
    (b) Direction to the President Regarding Resources of Other 
Agencies.--The President shall direct the heads of various departments 
and offices of the United States Government to make available to the 
Trade Representative such resources as the President may deem necessary 
to carry out the provisions of this title and assist in the development 
of the strategy required under section 101(c), including the overseas 
reporting capabilities of the Foreign Service, the United States and 
Foreign Commercial Service, and the attaches of the Department of the 
Treasury.

                     TITLE II--SAFEGUARD AMENDMENTS

SEC. 201. AMENDMENTS TO CHAPTER 1 OF TITLE II OF THE TRADE ACT OF 1974.

    (a) Test for Positive Adjustments To Import Competition.--Section 
201(a) of the Trade Act of 1974 (19 U.S.C. 2251(a)) is amended by 
striking ``as to be a substantial cause of serious injury, or the 
threat thereof,'' and inserting ``, absolute or relative to domestic 
production, and under such conditions, as to cause or threaten to cause 
serious injury''.
    (b) Investigations and Determinations.--Section 202 of such Act (19 
U.S.C. 2252) is amended--
            (1) in subsection (b)(1)(A), by striking ``as to be a 
        substantial cause of serious injury, or the threat thereof,'' 
        and inserting ``, absolute or relative to domestic production, 
        and under such conditions, as to cause or threaten to cause 
        serious injury'';
            (2) by amending subsection (b)(1)(B) to read as follows:
            ``(B) In this section, the term `cause' means a cause that 
        is important and contributes significantly to the serious 
        injury to the domestic industry, but is not necessarily the 
        most important cause.'';
            (3) in subsection (c)--
                    (A) by amending paragraph (1)(A) to read as 
                follows:
                    ``(A) with respect to serious injury, change in the 
                level of sales, production, productivity, capacity 
                utilization, profits and losses, and employment, 
                including--
                            ``(i) the significant idling of productive 
                        facilities in the domestic industry,
                            ``(ii) the inability of a significant 
                        number of firms to carry out domestic 
                        production operations at a reasonable level of 
                        profit, and
                            ``(iii) significant unemployment or 
                        underemployment within the domestic 
                        industry;'';
                    (B) in paragraph (1)(B)--
                            (i) in clause (iii), by striking ``; and'' 
                        and inserting ``, and''; and
                            (ii) by inserting after clause (iii) the 
                        following:
                            ``(iv) foreign production capacity, foreign 
                        inventories, the level of demand in third 
                        country markets, and the availability of other 
                        export markets to absorb any additional 
                        exports; and'';
                    (C) by amending paragraph (1)(C) to read as 
                follows:
                    ``(C) with respect to cause--
                            ``(i) the rate, amount, and timing of the 
                        increase in imports of the product concerned in 
                        absolute and relative terms, including whether 
                        there has been a substantial increase in 
                        imports over a short period of time, and
                            ``(ii) the share of the domestic market 
                        taken by increased imports.'';
                    (D) by redesignating paragraphs (3) through (6) as 
                paragraphs (4) through (7), respectively;
                    (E) by striking paragraph (2) and inserting the 
                following:
            ``(2) In making determinations under subsection (b), the 
        Commission shall--
                    ``(A) consider the condition of the domestic 
                industry over the course of the relevant business 
                cycle, but may not aggregate the causes of declining 
                demand associated with a recession or economic downturn 
                in the United States economy into a single cause of 
                serious injury or threat of injury; and
                    ``(B) examine factors other than imports which may 
                cause or threaten to cause serious injury to the 
                domestic industry.
         The Commission shall include the results of its examination 
        under subparagraph (B) in the report submitted by the 
        Commission to the President under subsection (e).
            ``(3) In making determinations under subsection (b), the 
