S.1406 - United States Trade Facilitation Act of 1987100th Congress (1987-1988)
|Sponsor:||Sen. Pell, Claiborne [D-RI] (Introduced 06/23/1987)|
|Committees:||Senate - Foreign Relations|
|Committee Reports:||S.Rept 100-81 Part 1; S.Rept 100-81 Part 1|
|Latest Action:||07/22/1987 Senate incorporated this measure into S. 1420.|
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Summary: S.1406 — 100th Congress (1987-1988)All Bill Information (Except Text)
Introduced in Senate (06/23/1987)
United States Trade Facilitation Act of 1987 - Title I: Trade Enhancement - Directs the Secretary of the Treasury to instruct the U.S. executive directors of the multilateral development banks to: (1) assure that U.S. firms are fully informed of bidding opportunities in countries receiving loans from the respective banks; (2) assure that U.S. firms can focus on projects in which they have a particular interest or competitive advantage; (3) investigate complaints from U.S. bidders about the awarding of multilateral development bank procurement contracts; and (4) promote opportunities for exports of U.S. goods and services.
Directs the Secretary of Commerce to appoint an officer of the U.S. Foreign Commercial Service to serve with each of the U.S. executive directors of the multilateral development banks in which the United States participates.
Establishes an Office of Multilateral Development Bank Procurement (Office) within the Bureau of International Affairs in the Department of the Treasury to disseminate public information on procurement opportunities.
Directs the American Institute of Taiwan to employ personnel to perform duties similar to those performed by the U.S. and Foreign Commercial Service. Specifies that the number of such personnel shall be commensurate with the number of U.S. personnel of the Commercial Service who are permanently assigned to the U.S. diplomatic mission to South Korea.
Express the sense of the Congress that sustained economic growth in the United States, other industrialized countries, and developing countries can only be assured if world trade is expanding and market access for all countries is improved. Declares that it is U.S. policy that any U.S. foreign assistance to developing countries should be consistent with and supportive of long-term trade liberalization in those countries.
Declares that the Congress reaffirms its support for the Trade and Development Program.
Authorizes use of program funds to provide support for project planning, development, management, and procurement for both bilateral and multilateral projects, including training activities undertaken in connection with a project, for the purpose of promoting the use of U.S. exports in such projects.
Provides that the Trade and Development Program shall be a separate component agency of the International Development Cooperation Agency (IDCA) and shall not be an agency within the Agency for International Development (AID) or any other component agency of the IDCA.
States that the Trade and Development Program should cooperate with other Federal agencies to provide information to the private sector concerning trade development and export promotion related to bilateral development projects. Authorizes the Director of the program to establish an advisory board.
Authorizes appropriations for the Trade and Development Program for FY 1988. Specifies that a certain amount of such funds shall be available only for education and training programs.
Amends the Trade and Development Enhancement Act of 1983 to transfer authority for the tied aid credit program from AID to the Trade and Development Program. Includes a representative of the Trade and Development Program on the National Advisory Council (NAC) on International Monetary and Financial Policies for any NAC discussion and decisions on matters involving tied aid credits. Changes the requirement for unanimous consent of the NAC on decisions involving tied aid credits to a requirement of a majority vote only. Sets forth transition procedures for the transfer of authorities from AID to the Trade Development Program.
Expresses the sense of the Congress concerning the need to protect U.S. intellectual property rights and to negotiate multilateral agreements concerning such rights without creating barriers to legitimate trade.
Amends the Arms Export Control Act to require that for each fiscal year, $100,000 of registration fees charged to applicants for munitions control licenses shall be credited to a Department of State account to be made available for the payment of expenses incurred in automating munitions control functions and processing munitions control license applications.
Title II: Management of International Debt Crisis - Directs the Secretary, in consultation with the International Monetary Fund (IMF), to study the feasibility and efficiency of reducing the international debt of the poorest of the heavily indebted countries through a one-time allocation by the IMF of limited purposes special drawing rights in accordance with a specified plan.
