[Congressional Record Volume 161, Number 76 (Monday, May 18, 2015)]
[Senate]
[Pages S3000-S3001]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1353. Mr. PETERS submitted an amendment intended to be proposed to 
amendment SA 1221 proposed by Mr. Hatch to the bill H.R. 1314, to amend 
the Internal Revenue Code of 1986 to provide for a right to an 
administrative appeal relating to adverse determinations of tax-exempt 
status of certain organizations; which was ordered to lie on the table; 
as follows:

       At the end of section 105(f), add the following:
       (4) Report on fair trade index.--
       (A) In general.--Not later than one year after the date of 
     the enactment of this Act, the United States Trade 
     Representative shall submit to Congress a report on each 
     foreign country with which the United States has conducted 
     negotiations under this title that--
       (i) analyzes the acts, policies, and practices of such 
     foreign country that negatively impact the trade relationship 
     of the United States with such foreign country;
       (ii) analyzes the adherence of such foreign country to 
     international trade norms;
       (iii) assesses the compliance of such foreign country with 
     fair trade factors (including the factors specified in 
     subparagraph (B)); and
       (iv) ranks each such foreign country in order from most to 
     least egregious violator of those fair trade factors.
       (B) Fair trade factors.--The fair trade factors for each 
     foreign country included in the report under subparagraph (A) 
     shall include the following:
       (i) An assessment of the extent to which that country 
     manipulates the exchange rate for its currency, including an 
     assessment of the following:

       (I) Whether that country had a current account surplus 
     during the 180-day period preceding the submission of the 
     report.
       (II) Whether that country increased its foreign exchange 
     reserves during that period.
       (III) Whether the amount of foreign exchange reserves of 
     that country is more than the total value of exports from 
     that country during a 3-month period.

[[Page S3001]]

       (IV) Such other factors as the United States Trade 
     Representative considers appropriate.

       (ii) An assessment of the localization barriers to trade 
     with that country, including an assessment of the following:

       (I) Whether that country has formal legal and regulatory 
     measures designed to protect, favor, or stimulate industries, 
     service providers, or intellectual property from that country 
     at the expense of goods, services, or intellectual property 
     from other countries, including local content requirements, 
     subsidies, or other preferences available only if producers 
     use local goods, locally-owned service providers, or locally-
     owned or developed intellectual property.
       (II) Any requirements in that country to provide services 
     using local facilities or infrastructure.
       (III) Any measures taken by that country to promote the 
     transfer of technology or intellectual property from foreign 
     entities to domestic entities.
       (IV) Any requirements in that country to comply with 
     standards specific to that country or region that create 
     unnecessary obstacles to trade.
       (V) Any requirements in that country to conduct duplicative 
     conformity assessment procedures that the United States Trade 
     Representative considers unjustified.
       (VI) Such other factors as the United States Trade 
     Representative considers appropriate.

       (iii) An assessment of any other barriers to trade with 
     that country, including considering the ranking of that 
     country in the National Trade Estimate submitted to Congress 
     under section 181(b) of the Trade Act of 1974 (19 U.S.C. 
     2241(b)).
       (iv) An assessment of the extent to which that country 
     protects intellectual property rights, including considering 
     whether that country is identified by the United States Trade 
     Representative under section 182 of the Trade Act of 1974 (19 
     U.S.C. 2242) as a country that denies adequate and effective 
     protection of intellectual property rights or denies fair and 
     equitable market access to United States persons that rely 
     upon intellectual property rights protection.
       (v) An assessment of the extent to which that country 
     exhibits discriminatory preferences for domestic production, 
     including considering any findings of the Trade Policy Review 
     Body of the World Trade Organization with respect to that 
     country.
       (vi) An assessment of the labor rights and labor practices 
     in that country, including the findings with respect to that 
     country included in the report on labor rights required by 
     subsection (d)(3).
                                 ______