To require a report on the consequences of failing to act on trade agreements.

SA 650. Mr. THUNE submitted an amendment intended to be proposed by
him to the bill H.R. 2832, to extend the Generalized System of
Preferences, and for other purposes; which was ordered to lie on the
table; as follows:

At the end, add the following:

TITLE ___--ITC REPORT

SEC. __01. SHORT TITLE.

This title may be cited as the ``Quantifying the Effects of
Failure to Act on Trade Act''.

SEC. __02. ITC REPORT.

(a) In General.--
(1) Failure to act on agreement.--Not later than 2 years
after the date that the President enters into a trade
agreement, the International Trade Commission shall submit a
report described in subsection (b) to Congress, if --
(A) legislation to implement the agreement has not been
submitted to Congress;
(B) a bill to implement the agreement has not been
considered by either House of Congress; or
(C) the agreement has not entered into force with respect
to the United States.
(2) Follow up report.--The International Trade Commission
shall update the report required by paragraph (1) each year
thereafter, if legislation to implement the agreement has not
been submitted to Congress, a bill to implement the agreement
has not been considered by either House of Congress, or the
agreement has not entered into force.
(b) Contents of Report.--The report required by subsection
(a) shall contain the following:
(1) A quantitative analysis of the impact on United States
businesses and individuals caused by the delay in the
implementation of the agreement. The analysis shall examine
all relevant factors impacting United States businesses and
individuals, including--
(A) lost market shares for United States exports in foreign
markets resulting from new trade agreements implemented
between the country with respect to which the trade agreement
was entered into and any other country, and market shares
lost for United States exports resulting from any other
factor;
(B) how the delay in implementing the agreement is
affecting the advancement of United States trade objectives,
described in the Bipartisan Trade Promotion Authority Act of
2002 (or any subsequent trade promotion authority); and
(C) how the delay in implementing the agreement is
affecting the protection of intellectual property rights of
United States businesses operating in foreign markets.
(2) The impact on employment in the United States resulting
from the delay in implementing the agreement.
(3) An estimate of the probable impact on United States
businesses, in terms of exports, profitability, and
employment, if the trade agreement does not enter into force
by the end of the calendar year following the date of the
Commission report
(c) Applicability.--The International Trade Commission
shall submit the report required by this section with respect
to--
(1) any trade agreement entered into on or after the date
of the enactment of this Act; and
(2) any trade agreement entered into before the date of the
enactment of this Act if such agreement has not entered into
force with respect to the United States by June 30, 2012.
______