Summary: H.R.5578 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.5578. Bill summaries are authored by CRS.

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Introduced in House (07/08/1992)

Automotive Trade Equity Act of 1992 - Requires the Secretary of the Treasury, on the basis of relevant available information, to: (1) estimate the domestic consumption of motor vehicles for each year; (2) compute the allowable market penetration amount for foreign motor vehicles (motor vehicles produced by Japan or by a transplanted vehicle manufacturer); and (3) calculate the actual domestic consumption of motor vehicles during the year; and (4) calculate the actual market penetration during the year for foreign motor vehicles.

Limits the aggregate number of Japanese motor vehicles imported into the United States in each year from January 1, 1993, through December 31, 1999, to no more than 1,900,000, adjustable downwards according to a specified formula. Requires the Secretary to publish such estimates, computations, and calculations in the Federal Register.