        Commission shall consider whether any change in the volume of 
        imports that has occurred since a petition under subsection (a) 
        was filed or a request under subsection (b) was made is related 
        to the pendency of the investigation and, if so, the Commission 
        may reduce the weight accorded to the data for the period after 
        the petition under subsection (a) was filed or the request 
        under subsection (b) was made in making its determination of 
        serious injury, or the threat thereof.''; and
                    (F) in paragraph (4), as so redesignated--
                            (i) by striking ``and (B)'' and inserting 
                        ``, (B), and (C)''; and
                            (ii) by striking ``be a substantial cause 
                        of serious injury, or the threat thereof,'' and 
                        inserting ``cause or threaten to cause serious 
                        injury'';
            (4) in subsection (d)--
                    (A) in paragraph (1)(A)(ii), by striking ``be, or 
                likely to be a substantial cause of serious injury, or 
                the threat thereof,'' and inserting ``cause, or be 
                likely to cause, or threaten to cause, or be likely to 
                threaten to cause, serious injury'';
                    (B) in paragraph (1)(C), in the matter following 
                clause (ii), by striking ``a substantial cause of 
                serious injury, or the threat thereof,'' and inserting 
                ``causing or threatening to cause serious injury'';
                    (C) by amending paragraph (2)(A) to read as 
                follows:
            ``(2)(A) Whenever a petition filed under subsection (a) or 
        a request filed under subsection (b) alleges that critical 
        circumstances exist and requests that provisional relief be 
        provided under this subsection with respect to imports of the 
        article identified in the petition or request, the Commission 
        shall, not later than 45 days after the petition or request is 
        filed, determine, on the basis of available information, 
        whether--
                    ``(i) there is clear evidence that increased 
                imports (either actual or relative to domestic 
                production) of the article are causing or threatening 
                to cause serious injury to the domestic industry 
                producing an article like or directly competitive with 
                the imported article; and
                    ``(ii) delay in taking action under this chapter 
                would cause damage to that industry that would be 
                difficult to repair.
        In making the evaluation under clause (ii), the Commission 
        should consider, among other factors that it considers 
        relevant, the timing and volume of the imports, including 
        whether there has been a substantial increase in imports over a 
        short period of time, and any other circumstances indicating 
        that delay in taking action under this chapter would cause 
        damage to the industry that would be difficult to repair.''; 
        and
                    (D) in paragraph (2)(D), by striking ``30'' and 
                inserting ``20''.
    (c) Presidential Determinations.--
            (1) Action by president.--Section 203(a) of the Trade Act 
        of 1974 (19 U.S.C. 2253(a)) is amended--
                    (A) in paragraph (1)(A), by striking ``and provide 
                greater economic and social benefits than costs'' and 
                inserting ``and will not have an adverse impact on the 
                United States substantially out of proportion to the 
                benefits of such action'';
                    (B) in paragraph (2)(F), by striking the semicolon 
                at the end of clause (iii) and inserting a comma; and
                    (C) by adding at the end of paragraph (2)(F) the 
                following flush material:
                ``except that the President shall give substantially 
                greater weight to the factors set out in clause (i) 
                than to those set out in clauses (ii) and (iii), unless 
                doing so would be inconsistent with the overall 
                economic interest of the United States;''.
            (2) Implementation of action recommended by commission.--
        Section 203(c) of the Trade Act of 1974 (19 U.S.C. 2253(c)) is 
        amended by striking ``90'' and inserting ``60''.
    (d) Conforming Amendments.--
            (1) Section 203(e)(6)(B) of the Trade Act of 1974 (19 
        U.S.C. 2253(e)(6)(B)) is amended by striking ``substantially''.
            (2) Section 264(c) of the Trade Act of 1974 (19 U.S.C. 
        2354(c)) is amended by striking ``a substantial cause of 
        serious injury or threat thereof'' and inserting ``causing or 
        threatening to cause serious injury''.

