S.Amdt. 733

SA 733. Mr. MERKLEY submitted an amendment intended to be proposed by him to the bill S. 1619, to provide for identification of misaligned currency, require action to correct the misalignment, and for other purposes; which was ordered to lie on the table; as follows:

On page 12, between lines 24 and 25, insert the following:

(6) Subsidies counternotification.--The United States Trade Representative shall--

(A) not later than 90 days after the Secretary determines that the country has failed to adopt appropriate policies, or take identifiable action, to eliminate the fundamental misalignment of its currency, and annually thereafter, review the notification of subsidies, if any, submitted by the country under Article 25 of the Agreement on Subsidies and Countervailing Measures (referred to in section 101(d)(12) of the Uruguay Round Agreements Act (19 U.S.C. 3511(d)(12))); and

(B) notify the Committee on Subsidies and Countervailing Measures under Article 25 of that Agreement of all subsidies of the country identified by the United States not later than 180 days after conducting the review required by subparagraph (A) if the Trade Representative determines that the country has, for 2 consecutive years--

(i) failed to submit such a notification; or

(ii) omitted information or included inaccurate information in such a notification that is material with respect to the totality of the subsidies of the country.