Expresses the sense of the Congress that the Secretary should: (1) assess whether current reporting requirements of U.S. financial institutions concerning the movement of capital between countries are adequate to measure capital flight; (2) ensure that such additional requirements as may be necessary are instituted in a timely fashion; and (3) provide such information to countries which are experiencing serious capital flight.
Directs the Secretary to initiate negotiations to propose the establishment of a multilateral debt management facility empowered to take specific steps regarding the international debt crisis.
Directs the Secretary to instruct the U.S. Director of the International Bank for Reconstruction and Development to determine the amount of liquid assets controlled by the Bank which could be pledged as collateral to obtain financing for a multilateral debt management facility and to consider the possibility of transferring funds previously authorized as U.S. contributions to the Bank to fund U.S. contributions to such debt management facility.
Title III: Multilateral Investment Guarantee Agency - Multilateral Investment Guarantee Agency Act - Authorizes the President to accept membership for the United States in the Multilateral Investment Guarantee Agency provided for by the Convention Establishing the Multilateral Investment Guarantee Agency deposited in the archives of the International Bank for Reconstruction and Development.
Provides that the Governor and Alternate Governor of the Bank shall serve as Governor and Alternate Governor, respectively, of the Agency. Provides that certain provisions of the Bretton Woods Agreements Act shall apply with respect to the Agency to the same extent as with respect to the Bank and the International Monetary Fund.
Prohibits the President or any person or agency, unless authorized by law, from: (1) subscribing to additional shares of stock in the Agency; (2) voting for or agreeing to any amendment of the Convention which increases the obligations of the United States or which changes the purpose or functions of the Agency; or (3) making a loan or providing other financing to the Agency.
Requires any Federal Reserve Bank that is requested to do so by the Agency to act as its depository or as its fiscal agent. Requires the Board of Governors of the Federal Reserve System to supervise and direct the carrying out of these functions by the Federal Reserve banks.
Authorizes the Secretary of the Treasury to subscribe on behalf of the United States to a specified number of shares of the capital stock of the Agency. Authorizes appropriations for such subscription. Provides that any payment of dividends of such stock shall be deposited into the Treasury as a miscellaneous receipt.
Places specific conditions on United States membership in the Agency.
Sets forth the jurisdiction of United States courts regarding civil actions to which the Agency may be a party. Sets forth procedures regarding arbitral awards rendered to resolve disputes arising under the Convention. Gives full force and effect within the United States, its territories, and possessions to defined privileges and immunities accorded under the Convention to the Agency.
Title IV: Miscellaneous Provisions - Reduces the amount of funding which may be made available in FY 1988 to the International Bank for Reconstruction and Development.
Requires the Secretary of State to conduct an in-depth study of the annual reports required by the Trade Act of 1974, pertaining to the status of internationally recognized worker rights in foreign countries, with a view toward the breadth and content of such reports.
Amends the Foreign Assistance Act of 1961 to require the Overseas Private Investment Corporation (OPIC) to justify its determinations with regard to the People's Republic of China concerning internationally recognized worker rights.
Expresses the sense of the Congress that special efforts should be undertaken to reduce trade barriers and promote economic interchange between the United States and developing countries in sub-Saharan Africa. Requires the Comptroller General to study, and to report to the Congress on, the restrictions which affect the importation of products of developing countries in sub-Saharan Africa.
Expresses the sense of the Congress that the Secretary of State, in cooperation with the Secretary of Commerce, the Secretary of Defense and other relevant agencies of the Government, should assess whether current practices and procedures for monitoring compliance by recipient countries in the use and reexport of U.S.-origin military technology is adequate and effective.
Expresses the sense of the Congress that Japan should make an effort to increase its importation of manufactured goods from less developed countries.
Expresses the sense of the Congress that the Government of Japan should expand trade with Israel and end the compliance by Japanese commercial enterprises with the Arab economic boycott of Israel.
Expresses the sense of the Congress concerning the trade elements of the Caribbean Basin Initiative.
Expresses the sense of the Congress concerning the policy of the United States on the negotiation of an international agricultural conservation reserve agreement.