                TITLE III--TIMELY RELEASE OF IMPORT DATA

SEC. 301. AMENDMENTS TO SECTION 332 OF THE TARIFF ACT OF 1930.

    Section 332 of the Tariff Act of 1930 (19 U.S.C. 1332) is amended 
by adding at the end the following:
    ``(h)(1) Any entity, including any trade association, firm, 
certified or recognized union, or group of workers, which is 
representative of a domestic industry that produces an article that is 
like or directly competitive with an imported article, may file a 
request with the President pursuant to paragraph (2) for the monitoring 
of imports of such article under subsection (g).
    ``(2) If the request filed under paragraph (1) alleges that an 
article is being imported into the United States in such increased 
quantities as to cause serious injury, or threat thereof, to a domestic 
industry, the President, within 45 days after receiving the request, 
shall determine if monitoring is appropriate.
    ``(3) If the determination under paragraph (2) is affirmative, the 
President shall request, under subsection (g), the Commission to 
monitor and investigate the imports concerned for a period not to 
exceed 2 years.''.

SEC. 302. EARLY RELEASE OF IMPORT DATA.

    In order to facilitate the early identification of potentially 
disruptive import surges, the Director of the Office of Management and 
Budget may grant an exception to the publication dates established for 
the release of data on United States international trade in goods and 
services in order to permit public access to preliminary international 
trade import data, if the Director notifies Congress of the early 
release of the data.

SEC. 303. AMENDMENT TO TARIFF ACT OF 1930.

    Section 484(f) of the Tariff Act of 1930 (19 U.S.C. 1484(f)) is 
amended--
            (1) by striking ``The Secretary'' and inserting ``(1) The 
        Secretary''; and
            (2) by adding at the end the following:
    ``(2) The Secretary of the Treasury, the Secretary of Commerce, and 
the International Trade Commission shall establish a suffix or other 
indicator to the Harmonized Tariff Schedule of the United States for 
merchandise that is subject to countervailing duty orders or 
antidumping duty orders under title VII of this Act, or subject to 
actions by the President under chapter 1 of title II, or section 406, 
of the Trade Act of 1974.''.

SEC. 304. PRODUCT MONITORING.

    (a) In General.--The Secretary of Commerce shall monitor imports on 
a monthly basis for import surges and potential unfair trade through 
the year 2000. Products to be monitored shall be determined by the 
Secretary of Commerce based on the import surge data compiled by the 
Secretary, but shall include, at a minimum, steel mill products and 
other import-sensitive products identified by United States industries 
or entities representative of a United States industry that meet the 
necessary criteria established by the Secretary. In determining whether 
to monitor imports of a specific product, the Secretary shall consider 
the percentage increase in imports, the volume or value of imports, as 
appropriate, the level of import penetration, and any other factors the 
Secretary considers necessary.
    (b) Reporting Requirements.--Not later than 30 days after the 
release of the official December import statistics for calendar year 
1999 and for calendar year 2000, the Secretary of Commerce shall submit 
a report to Congress summarizing the monitoring activities under this 
section for that calendar year and identifying products to be monitored 
in the next calendar year. In addition, in the report to Congress 
covering calendar year 1999, the Secretary of Commerce shall determine 
whether trade conditions during the calendar year 1999 merit extending 
the import monitoring program beyond the program's scheduled expiration 
at the end of calendar year 2000.
    (c) Steel Import Monitoring and Enforcement Center.--The Secretary 
of Commerce shall establish a Steel Import Monitoring and Enforcement 
Center for the purpose of monitoring imports of steel mill products 
under this section and for monitoring and investigating imports of 
steel mill products as may be required pursuant to section 301 of this 
Act.

             TITLE IV--INTERNATIONAL FINANCIAL INSTITUTIONS

SEC. 401. INTERNATIONAL FINANCIAL INSTITUTION LENDING.

    (a) In General.--The Secretary of the Treasury shall instruct the 
United States Executive Director of each international financial 
institution to use aggressively the voice and vote of the United States 
to--
            (1) vigorously oppose any disbursements of funds of the 
        institution to any recipient that would be used to provide 
        financial assistance to the steel industry in any manner that 
        would encourage the expansion of existing steelmaking capacity;
            (2) vigorously promote policies to encourage the 
        privatization of steel mills that remain in state ownership; 
        and
            (3) vigorously promote policies that encourage immediate 
        economic growth and the resumption and increase in the domestic 
        demand for steel, including--
                    (A) currency and exchange rate stability;
                    (B) encouraging capital inflows;
                    (C) productive cuts in marginal tax rates on wages, 
                income, and capital; and
                    (D) the liberalization of trade in goods, services, 
                and investment.
    (b) International Financial Institution Defined.--In this section, 
the term ``international financial institution'' includes 
``international financial institutions'', ``multilateral development 
institutions'', and ``multilateral development banks'' as those terms 
are defined in section 1701(c) of the International Financial 
Institutions Act (22 U.S.C. 262r(c)).

                     TITLE V--SUSPENSION AGREEMENTS

SEC. 501. DOMESTIC INDUSTRY SUPPORT FOR SUSPENSION AGREEMENTS.

    (a) Countervailing Duty Cases.--Section 704(d) of the Tariff Act of 
1930 (19 U.S.C. 1671c(d)(1)) is amended--
            (1) in paragraph 1--
                    (A) by striking ``and'' at the end of subparagraph 
                (A);
                    (B) by striking the period at the end of 
                subparagraph (B), and inserting ``, and''; and
                    (C) by inserting after subparagraph (B) the 
                following new subparagraph:
                    ``(C) the domestic producers or workers who support 
                the agreement account for more than 50 percent of the 
                production of the domestic like product produced by 
                those expressing an opinion on the agreement.''; and
            (2) by adding at the end the following new paragraph:
            ``(4) Special rules relating to domestic producer and 
        worker support.--
                    ``(A) Determination of industry support.--
                            ``(i) Certain positions disregarded.--
                                    ``(I) Producers related to foreign 
                                producers.--In determining industry 
                                support under paragraph(1)(C), the 
                                administering authority shall disregard 
                                the position of domestic producers who 
                                support the agreement, if such 
                                producers are related to foreign 
                                producers, as defined in section 
                                771(4)(B)(ii), unless such domestic 
                                producers demonstrate that their 
                                interests as domestic producers would 
                                be adversely affected if the agreement 
                                is not accepted.
                                    ``(II) Producers who are 
                                importers.--The administering authority 
                                may disregard the position of domestic 
                                producers of a domestic like product 
                                who are importers of the subject 
                                merchandise.
                            ``(ii) Special rule for regional 
                        industries.--If the petition which led to the 
                        proposed suspension agreement alleges that the 
                        industry is a regional industry, the 
                        administering authority shall determine whether 
                        the agreement is supported by or on behalf of 
                        the industry by applying paragraph (1)(C) on 
                        the basis of production in the region.
                    ``(B) National security exception.--In any case in 
                which the administering authority determines that the 
                domestic producers or workers who support the agreement 
                do not account for more than 50 percent of the 
                production of the domestic like product produced by 
                those expressing an opinion on the agreement, the 
                administering authority may accept the agreement, 
                notwithstanding the provisions of paragraph (1)(C), if 
                the President determines and certifies to the 
                administering authority that failure to accept the 
                agreement would undermine the national security 
                interests of the United States or pose an extraordinary 
                threat to the economy of the United States.''.
    (b) Antidumping Duty Cases.--Section 734(d) of the Tariff Act of 
1930 (19 U.S.C. 1673c(d)) is amended--
            (1) by redesignating paragraphs (1) and (2) as 
        subparagraphs (A) and (B), respectively;
            (2) by striking ``The administering authority'' and 
        inserting:
            ``(1) In general.--The administering authority'';
            (3) by striking ``and'' at the end of subparagraph (A), as 
        redesignated;
            (4) by striking the period at the end of subparagraph (B), 
        as redesignated, and inserting ``, and'';
            (5) by inserting after subparagraph (B), as redesignated, 
        the following new subparagraph:
                    ``(C) the domestic producers or workers who support 
                the agreement account for more than 50 percent of the 
                production of the domestic like product produced by 
                those expressing an opinion on the agreement.''; and
            (6) by adding at the end the following new paragraph:
            ``(2) Special rules relating to domestic producer and 
        worker support.--
                    ``(A) Determination of industry support.--
                            ``(i) Certain positions disregarded.--
                                    ``(I) Producers related to foreign 
                                producers.--In determining domestic 
                                producer or worker support for purposes 
                                of paragraph (1)(C), the administering 
                                authority shall disregard the position 
                                of domestic producers who support the 
                                agreement, if such producers are 
                                related to foreign producers, as 
                                defined in section 771(4)(B)(ii), 
                                unless such domestic producers 
                                demonstrate that their interests as 
                                domestic producers would be adversely 
                                affected if the agreement is not 
                                accepted.
                                    ``(II) Producers who are 
                                importers.--The administering authority 
                                may disregard the position of domestic 
                                producers of a domestic like product 
                                who are importers of the subject 
                                merchandise.
                            ``(ii) Special rule for regional 
                        industries.--If the petition which led to the 
                        proposed suspension agreement alleges the 
                        industry is a regional industry, the 
                        administering authority shall determine whether 
                        the agreement is supported by or on behalf of 
                        the industry by applying paragraph (1)(C) on 
                        the basis of production in the region.
                    ``(B) National security exception.--In any case in 
                which the administering authority determines that the 
                domestic producers or workers who support the agreement 
                do not account for more than 50 percent of the 
                production of the domestic like product produced by 
                those expressing an opinion on the agreement, the 
                administering authority may accept the agreement, 
                notwithstanding the provisions of paragraph (1)(C), if 
                the President determines and certifies to the 
                administering authority that failure to accept the 
                agreement would undermine the national security 
                interests of the United States or pose an extraordinary 
                threat to the economy of the United States.''.